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Circle Expands USDC Circulation by $2 Billion, Total Supply Reaches $72.5 Billion

Circle Expands USDC Circulation by $2 Billion, Total Supply Reaches $72.5 Billion

Circle issued $5.9 billion in USDC and redeemed $3.8 billion as of September 4, bringing the total supply to $72.5 billion, backed by $72.6 billion in reserves.

USDC

Fact Check
The statement is strongly supported by the evidence. Circle's official website (Source 7) reports a USDC circulation of $72.45 billion, corroborating the '$72.5 Billion' figure. Other highly credible sources like The Block (Source 3) and CoinMarketCap (Source 5) report similar or slightly higher figures ($73B and $73.6B respectively). The expansion is confirmed by comparing current figures to older data, such as the $65 billion reported in August (Source 9), which shows growth far exceeding the stated $2 billion.
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Summary

Circle reported that as of September 4, it issued approximately $5.9 billion in USDC and redeemed $3.8 billion, resulting in a net increase of $2 billion in circulation. This brings the total USDC supply to $72.5 billion. The reserves supporting USDC stand at around $72.6 billion, consisting of $9.4 billion in cash and $63.2 billion in the Circle Reserve Fund.

Terms & Concepts
  • USDC (USD Coin): A U.S. dollar-pegged stablecoin issued by Circle, designed to maintain a 1:1 value with the U.S. dollar.
  • Stablecoin Reserves: The backing assets, such as cash and short-term securities, held to ensure that each stablecoin token is redeemable at its pegged value.
  • Circle Reserve Fund: An investment structure holding assets like U.S. Treasuries and cash to fully back USDC’s circulation.