Circle adjusts the reserve composition of USDC and will no longer hold U.S. Treasury bonds maturing after early June

ChainCatcher news, Circle CEO Jeremy Allaire stated in an interview that Circle has adjusted its reserve portfolio supporting USDC to include short-term U.S. Treasury bonds, thereby avoiding potential U.S. debt default. Allaire mentioned that the company no longer holds U.S. Treasury bonds maturing after early June.

Information disclosed by the BlackRock-managed Circle Reserve Fund shows that the bonds currently held by the reserve fund are set to mature no later than May 31. (Source link)