Circle Annual "USDC Economic Conditions" Report: As of last December, over $21.3 billion of USDC has been redeemed

ChainCatcher news, Circle today released its first annual "USDC Economic Conditions" report, which shows that over $21.3 billion of USDC has been redeemed since its inception until December 2022. Approximately 80% of USDC reserves are held in 3-month U.S. Treasury bills. By the end of January 2023, these reserves, which are 100% held by Circle, will be managed by BlackRock and custodied by BNY Mellon (the world's largest custodian).

In addition, Circle stated that it has been audited by the Bank of the Commonwealth, covering the USDC reserves. The audits for 2019, 2020, and 2021 (in accordance with U.S. public company standards) have been publicly submitted to the U.S. Securities and Exchange Commission (SEC). In the future, Circle and the USDC reserves will be audited by Deloitte. (source link)