USDC Issuer Circle Has Ditched All U.S. Treasuries From Stablecoin Reserve Fund Amid Debt Ceiling Showdown

This is a significant change since the end of April, when the fund held more than $30 billion in U.S. Treasury bonds, according to Circle’s monthly attestation. The last Treasury bond worth $4 billion among the fund’s holdings matured on Tuesday, the fund’s website showed.