USDC Circulation Increases by Approximately 300 Million Over Past Week

According to official data, Circle issued approximately 10.1 billion USDC and redeemed about 9.8 billion USDC between September 15 and September 21, resulting in a net increase of 300 million in circulation. The total circulating supply of USDC stands at 74.6 billion, backed by 74.8 billion dollars in reserves. These reserves include 41.2 billion dollars in overnight reverse repurchase agreements, 26.5 billion dollars in Treasury bills with maturities under three months, 5.9 billion dollars in deposits at systemically important institutions, and 1.2 billion dollars in other bank deposits.