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Circle Cuts USDC Circulation by $1.1 Billion; Total Supply at 75.9 Billion

Circle Cuts USDC Circulation by $1.1 Billion; Total Supply at 75.9 Billion

In the week ending December 29, Circle saw $5.7B in USDC redemptions against $4.6B issuance, lowering circulation to 75.9B, backed by $76.3B in diversified reserves.

USDC

Summary

Circle issued $4.6 billion USDC and redeemed $5.7 billion in the seven days ending December 29, resulting in a $1.1 billion net decrease in circulation. Total USDC supply now stands at 75.9 billion, supported by $76.3 billion in reserves comprising $51 billion in overnight reverse repos, $14.6 billion in Treasuries under three months, $10 billion in deposits at systemically important institutions, and $0.8 billion in other bank deposits.

Terms & Concepts
  • USDC (USD Coin): A U.S. dollar–pegged cryptocurrency issued by Circle; supply expands with issuance and contracts via redemptions.
  • Overnight reverse repos: Short-term, overnight lending transactions secured by securities, used to park cash and manage liquidity.
  • Short-term Treasuries: U.S. government debt instruments with near-term maturities, commonly held as liquid, low-risk reserves.