Circle's USDC Treasury minted 250 million USDC, valued at approximately $250.05 million. This marks the second consecutive large-scale minting event of identical size, signaling continued institutional or market-maker demand for stablecoin liquidity. The back-to-back mints bring total new USDC issuance to 500 million units in this reporting window, reinforcing the trend of expanding dollar-backed stablecoin supply across on-chain markets.