The Circle Reserve Fund Managed By BlackRock Has $12.79 Billion Invested In
According to Circle’s most recent attestation report, 30% of USDC’s reserves – or $12.79 billion – are invested in its government money market fund, the Circle Reserve Fund, managed by BlackRock. Thus, the RRP would significantly improve USDC’s risk profile.
Base on BlackRock’s disclosure daily update page, the share of USDC reserves held in the Circle Reserve Fund has climbed to about $28.6 billion, or 65%, since then. Circle is ceding some of its management over USDC’s reserves to an external manager subject to SEC oversight, which eventually makes USDC safer. Transparency is also improved because USDC users can now receive regular updates from BlackRock.
Source
https://t.me/DeFi_Ethereum
