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USDC Reserve Data Revealed: $300 Million Net Outflow in One Week, Nearly 70% of Holdings in US Treasuries
【Crypto World】Circle’s official latest release of stablecoin operation data as of the week ending January 8th shows some interesting insights.
In the past 7 days, 5.4 billion USDC were newly issued, while 5.7 billion USDC were redeemed, resulting in a net decrease of 300 million in total circulation. Currently, the total circulating supply of USDC remains stable at 74.9 billion.
What’s more noteworthy is the composition of the reserves. Out of the $75 billion in reserves, overnight reverse repurchase agreements account for the majority, approximately $50.7 billion; short-term U.S. Treasuries with maturities of less than 3 months amount to $13.7 billion; deposits from systemically important institutions are about $9.9 billion; the remaining $700 million is spread across other bank deposits.
This allocation clearly reflects Circle’s conservative approach to risk management—U.S. Treasuries and repurchase agreements make up nearly 70%, indicating ample liquidity. For USDC users, this reserve structure, heavily concentrated in dollar assets, also provides an additional layer of stability.
70% of US debt... is this the answer to stablecoins?
Wait, such a large overnight repurchase? Is Circle playing with fire?
Circulating supply shrank by 74.9 billion, will more people come in later?
Conservative risk management? I think it's being hijacked by the Federal Reserve
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Overnight repurchase of 50.7 billion? Circle has all their money tied up with the Federal Reserve, betting that government bonds won't explode
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Circulating supply of 74.9 billion now feels less hot... When Bitcoin rises, USDC is the real star
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Holding 70% of US Treasuries sounds stable, but also too conservative, right? Feels like Circle is playing it safe
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A net outflow of 300 million in a week, something's going on, looks like the market is moving
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It would be great if this data could be transparent on the blockchain someday, always have to wait for official reports to know
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Such a high proportion of US Treasuries... What if something happens in the US?
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Having enough reserves is good, but locking into the dollar system also seems risky
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Only 74.9 billion? I thought it was more before?
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So much overnight repurchase, indicates interest rates are decent, Circle is earning on the spread
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Seventy percent backed by US debt, Circle's approach is stable, but it seems there's no room for innovation
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Huh, redemptions are exceeding issuances? Is the market shorting USDC?
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750 billion in reserves all invested in US debt, really thinking of itself as a central bank haha
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Ample liquidity ≠ truly stable, wait until US debt prices fluctuate and you'll know
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99 billion in deposits at systemically important institutions, where does this sense of security come from?
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Overnight repurchase of 50.7 billion? Needs renewal every day, that’s the real instability factor
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507 billion in reverse repos? Feels like a bet that US debt won't collapse.
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A shrinking circulation might actually be a good sign, indicating that demand has really cooled.
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Seventy percent of US debt is being pressured. Once Powell pulls a stunt, USDC will be finished.
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Huh, Circle is so cautious? Looks like they're also scared.
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Deposits are only 9.9 billion, feels like not enough to withstand risks.
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A net outflow of 300 million this week, is the market signaling a change?
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US debt allocation makes up the majority... Is this what they call the stability of stablecoins?
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Why does it feel like USDC is betting that the US won't fall?
Weekly redemptions of 5.7 billion, issuance only 5.4 billion, this pace is interesting.
U.S. debt accounts for 70%... Basically, it's a bet on the dollar.