USDC circulation falls by 500M in a week as Circle mints $12.8B
- —Weekly USDC issuance was about $12.8B versus $13.3B in redemptions
- —Circulation fell by roughly 500M to $72B
- —Reserves of $72.2B include $36.1B in overnight repo and $25.9B in short-term Treasuries
- —Deposits at systemically important banks total about $9B
Why it matters: Shrinking supply of the largest stablecoin points to liquidity leaving the crypto market.
Source: PANews