According to a disclosure page published by BlackRock, Circle has invested 30% of its USD reserves in the US Treasury via Circle Reserve Fund, which is managed by BlackRock. The value of the fund invested comes to approximately $13 billion. The aim is to boost transparency amid the FTX collapse.

The fund has been invested in the government money market to resolve the primary concern of transparency. Considering that the stablecoin issuer handles a large amount of money to build big projects, this move was indeed required to provide assurance to investors and creditors that their funds are safe.

(By Trevor Holman)