USDC circulation increased by approximately $300 million in the seven days ending September 21, bringing total supply to $74.6 billion. Circle issued $10.1 billion and redeemed $9.8 billion during the period, reflecting continued net inflows into the stablecoin. Total USDC reserves stand at roughly $74.8 billion, comprising $41.2 billion in overnight reverse repurchase agreements, $26.5 billion in Treasury bills maturing within three months, $5.9 billion in deposits at systemically important institutions, and $1.2 billion in other bank deposits.