Circle has increased the circulation of its stablecoin, USDC, by approximately $1.2 billion over the past week, as of April 9. During this period, Circle issued $4.9 billion in USDC and redeemed $3.7 billion. The total circulating supply of USDC now stands at $78.3 billion, supported by reserves of $78.4 billion. These reserves include $43 billion in overnight reverse repurchase agreements on U.S. Treasuries, $23.8 billion in U.S. Treasuries with maturities under three months, $11.1 billion in deposits at systemically important institutions, and $600 million in other bank deposits.