$USDC USD Coin (USDC) is a stablecoin backed by the US dollar, issued by Circle in collaboration with Coinbase, designed to maintain a stable value of 1:1 with the USD. With a market capitalization of approximately $61.4 billion, it is the second largest stablecoin after Tether (USDT). USDC is widely used in cryptocurrency trading, cross-border payments, and decentralized finance (DeFi) due to its stability and regulation. Recently, the US Senate passed the GENIUS Act, which legitimizes USD-pegged stablecoins, boosting the stocks of Circle (+33%) and Coinbase (+16%). Additionally, Coinbase has integrated USDC as collateral in futures trading and as a payment option on e-commerce platforms like Shopify, marking milestones in its regulated adoption. However, concerns remain about the protection of USDC reserves in the event of Circle's bankruptcy, although the company advocates prioritizing holders in such scenarios.