Circle's Reserves Now Worth $55.7B, a New Report Shows

A recent blog post from Circle reveals that the company is holding USDC assets worth $55.7B. The USD Coin holdings consist of cash and US treasuries worth $13.58B and $42.12B, respectively.

Timeline of Usd-coin

Stablecoin issuer Circle is unveiling a full breakdown of its USD Coin (USDC) reserves as part of its commitment to increase transparency. According to a new company blog post, Circle is issuing its first ever monthly breakdown of USDC reserve assets to demonstrate the stablecoin's full backing and peg to the US Dollar.

The Circle USDC issuer disclosed their reserves and proved that the company is actually liquid and showed that its stablecoin is fully backed by physical dollars as we can see more today in our latest Circle news.

The entire crypto space felt a negative impact from the failure of the algorithmic stablecoin UST and Terra's native token, LUNA. Other top stablecoin projects like Tether's USDT and Circle's (USDC) have received more pressure from different angles.

The payments management firm has released a detailed reserve report, revealing that its USDC stablecoin is backed only by cash and short-term treasury bonds.  Full Reserve Report To Win Trust In a bid to practice transparency and instill trust among its customers, Circle Internet Financial has released a full breakdown of its USD Coin (USDC) holdings.

Circle issued its first monthly report of USDC reserve assets on July 14 in an effort to enhance transparency. The post Circle shuts down critics with on-going disclosures on USDC reserve assets appeared first on CryptoSlate.

The crypto bear market has dragged many platforms to their knees, while most of the assets have plunged hard by nearly 90% from their highs. Bitcoin specifically dropped heavily from $69,000 amid the correction and slashed heavily from $45,000 to as low as $17,600 due to a couple of crashes led by the lending platforms. …

Matt Taibbi, a notable author, and journalist wrote a scathing article warning against investing in USDC. Pointing to the Circle being the sole counterparty to its reserve funds, Taibbi revealed that Circle's Reserve Fund would belong to the company and not its holders.

Banking Circle, the tech-first payments bank, is shifting the dial in the virtual assets market with a new service for banks and payments businesses. By adding USDC stablecoins to its payment rails for payment acceptance, processing and settlement, Banking Circle is “delivering an easy to.

Financial infrastructure provider Banking Circle said July 8 that it has started offering payment acceptance, process, and settlement in USDC. The post Banking Circle adds USDC payments and fiat conversion appeared first on CryptoSlate.

Circle CEO Jeremy Allaire has said users of Circle Yield can withdraw their money early without facing penalties as cryptocurrency markets see their worst performance in years. The post Circle Allows ‘Free' Early USDC Withdrawal From Fixed Yield Treasury Product appeared first on BeInCrypto.