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   374

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.

TenX to Confirm Founder's Relation to Lyoness Pyramid

From 2011 to 2015, Julian Hosp was a “member” of Lyoness
10 December 2018   60

Representatives of the blockchain start-up TenX confirmed that TenX founder Julian Josp was involved in the activities of the Austrian financial pyramid Lyoness.

TenX's Reddit report says that from 2011 to 2015, Julian Hosp was a “member” of Lyoness. In the company he was engaged in marketing, sales, held lectures for other participants of the company. However, at the end of 2015, Hosp broke all ties with Lyoness.

Earlier, The Financial Telegram reported that TenX Hosp tried to remove all public data linking it with Lyoness before the ICO project. However, according to TenX, Julian Hosp never concealed that he was associated with Lyoness and even wrote about it in his book “25 Stories I Would Tell My Younger Self (2015)".

We would also like to clarify that the stories contained in the online articles and Julian’s past affiliations with Lyoness bear no relevance to TenX, and TenX has had no connection, association and/or affiliation with Lyoness at any time.
 

TenX at Reddit

According to Breaker, Lyoness is recognized as an illegal fraudulent scheme by the Supreme Court of Switzerland, the Austrian civil court and the Norwegian Gambling Council. About the connection of Hosp with the project it became known thanks to the “training” video from Lyoness, allegedly voiced by his Julian.