$USDC USD Coin (USDC), issued by Circle, is a stablecoin pegged 1:1 to the U.S. dollar, backed by cash, short-dated U.S. Treasuries, and overnight Treasury repurchase agreements. As of June 18, 2025, its market cap is approximately $61.5 billion, making it the second-largest stablecoin after Tether’s USDT ($152.7 billion).Recent Developments:GENIUS Act Impact: The Senate’s passage of the GENIUS Act on June 17, 2025, establishes a regulatory framework for stablecoins, requiring 1:1 reserves and