USDC, the stablecoin issued by Circle, experienced a net reduction of $1.7 billion in circulation between November 13 and 20, 2025. During this period, Circle issued approximately $6.3 billion USDC while redeeming around $8 billion USDC. The total supply of USDC now stands at $73.8 billion. Circle's reserves are reported to be approximately $74.1 billion, comprising $9.2 billion in cash and $64.9 billion held in the Circle Reserve Fund. This adjustment in circulation reflects the ongoing dynamics in the stablecoin market as issuers manage supply and demand.