Circle Restarts U.S. Treasury Purchases in BlackRock-Managed USDC Reserve Fund
Repurchase agreements will keep being part of the reserve fund, Circle’s chief financial officer said Wednesday during a company call.
Stablecoin issuer Circle Internet Financial has started buying U.S. Treasury bills as a reserve asset for its $28 billion USD Coin () after amid the U.S. debt ceiling standoff last month.
The (USDXX), which is managed by asset management giant BlackRock (BLK), has started “building up our direct holdings of Treasuries,” chief financial officer Jeremy Fox-Geen said Wednesday during a company call that CoinDesk attended.
The fund will also keep repurchase agreements () as part of the reserves, Fox-Geen added.
The development came after Circle the backing of its stablecoin last month to protect USDC from a potential fallout if the U.S. government failed to increase its ability to borrow and default on its debt.
CEO Jeremy Allaire said in early May that the firm would not hold bonds maturing beyond the end of the month. By June, CoinDesk reported that the reserve fund into involving systemically important banks such as Goldman Sachs, BNP Paribas, Bank of America and Royal Bank of Canada.
Eventually, U.S. lawmakers struck a deal to increase the nation’s debt limit and President Joe Biden the legislation on June 3, averting calamity on financial markets.
As of June 20, Circle added $2.2 billion of T-bills to the fund, while repos constituted some 90% of the fund’s $24.7 billion in assets, according to BlackRock’s website. The company held an additional $3.5 billion in , the “vast majority, over 90%” stored at the Bank of New York Mellon, Fox-Geen said.
Edited by James Rubin.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
DASH rose by 8.58% on December 3, 2025, driven by insider purchases and upcoming earnings schedule
- DoorDash director Alfred Lin’s $100M stock purchase boosts shares 8.58% on Dec 3, 2025, signaling confidence in long-term growth. - DASH shows mixed short-term trends (11.72% weekly drop vs. 35.93% annual gain) amid broader market volatility and earnings season uncertainty. - Analysts project 2.22 EPS for DoorDash, with ratings split between "Strong Buy" and "Hold," reflecting cautious optimism about revenue growth and macroeconomic risks. - Insider buying contrasts with CEO’s $56.5M share sale, highligh
U.S. November ADP employment change at -32K, vs. 10K expected and 42K prior.
Hyperliquid (HYPE) Price Fluctuations: Unraveling Blockchain Hazards and Institutional Confidence for 2025
- Hyperliquid (HYPE) dominates 73% of Perp DEX market share in 2025 through $5B TVL, BlackRock/Stripe partnerships, and 11% HLP returns despite security breaches. - Repeated 2025 security incidents ($4.9M POPCAT attack, $21M private key breach) triggered 20%+ price drops and $4B TVL decline amid liquidity flight. - Institutional trust persists as TVL/open interest grew post-March 2025, but circulating supply unlocks and Lighter/Aster competition threaten HYPE's $34 price stability. - Platform's success hin
Strategic Property Investment in the Revitalization of the Former Xerox Campus: Infrastructure-Led Renewal in Webster, NY
- Webster , NY, is transforming its post-Xerox campus via $14.3M in state infrastructure grants for industrial upgrades and public-private partnerships. - Road, sewer, and electrical improvements reduced industrial vacancy to 2%, attracting $650M fairlife® dairy plant and 250 jobs. - Residential values rose 10.1% annually as NEAT corridor targets $1B in development by 2026 with $283M public-private investment. - Strategic infrastructure funding de-risks development, creating a scalable model for post-indus
Trending news
MoreCrypto prices
More
