Agora CEO Disputes Anchorage’s “Stablecoin Safety Matrix” Report, Which Ranks AUSD as a Significantly Higher-Risk Stablecoin

According to a report by Jinse Finance, crypto financial services firm Anchorage released a “Stablecoin Security Matrix” report on Thursday, which has faced strong opposition from some stablecoin issuers. Among them, Agora founder and CEO Nick van Eck specifically questioned Anchorage’s ratings. Agora, the issuer of the AUSD stablecoin, received a very low rating in the report. Van Eck claimed that Anchorage’s ratings were biased due to “pay-to-play” arrangements with certain stablecoin companies, including Paxos. According to van Eck, Anchorage delisted Agora’s AUSD and Circle’s USDC tokens citing “structural risks,” including lack of regulatory oversight and poor liability management of the assets backing the stablecoins.