📉 After Circle's acquisition, the managed assets of USYC have significantly shrunk, raising market concerns.

According to Tom Wan, the data analysis director at EntropyAdvisors, Circle announced the acquisition of the issuer of the tokenized money market fund USYC, Hashnote, on January 21, 2025.

🔍 It is worth noting that at the time, the managed assets of USYC amounted to 1.2 billion dollars, while as of now, that figure has decreased to 285 million dollars, indicating that since the acquisition announcement, the asset scale has declined by over 76%.

This change has sparked further market attention on the asset backing of stablecoins and institutional strategies, and reflects that the tokenization of traditional assets is still in the early stages of integration.