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Circle ‘Substantially Clears’ Backlog of USDC Redemptions

Circle — the embattled operator of stablecoin USDC — claims to have "cleared substantially all of the backlog of minting and redemption requests for USDC."

The statement comes via an update on USDC operations, and claims that "since Monday morning, Circle has redeemed $3.8 billion USDC and minted $0.8 billion USDC."

(By Adam James)

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