According to Circle, USDC circulation declined by about $800 million in the week through April 2, with 77.1 billion tokens in circulation backed by roughly $77.2 billion in reserves.
Circle reported that in the seven days through April 2 it redeemed about 6.7 billion USDC and issued about 5.9 billion USDC, resulting in a net circulation decline of about 800 million. Total USDC circulation stood at 77.1 billion, backed by approximately $77.2 billion in reserves. The reserve assets included about $43.9 billion in overnight reverse repurchase agreements and $20.3 billion in U.S. Treasuries with maturities of less than three months. This new issuer data differs from the earlier Artemis-cited report that said USDC supply had fallen by $1.7 billion over seven days.