$USDC As of mid-2021, Circle claimed that each USDC was backed by one US dollar in reserves or by other "approved investments", although details about these investments were not disclosed. In June 2021, Circle updated the content of its website from "backed by US dollars" to "backed by fully reserved assets". [5]

As of 2020, USDC reserves were regularly attested to by Grant Thornton, LLP (but not audited), [6] and as of 2021, monthly attestations could be found on the website of the Centre Consortium. [7]

In December 2024, Forbes reported that USDC had $41 billion in managed assets. [8]