The fund that is controlled by Trump?....or am I lost on that. The USDC isn't the federal reserve buying coins, it's the federal reserve pegging coins to the US dollar. The coins are held by banks, either, I assume, by the bank themselves or banks that accept depositors coins.
I know nothing about this, maybe I am reading it wrong, but here's the link
https://www.investopedia.com/usd-coin-5210435
I am about the dullish bulb in the box when it comes to this stuff.