Circle's USDC circulation decreased by 3.4 billion within a week

PANews reported on January 31 that, according to official data, in the 7 days ending January 29, Circle issued approximately 5.2 billion USDC and redeemed about 8.6 billion USDC, resulting in a decrease of around 3.4 billion in circulation. The total USDC in circulation is 70.2 billion, with reserves of about 70.3 billion US dollars. Of these reserves, approximately 41.2 billion US dollars are in overnight reverse repo agreements with US Treasuries; about 18.8 billion US dollars are in US Treasuries with maturities of less than 3 months; deposits at systemically important institutions are around 9.4 billion US dollars; and other bank deposits are about 1 billion US dollars.