Circle has invested 65% of its USDC reserves in the government money market fund managed by BlackRock, the Circle Reserve Fund

ChainCatcher news, according to Circle's latest proof report, Circle has invested 30% of its USDC reserves (approximately $12.79 billion) in the Circle Reserve Fund managed by BlackRock. This brings the proportion of USDC reserves invested in the Circle Reserve Fund to approximately $28.6 billion, or 65%.

It is reported that financial analyst @jp_koning believes Circle is transferring some control over its USDC reserves to an SEC-regulated external entity, which ultimately makes USDC safer. (source link)