USDC Burns Over 50 Million Tokens: Impact Minimal, Peg Remains Stable

Circle Internet Financial executed a substantial burn of over 50 million USDC tokens on Ethereum. This action was undertaken to maintain the stablecoin’s $1 peg and align with regulatory demands. No discernible impact on DeFi liquidity or major cryptocurrencies has been reported. The USDC Treasury, overseen by Circle, frequently engages in these token burns as part of their supply management strategy.