Circle Issues 11.2 Billion USDC and Redeems 10.2 Billion Over 7 Days

Circle issued about 11.2 billion USDC and redeemed about 10.2 billion USDC in the seven days through August 27, increasing circulation by about 1 billion tokens. According to Odaily, total USDC circulation stood at 73.7 billion tokens, with reserves of about $74 billion, including about $49.6 billion in overnight reverse repo agreements, about $13.2 billion in U.S. Treasuries with maturities under three months, about $10.5 billion in deposits at systemically important institutions, and about $700 million in other bank deposits.