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MarketsCryptoCoinbase, 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 bankByJoe Light and Vildana Hajric+FollowAugust 23, 2021, 2:59 PM UTCUpdated onAugust 23, 2021, 8:20 PM UTCFromFollow @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.
