USDC Stablecoin to Pass the Audit

Grant Thornton LLP reports that as of October 31, $ 127,412,240.89 were in the Circle vaults
22 November 2018   928

USD Coin (USDC) from Bitcoin startup Circle is fully provided with a fiat dollar, reports CoinDesk.

The financial review was conducted by Grant Thornton LLP, a US subsidiary of the international organization Grant Thornton International. The latter provides audit, tax and consulting services to private and public companies in 130 countries.

As of October 31, $ 127,412,240.89 were in the Circle vaults. This exceeds the number of tokens in circulation at that time (127,408,827 USDC). Thus, if necessary, the company was able at the end of last month to simultaneously redeem all the tokens released to the market.

According to Grant Thornton, Circle’s financial audit was conducted in accordance with the certification standards set by the American Institute of Certified Public Accountants (AICPA).

Currently, according to CoinMarketCap, there are 162.9 million USDC tokens in circulation.

Earlier, auditors' reports were published by Gemini and Paxos, which are Circle's competitors in this segment of the cryptocurrency market.

In early November, Tether Ltd confirmed its solvency, which still produces the most popular stablecoin USDT. However, two weeks later, information appeared that the US Department of Justice was investigating possible manipulations by Tether and Bitfinex during the 2017 price rally.

Bitmain to Launch Mining Centre in Texas

According to the company's plans, the farms capacity can reach 300 MW, which will make it the largest in the world
21 October 2019   30

Bitmain has completed the construction of a 50 MW mining center in Rockdale, Texas.

In the future, the farm's capacity can reach 300 MW, which will make it the largest in the world, according to Bitmain.

The company will create new jobs in the region. Together with local authorities, the company also organizes training for specialists in the field of blockchain technology and the maintenance of data centers.