USDC circulation drops by 700 million, Circle's behind-the-scenes capital deployment raises questions! As of April 23, over the past 7 days, Circle issued about 5.1 billion USDC but also redeemed about 5.8 billion USDC, resulting in a circulation decrease of approximately 700 million tokens. Currently, the total circulating supply of USDC is 78 billion tokens, with a reserve of $78.2 billion, much of which is used for safe short-term investments: overnight reverse repurchase agreements: about $47.2 billion, short-term government bonds under 3 months: about $19.4 billion, systemically important institution deposits: about $11 billion, other bank deposits: about $600 million.