Circle and Tether collectively minted $3 billion worth of stablecoins over a 48-hour period, adding to more than $250 billion in combined USDT and USDC circulation. Tether minted $1 billion in USDT on Aug. 10, taking its circulating supply to approximately $183 billion. Circle created about $5.4 billion in USDC during the week ending Aug. 13 while redeeming roughly $5.3 billion, for a net increase of about $100 million to approximately $71.9 billion. Circle reported average daily minting and redemption activity of $1.9 billion in the second quarter of 2026, up 105% from a year earlier, alongside $14.8 trillion in quarterly transaction volume. The figures show that gross issuance can be substantially larger than net supply growth as stablecoins circulate through institutional settlement, trading and treasury operations.