Circle said it has cleared substantially all of the backlog of minting and redemption requests for USDC as of March 15. Circle expects to restore more capabilities tomorrow.
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Circle Cleared Substantially All of the Backlog of Minting and Redemption Requests for USDC
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According to official data, Circle issued a total of 2.8 billion USDC and redeemed approximately 3 billion USDC in the past 7 days, resulting in a decrease in circulation of approximately 200 million USDC. The total circulation of USDC is 33.1 billion US dollars, with a reserve of 33.2 billion US dollars, including approximately 3.4 billion US dollars in cash, and Circle Reserve Fund holding approximately 29.8 billion US dollars.
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