USDC, the second most popular stablecoin in the cryptocurrency market, is late in releasing its attestations, which are documents that certify the number of dollars the custodian Centre holds in banks. The last attestation available for the currency dates back to February when the currency had a market cap of nine billion dollars. This fact and the sudden growth the cryptocurrency experienced in the last few months is raising alarms about the delay of these documents.
USDC, one of the biggest stablecoins in the crypto market today, is late producing its attestation documents, according to data taken from its own transparency website. The attestations, that are scheduled to be produced monthly have stopped, with the last one dealing with February’s funds released last April 27, a considerable delay from its normal issuance date.
There has not been a public disclosure of why the tardiness is happening from any of the people who have knowledge of how USDC operates internally. USDC’s attestations are produced by Grant Thornton LLP, one of the leading independent audit, tax, and advisory firms, that has the manpower to manage USDC’s complexity as a business.
