Circle issued a total of 1.5 billion USDC and redeemed 1.4 billion USDC in the past 7 days, with an increase of 100 million in circulation. As of November 30th, the total circulation of USDC is 24.4 billion, with a reserve of 24.6 billion US dollars, including 1.9 billion US dollars in cash, and Circle Reserve Fund holds 22.7 billion US dollars.

Circle, the issuer of USDC stablecoin, has denied allegations of illicit financing and connections to Tron founder Justin Sun in an open letter to US senators Elizabeth Warren and Sherrod Brown. The letter, signed by Circle's chief strategy officer and head of public policy, Dante Disparte, dismissed claims made by non-profit watchdog group Campaign for Accountability (CfA) that Circle had ties to Sun and facilitated major flows of funds to Hamas or Hezbollah. Disparte stated that Circle does not finance illicit actors and does not provide financial services to Justin Sun or any entity owned or controlled by him. The allegations against Circle are based on unverified social media posts, and Circle terminated all accounts held by Sun and his affiliated companies in February 2023.

According to data from Circle's official website, Golden Finance reported that Circle issued a total of 1.6 billion USDC in the past 7 days, redeemed 1.2 billion USDC, and increased the circulation by 400 million USDC. As of November 24th, the total circulation of USDC was 24.6 billion, with a reserve of 24.8 billion US dollars, including 2.1 billion US dollars in cash, and Circle Reserve Fund holding 22.7 billion US dollars.

According to Spot on China monitoring, a whale with an address starting with 0x915 sold 13 million RLB (worth 2.275 million USD) at an average price of 0.175 USD, causing a 6.3% price drop about 12 hours ago. In the past two weeks, the whale has sold 30.4 million RLB at an average price of 0.182 USD and exchanged it for 5.536 million USDC.

Aave community member EzR3aL initiated a temperature check proposal on the governance forum to add native USDC to the Aave V3 Base market. Currently, the Aave V3 Base market only supports the bridged version of USDC called "USDbC". As of November 23, the supply of USDC on Base was 159 million, while the supply of the bridged version was approximately 74 million. Coinbase supports both assets and converts USDbC to USDC when users withdraw from Coinbase, causing the supply of USDbC to decrease over time.

According to user X @ai_9684xtpa, who is monitoring it, the whale who shorted LINK on October 31 added 50,000 USDC collateral to Aave and borrowed 10,000 LINK, and then continued to short LINK in a loop by "selling LINK for stablecoins, increasing collateral, and borrowing LINK." The last sell was six hours ago. Currently, there are 50,000 LINK to be repaid, and the health factor is 1.22.

Whale Alert monitoring reported that at 07:25:11 Beijing time today, USDC Treasury minted 50,000,000 USDC.

According to Spot on Chain data, an address starting with 0xd08 sold all of its approximately 6.042 million RLB holdings 12 and 8 hours ago at an average price of $0.208, in exchange for 1.26 million USDC. Data shows that the same address purchased these RLB for an average price of $0.128 and 774,000 USDC on October 11, realizing a profit of $485,000 (+62.6%) from this sale.

Cross-chain bridge Allbridge has announced the integration of its Allbridge Core with Circle's cross-chain transfer protocol (CCTP). This update enables Allbridge Core users to benefit from minimum slippage cross-chain transfers on all USDC routes that support CCTP. The new swapping options will provide support for USDC transfers between Avalanche, Arbitrum, and Ethereum.

Data tracked by blockchain analysis company Glassnode shows that for the first time in over a year, funds have flowed into the cryptocurrency market through stablecoins or tokens pegged to the US dollar. The 90-day net change in supply of the top four stablecoins - Tether (USDT), USD Coin (USDC), Binance USD (BUSD), and Dai (DAI) - has turned positive, marking the first occurrence since the Terra crash in mid-May 2022.