$USDC

# USDC

Until mid-2021, Circle stated that each USDC was backed by either one U.S. dollar in reserve or by other "approved investments", though the specifics of these investments were not disclosed. In June 2021, Circle updated its website wording from "backed by US dollars" to "backed by fully reserved assets".

As of 2020, USDC reserves were regularly attested (but not audited) by Grant Thornton, LLP,[6] and as of 2021, the monthly attestations could be found on the Centre Consortium's website.

In December 2024, Forbes reported that USDC had $41 billion in assets under management.