In the seven days through Aug. 6, Circle issued about 6.3 billion USDC and redeemed roughly 6.4 billion, leaving circulating supply down about 100 million tokens. Total USDC circulation sits at 71.8 billion. Reserves are around $72 billion, composed of about $51.8 billion in overnight reverse repos, $9 billion in Treasury securities with maturities under three months, $10 billion in deposits at systemically important institutions and $1.2 billion in other bank deposits.
Circle issued about 6.3 billion USDC and redeemed approximately 6.4 billion USDC during the seven days ending Aug. 6. The net result: roughly 100 million tokens left circulation. Total USDC supply now stands at 71.8 billion.
Reserves backing the stablecoin total approximately $72 billion. That includes about $51.8 billion in overnight reverse repos, $9 billion in Treasury securities with maturities under three months, $10 billion in deposits placed at systemically important institutions, and $1.2 billion held at other banks.
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