Coinbase Inc. (NASDAQ:COIN) apologized for falsely advertising USD Coin (CRYPTO: USDC) once again and promised that it will become fully backed by cash and Treasury bills issued by the U.S. Treasury.
What Happened: According to a Twitter thread written by Coinbase's Chief Operating Officer Emilie Choi, “starting September 2021, USDC reserves will be held in cash and short-duration US government treasuries.”
“This is the approach we want for USDC reserves,” she added.
According to recent reports, Coinbase found....More>>>
