Circle Releases December 2022 USDC Reserves Report of $44.5 Billion

Circle has published an accountant-reviewed report. Regarding Reserves for USDC Stablecoin Support, currently valued at over $44.5 Billion

Circle’s December 2022 reserves are monitored by Grant Thornton. According to Circle’s data, 44,553,543,212 USDC is currently supported by Circle. 44,693,963,701 US dollars held in reserve

It is worth noting that Most of the reserves are invested in various US government bonds. Timothy Singh, Circle’s vice president of accounting, said the fair value of assets in USDC reserves is the sum of US dollar-denominated assets. This includes cash and treasury bonds.

U.S. banks holding Circle’s cash reserves include Bank of New York Mellon, Citizens Trust Bank, Customer Bank, New York Community Bank, Signature Bank, Silicon Valley Bank and Silvergate Bank.

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