Circle issued about 5.4 billion USDC and redeemed about 5.3 billion USDC in the seven days through Aug. 13, lifting circulating supply by roughly 100 million tokens. Total USDC circulation stood at 71.9 billion, backed by about $72.6 billion in reserves. Those reserves included roughly $47.7 billion in overnight reverse repurchase agreements, about $13.5 billion in U.S. Treasury bills with less than three months to maturity, about $10.2 billion in deposits at systemically important institutions, and about $1.2 billion in other bank deposits. The figures indicate broadly stable weekly net issuance, with Circle maintaining reserve assets in highly liquid instruments typically used to support redemptions and preserve the dollar peg of a stablecoin.