Circle Reserve Attestation Shows USDC Backing Above Circulating Supply

Circle has issued its latest monthly reserve attestation for USDC, with Deloitte’s review showing reserve assets above total circulating token supply.
The attestation states that USDC reserves stood at $34.5 billion and were backed primarily by short-term U.S. Treasury bills and overnight repurchase agreements. That kind of reserve disclosure matters because stablecoins depend on confidence. Users need to believe that tokens can be redeemed and that reserves are managed conservatively.
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