USDC's circulating supply increased by $2.6 billion over the past week, as Circle issued $8.4 billion and redeemed $5.8 billion in USDC, according to official data. This brings the total USDC supply to $73.1 billion, backed by reserves of $73.4 billion. The reserves include $42.9 billion in overnight reverse repurchase agreements on U.S. Treasuries, $19.8 billion in U.S. Treasuries maturing in under three months, $10.1 billion in deposits at systemically important institutions, and $600 million in other bank deposits.