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Circle's CEO, Jeremy Allaire on USDC, SVB's Collapse, & the U.S. Banking System
Bankless
The Race to the Top
We believe the base layer of kind of dollars on the internet needs to be essentially straight through government obligation money, meaning it should be cash at the Federal Reserve. We created something called the Circle Reserve Fund, which basically is an SEC registered and supervised reserve fund. It exists exclusively for USDC reserves, and it's held entirely for the benefit of USDC holders. And so we want to be the most solid, you know, kind of dollar cash infrastructure in the world.
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