According to data disclosed by Tom Wan, head of data analysis at Entropy Advisors, Circle announced the acquisition of Hashnote, the issuer of USYC (tokenized currency market fund), on January 21, 2025. At that time, the assets under management of USYC were still $1.2 billion.

Currently, the assets under management of USYC have dropped to $285 million, a decrease of 76% since the acquisition announcement.