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Circle, the USDC Issuer, Takes Bold Move: Removes All U.S. Treasuries from $24B Reserve Fund Amid Debt Ceiling Showdown$24b-reserve-fund-amid-debt-ceiling-showdown/5619998
In the midst of a looming financial crisis, Circle Internet Financial has made significant changes to its USD Coin (USDC) backing reserves. With precautionary measures in mind and an eye fixed firmly on self-preservation, the stablecoin issuer decided to eliminate all U.S Treasury bonds from their reserve fund.