Circle · Federal Reserve (FED) · U.S. Treasury · NewsBTC
Circle Reserve Attestation Indicates USDC Backing Above Circulating Supply
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Key facts
- The attestation states that USDC reserves stood at $34.5 billion and were backed primarily by short-term U.S. Treasury bills and overnight repurchase agreements
- This article was written by the News Desk and edited by Samuel Rae
- Circle has issued its latest monthly reserve attestation for USDC, with Deloitte’s review showing reserve assets above total circulating token supply
- USDC has long tried to compete on transparency and regulatory alignment
Summary
Circle has issued its latest monthly reserve attestation for USDC, with Deloitte’s review showing reserve assets above total circulating token supply. The attestation states that USDC reserves stood at $34.5 billion and were backed primarily by short-term U.S. Treasury bills and overnight repurchase agreements. For more details, visit the official Circle platform. Reserves were mostly held in short-term U.S. Treasuries and overnight repo agreements.