$USDC USDC is making significant progress, driven by its strong focus on regulatory compliance and transparency. Here are some key developments.

- *Resurgence in Supply*: USDC's market capitalization has grown by 14.3% or over $3.5 billion since December 1, 2023, reaching a total market cap of $28 billion. This growth outpaces Tether's USDT, which expanded by 8.7% to $97 billion over the same period.

- *Regulatory Compliance*: USDC operates under a comprehensive regulatory framework, including registration with the US Financial Crimes Enforcement Network (FinCEN) and adherence to state money transmission laws and the European Union's Markets in Crypto-Assets (MiCA) regulations.

- *Transparency and Reserve Management*: Circle, USDC's issuer, maintains transparency through monthly attestations by top-tier accounting firms, such as Deloitte & Touche LLP, and weekly disclosure of USDC reserve holdings. Approximately 80% of USDC's reserves are held in US Treasury bonds, with the remaining 20% in cash at regulated financial institutions.

- *Growing Presence in Non-US Markets*: USDC is gaining traction in non-US markets, with its share of spot and derivatives activity increasing by almost 5x, albeit from a low base, to 4% of total centralized exchange volumes globally.

- *Partnerships and Listings*: USDC has been relisted on major exchanges like Binance and is supported by Coinbase International Exchange, further expanding its reach and accessibility.

Overall, USDC's progress is marked by its commitment to regulatory compliance, transparency, and stability, positioning it as a leader in the stablecoin market.