Circle Cuts USDC Supply by $1.3 Billion in Weekly Adjustment

Circle's weekly adjustment reduced USDC circulation by 1.3 billion tokens, maintaining a reserve-backed supply with assets exceeding total circulation.

USDC

48d ago

Summary

Circle reported issuing approximately $4.8 billion in USD Coin (USDC) and redeeming about $6.2 billion in the week ending January 21, 2025, reducing circulation by 1.3 billion. USDC supply stands at 74.4 billion tokens, with $74.5 billion in reserves backed by Treasuries and institutional deposits.

Terms & Concepts

USDC: USD Coin is a stablecoin pegged to the U.S. dollar, issued by Circle and backed by reserve assets.
Reverse repo Treasuries: U.S. government securities sold under an agreement to repurchase, used for short-term funding and liquidity management.
Stablecoin reserves: Assets held to back the value of a stablecoin, ensuring it can be redeemed for its pegged currency.