Circle Issues $5.4 Billion USDC as Circulating Supply Rises by 100 Million

Circle issued about 5.4 billion USDC and redeemed about 5.3 billion USDC in the seven days through August 13, leaving circulating supply up by about 100 million tokens. According to ChainCatcher, total USDC circulation stood at 71.9 billion tokens, with reserves of about $72.6 billion.The reserve breakdown included about $47.7 billion in overnight reverse repurchase agreements, about $13.5 billion in U.S. Treasurys with maturities under three months, about $10.2 billion in deposits at systemically important institutions, and about $1.2 billion in other bank deposits.