Circle's reserve funds no longer include U.S. Treasury bonds

According to ChainCatcher, the Circle Reserve Fund website shows that the fund's managed assets of $24 billion have now all been converted to overnight repurchase agreements. According to Circle's monthly certification report, this is a significant change since the end of April, when the fund held over $30 billion in U.S. Treasury bonds, with the last remaining $4 billion in U.S. Treasury bonds maturing on Tuesday.

ChainCatcher previously reported that Circle CEO Jeremy Allaire stated in an interview that Circle has adjusted its reserve portfolio supporting USDC to include short-term U.S. Treasury bonds, thereby avoiding potential U.S. debt default. The company no longer holds U.S. Treasury bonds maturing after early June. (source link)