Circle Reveals Assets Backing USDC Stablecoin
The majority of Circle’s USDC stablecoin is backed by U.S. dollars, the company revealed on Tuesday. Circle, a global payments company, was one of USDC’s creators. It published a breakdown of its assets backing the stablecoin for the first time in its latest attestation report, which was dated July 16. According to the report, about 61% of its tokens are backed by “cash and cash equivalents,” meaning cash and money market funds.
Yankee Certificates of Deposit – meaning CDs issued by foreign (non-U.S.) banks – comprise a further 13%, U.S. Treasuries account for 12%, commercial paper accounts for 9%, and the remaining tokens are backed by municipal and corporate bonds. The company has issued about $22.2 billion worth of USDC, according to the attestation.
It’s unclear what, specifically, Circle has invested in to back USDC. The company intends to go public later this year in a merger with a special purpose acquisition company that would value Circle at $4.5 billion.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 87.2% | 13 | $63 163.38 | 2.92% | 0.01% | $1 244 181 299 305 |  |
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| 2 |  ETH |
Ethereum predictions | 87.6% | 20 | $2 972.84 | 1.46% | -3.22% | $357 077 599 643 |  |
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| 3 |  USDT |
Tether predictions | 95.2% | 1 | $0.999853 | 0.02% | -0.03% | $110 823 736 178 |  |
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| 4 |  BNB |
Binance Coin predictions | 90.8% | 15 | $595.76 | 0.22% | 1.60% | $87 925 958 104 |  |
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| 5 |  SOL |
Solana predictions | 81.6% | 29 | $149.54 | 2.98% | -1.24% | $67 075 962 598 |  |
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| 6 |  USDC |
USD Coin predictions | 95.6% | 1 | $1.000152 | 0.01% | 0.01% | $33 111 515 063 |  |
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| 7 |  XRP |
XRP predictions | 87.2% | 14 | $0.509979 | 1.13% | -7.71% | $28 232 039 385 |  |
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| 8 |  TON |
Toncoin predictions | 69.6% | 54 | $7.35 | 5.65% | 25.86% | $25 534 687 441 |  |
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| 9 |  DOGE |
Dogecoin predictions | 79.6% | 34 | $0.154722 | 8.44% | -1.13% | $22 322 595 892 |  |
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| 10 |  ADA |
Cardano predictions | 84.8% | 17 | $0.447216 | 1.40% | -2.62% | $15 951 343 051 |  |
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| 11 |  SHIB |
SHIBA INU predictions | 75.6% | 45 | $0.000024 | 7.73% | 0.69% | $14 319 216 501 |  |
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| 12 |  AVAX |
Avalanche predictions | 78.4% | 33 | $33.35 | -1.05% | -10.65% | $12 723 926 418 |  |
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| 13 |  WTRX |
Wrapped TRON predictions | 80% | 34 | $0.126312 | -0.20% | 6.18% | $11 049 213 638 |  |
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| 14 |  TRX |
TRON predictions | 80% | 34 | $0.126102 | -0.72% | 6.08% | $11 030 830 174 |  |
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| 15 |  STETH |
Lido stETH predictions | 91.6% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
