Circle released data on USDC steiblocoin reserves.
According to the documentation, there are 50.6 billion coins in circulation, and 8.4 billion USDC were issued in the last week, of which 6.7 billion USDC were redeemed.
“The USDC has always been backed by the equivalent value of dollar-denominated assets. USDC reserves are held at leading U.S. financial institutions, including BlackRock and Bank of New York Mellon,” the report said.
22.9% ($11.6 billion) of the reserves are backed by cash dollars and 77.1% ($39 billion) by U.S. Treasury bonds with maturities of three months or less.