USDC in Circulation Decreases by 1.1 Billion in 7 Days Amid Increased Redemptions

According to official data, USDC in circulation decreased by approximately 1.1 billion over the past seven days ending June 25, as Circle issued 6 billion USDC while redeeming 7.1 billion. Total USDC in circulation stands at 73.6 billion, backed by reserves of approximately 73.9 billion USD. Reserves comprise overnight reverse repurchase agreements of 52.2 billion USD, Treasury bills with maturities under three months of 10 billion USD, deposits with systemically important institutions of 11 billion USD, and other bank deposits of 0.7 billion USD.
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