Circle Issues 7.5 Billion USDC and Redeems 6.7 Billion in Seven Days

Circle issued about 7.5 billion USDC and redeemed about 6.7 billion USDC in the seven days ended August 20, increasing circulation by about 800 million tokens. According to Odaily, total USDC circulation stood at 72.7 billion tokens, with reserves of about $72.9 billion, including about $48.1 billion in overnight reverse repurchase agreements, about $12.7 billion in U.S. Treasury securities with maturities under three months, about $11.4 billion in deposits at systemically important institutions, and about $700 million in other bank deposits.