Circle's USDC circulating supply declined by approximately $500 million over the seven days ending October 22, as redemptions outpaced new issuance. During the period, Circle minted about $12.8 billion in USDC while redeeming roughly $13.3 billion, bringing total circulation to $72 billion.
USDC reserves stand at approximately $72.2 billion, comprising $36.1 billion in overnight reverse Treasury repos, $25.9 billion in Treasury securities maturing within three months, $9.0 billion in deposits at systemically important banks, and $700 million in other bank deposits.
USDC Circulating Supply Drops ~$500M in 7 Days as Redemptions Outpace Issuance
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