Coinbase Vowed Token's All-Cash Backing; That's Not True.

Cryptocurrency investors typically use stablecoins as a place to park cash when they want less exposure to more volatile currencies such as Bitcoin or to move money in and out of the crypto market more quickly than they can with banks. Keywords: 13165Z; 3648823Z; COIN; ALLTOP; BON; BUSINESS; COS; DIGITALCUR; GOV; INDUSTRIES; MARKETS; NORTHAM; TEC; TECSVC; US; WORLD; WWTOP EN 13165Z 3648823Z COIN ALLTOP BON BUSINESS COS DIGITALCUR GOV INDUSTRIES MARKETS NORTHAM TEC TECSVC US WORLD WWTOP For months, a visitor to the website of Coinbase Global Inc., the largest U.S. cryptocurrency exchange, would see that the company offered a stablecoin called USD Coin with a simple premise: For every dollar offered to investors, there was $1 "in a bank account" to back it. [Extracted from the article]

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