NYDIG Flags USD1 Reserves, Warns of Binance Ties and Legal Risks

TLDR NYDIG has raised concerns about the lack of proper reserve reporting for the USD1 stablecoin. The last reserve update for USD1 was in July while competitors like Circle report monthly. BitGo Technologies manages USD1 issuance and reserves but does not meet future regulatory standards. The GENIUS Act will bar BitGo from issuing stablecoins when [...]

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