USDC supply rises $400M over past week; circulation stands at $78.6B

Circle's latest disclosures show that in the seven days through April 16, the company minted about $5.9 billion of USDC and redeemed roughly $5.5 billion, lifting net circulation by around $400 million. Total USDC in circulation is $78.6 billion, backed by approximately $78.8 billion in reserves. The reserve mix includes about $46.3 billion in overnight repurchase agreements, $20.9 billion in U.S. Treasury securities maturing in under three months, $11 billion in deposits at systemically important institutions, and $600 million in other bank deposits.