-
Bitcoin Price: $28,209
3.74%
-
All-Time High: $69,045.00
58.96%
- 24h High / 24h Low: $28,454 / $27,077
-
Market Cap: $550,252,393,080
3.78%
- 24h Volume: $16,255,347,011
Circle holds $55.7 billion in assets to back Stablecoin USDC

Source: Circle.com
The crypto company Circle continues to work on its transparency. On July 14, 2022, the company published a detailed breakdown of the assets backing their Stablecoin USD Coin (USDC).
USDC is slightly over-collateralized
In total, Circle holds $55.7 billion in assets on its books to back the issued Stablecoin USD Coin (USDC). As a result, USDC is actually slightly over-collateralized, as the Circle transparency report indicates that there are currently only $55.56 billion worth of USDC in circulation.
Circle continues enhancing our transparency and today we shared a detailed look at the assets backing the USDC reserve. https://t.co/1tuaFWZhIO
— Circle (@circlepay) July 14, 2022
Circle’s assets consist of short-term U.S. government bonds ($42.12 billion) and U.S. dollar cash reserves ($13.58 billion). To meet the industry’s requirements for high transparency, Circle CFO Jeremy Fox-Geen announced plans to publish daily transparency reports in the future.
Disclaimer
This article does not provide investment advice. Historical cryptocurrency data is not a guarantee of future market developments. The author may hold several of the cryptocurrencies mentioned in this article.
Read more About
THIS WEEK’S
Trending Posts
-
June 13, 2023
NFT Marketplaces: A comprehensive guide for artists and traders
-
May 24, 2023
Bitcoin and the Environment: Debunking the Myths
-
February 2, 2023
Explained: Advantages & Disadvantages of KYC
-
January 24, 2023
Ethereum successfully launches Shadow Fork in preparation for upcoming Shanghai Hard Fork
-
January 11, 2023
Assets worth $5 billion in cash and cryptocurrency seized from FTX
SPREAD THE WORD
Share this Post
HAND-PICKED
Curated Cryptocurrency Posts
-
June 13, 2023
NFT Marketplaces: A comprehensive guide for artists and traders
-
May 24, 2023
Bitcoin and the Environment: Debunking the Myths
-
February 2, 2023
Explained: Advantages & Disadvantages of KYC
-
January 24, 2023
Ethereum successfully launches Shadow Fork in preparation for upcoming Shanghai Hard Fork
Didn't find the answer you were looking for?
Feel free to check our cryptocurrency market data or our comprehensive blockchain glossary.