Circle Holds 80% of $USDC Reserves in U.S. Treasury Bills and 20% in Cash in Banking System

Jeremy Fox-Geen, CTO of Circle, said in his latest article about $USDC's transparency that Circle holds approximately 80% of $USDC reserves in U.S. Treasury bills with durations of 3 months or less, and approximately 20% of $USDC reserves as cash within the U.S. banking system.