Circle Reports $73.7 Billion USDC Circulation with 202% Profit Surge

Circle Reports $73.7 Billion USDC Circulation with 202% Profit Surge

Circle’s latest statement shows a weekly net increase of 100 million USDC, with reserves surpassing circulation and composed of cash and the Circle Reserve Fund.

USDC

Fact Check
The statement makes two specific claims: 1) USDC circulation is $73.7 billion, and 2) Circle's profits surged by 202%. Both claims are strongly and consistently supported by multiple high-authority sources.The first claim regarding the $73.7 billion USDC circulation is explicitly confirmed by a primary source, The Globe and Mail, which published Circle's official corporate press release.The second claim about the 202% profit surge is independently corroborated by several highly credible sources. Stocktitan.net, which provides a direct reprint of the press release, confirms a "202% net income increase." This is echoed by financial news reports from both the Australian and Canadian portals of Yahoo Finance, as well as the crypto-focused outlet Odaily.news. The use of "net income" in some reports is synonymous with "profit" in this financial context.The evidence is compelling due to the high authority of the sources (official press releases distributed via reputable channels) and the perfect consistency across all relevant reports. There are no contradictions in the provided information. Sources with low relevance or authority were correctly identified and do not impact the assessment. The convergence of evidence from multiple primary and reputable secondary sources results in a high confidence level that the statement is true.
Summary

According to its latest official disclosure, Circle issued approximately 6.4 billion USDC and redeemed roughly 6.3 billion USDC in the week ending November 13, resulting in a 100 million net increase in circulation. The total USDC supply now stands at 75.4 billion, backed by $75.6 billion in reserves. Reserves include $9.5 billion in cash and $66.2 billion held in the Circle Reserve Fund, ensuring the stablecoin’s peg to the U.S. dollar.

Terms & Concepts
  • USDC: A U.S. dollar-pegged stablecoin issued by Circle, designed for stability in digital transactions.
  • Stablecoin: A cryptocurrency pegged to a reserve asset like the U.S. dollar to minimize price volatility.
  • Circle Reserve Fund: A managed investment portfolio holding high-quality assets to back USDC reserves, ensuring liquidity and stability.