PANews reported on January 28 that, according to Whale Alert monitoring, the USDC Treasury destroyed 95,150,000 USDC (worth $95,191,295) on the Ethereum networkPANews reported on January 28 that, according to Whale Alert monitoring, the USDC Treasury destroyed 95,150,000 USDC (worth $95,191,295) on the Ethereum network
The USDC Treasury destroyed 95.15 million USDC tokens on Ethereum.
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News Brief
On January 28, WhaleAlert spotted USDC Treasury burning roughly 95.15 million USDC tokens—worth about $95.19 million—on Ethereum. This substantial destruction pulls tokens out of circulation, generally signaling redemptions where holders convert their stablecoins back to US dollars via the issuer. Therefore, these burns represent standard procedures that preserve USDC's dollar peg by balancing supply with genuine demand and redemption requests from both institutional and individual users.
PANews reported on January 28 that, according to Whale Alert monitoring, the USDC Treasury destroyed 95,150,000 USDC (worth $95,191,295) on the Ethereum network.
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