Bits.ca – Bitcoin & Crypto Currency News & Resources

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I got a new phone today and what I feared has come true. I had Google authenticator on my old phone for 2 factor authentication on multiple accounts. I asked the sales people if my authenticator would keep everything in tact if we did the "smart switch" process, where they move everything from the old phone to the new one. Well it didn't. Now I am locked out of all accounts and my authenticator on the new phone is blank. Fortunately I was smart enough to think ahead and move all assets to cold storage before getting the new phone. But now I can't use voyager or Kraken because I have lost access to the authenticator. Even though the app moved to the new phone it wiped all connections. How can I resolve this and get access to my kraken and voyager exchange accounts again? submitted by /u/Acceptable-Risks [link] [comments]

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so it looks like one twitter account is responsible for most of the FUD coming out about USDC in the last couple of days. @CryptoInsider23 has made multiple post about the coming collapse of USDC, the biggest post has the following image attached. ​ https://preview.redd.it/7gqttfkt8z891.jpg?width=2340&format=pjpg&auto=webp&s=767233183255649551addb9bd1c9d9911e6fcad3 these post have been countered by other people calling it out as FUD and accusations of someone possible trying to short USDC, one article about it below. https://news.coincu.com/104263-circle-suffering-fud-is-collapsing/ some reasons why USDC is safe (taken from Forbes article) “Centre works with auditors and government regulation with a transparent and clear description of the reserves available to back the peg to the U.S. dollar,” Bumbera says. You can even view monthly reports of these reserve balances, including how much USDC is in circulation and its equivalent value in U.S. dollars. Auditing firm Grant Thornton releases USDC’s attestations. As of May 2022, Circle announced that the company would provide weekly attestation reports. They help build trust in USDC, as they disclose the precise amount of actual funds backing the stablecoin. When you buy 1 USDC, a new USDC is minted. And when you choose to sell 1 USDC for fiat currency, the coin is “burned” when you make the transaction. Screen shots of reports below incase you don't want to click on the link ​ https://preview.redd.it/qab7sospbz891.png?width=816&format=png&auto=webp&s=11e7bb47580121f71235da7bf88c02b3fd151296 ​ https://preview.redd.it/hdcyainqbz891.png?width=820&format=png&auto=webp&s=19ea31ad261a2f2d09bfd50056710e8e7e4ddbed So it would seem that USDC is not in any danger of collapsing but then again I could be completely wrong so Make your own decision on the matter. One thing is certain, if USDC collapses it's taking the rest of the crypto market down with it. Not Financial Advice! submitted by /u/Odlavso [link] [comments]

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