MarketsCryptocurrenciesCoinbase, Circle Say USDC Reserves to Be In Cash, TreasuriesStablecoin’s reserves had expanded into corporate bonds, paperCoinbase until August had falsely said reserves were in a bankFacebookXLinkedInEmailLinkGiftFacebookXLinkedInEmailLinkGiftGift this articleContact us:Provide news feedback or report an errorConfidential tip?Send a tip to our reportersSite feedback:Take our SurveyNew WindowFacebookXLinkedInEmailLinkGiftBy Joe Light and Vildana HajricAugust 23, 2021 at 2:59 PM UTCUpdated on August 23, 2021 at 8:20 PM UTCBookmarkSaveLock This article is for subscribers only.Follow @crypto Twitter for the latest news.A consortium including Coinbase Global Inc. said all the reserves of the second-largest cryptocurrency stable coin will shift into cash and short-term U.S. Treasuries, forgoing riskier investments.