Odaily Planet Daily report: Over the seven days ending August 27, Circle issued approximately 11.2 billion USDC and redeemed about 10.2 billion, resulting in a net increase of approximately 1 billion in circulating supply. The total circulating supply of USDC stands at 73.7 billion, with reserves totaling approximately $74 billion, including $49.6 billion in overnight reverse repurchase agreements on U.S. Treasuries, $13.2 billion in U.S. Treasuries with maturities under three months, $10.5 billion in deposits at systemically important institutions, and $700 million in other bank deposits.
USDC circulation increases by $1 billion in 7 days as Circle issues $11.2 billion and redeems $10.2 billion
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Summary
Crypto news: USDC circulation increased by $1 billion over seven days as of August 27, with Circle issuing $11.2 billion and redeeming $10.2 billion. Total supply now stands at $7.37 billion, backed by $74 billion in reserves. This includes $49.6 billion in overnight reverse repos, $13.2 billion in short-term U.S. Treasuries, $10.5 billion in deposits at systemically important banks, and $700 million in other deposits. Cryptocurrency news continues to highlight stablecoin movements and reserve transparency.
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