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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.
...read full article on Benzinga
