USDC attestation reports — 2024-09 vs 2024-11
Every reserve line Circle stated in its 2024-09 and 2024-11 reports for USDC, side by side and verbatim from the stored report rows. A line that one report does not state reads "not stated", never zero, and no line is a judgment of reserve quality.
By ReserveBeat
Open the 2024-09 report · Open the 2024-11 report
Stated lines, side by side
| kind | line (verbatim) | 2024-09 | 2024-11 | unit |
|---|---|---|---|---|
| TOTAL | TOTAL USDC RESERVE ASSETS | 35,533,322,286.000000 | 39,801,630,749.000000 | USD |
| LIABILITY | USDC in Circulation (as defined in the criteria below) | 35,468,964,901.000000 | 39,737,020,007.000000 | TOKEN |
| CATEGORY | U.S. Treasury Repurchase Agreements | 22,556,000,000.000000 | 17,680,000,000.000000 | USD |
| CATEGORY | TOTAL U.S. TREASURY SECURITIES | 8,059,348,784.000000 | 14,801,641,265.000000 | USD |
| CATEGORY | Cash held at regulated financial institutions | 4,047,881,285.000000 | 6,505,203,707.000000 | USD |
| CATEGORY | Cash held in Circle Reserve Fund | 1,004,993,823.000000 | 1,003,902,987.000000 | USD |
| CATEGORY | Cash due to/(owed by) Circle due to timing and settlement differences, net | -3,356,866.000000 | -67,791,634.000000 | USD |
| CATEGORY | Cash due to/(owed by) Circle Reserve Fund due to timing and settlement differences, net | -131,544,740.000000 | -121,325,576.000000 | USD |
Changes as the board computed them (2024-11 vs 2024-09)
| kind | category | 2024-09 | 2024-11 | change | unit |
|---|---|---|---|---|---|
| TOTAL | TOTAL USDC RESERVE ASSETS | 35,533,322,286.000000 | 39,801,630,749.000000 | 4,268,308,463.000000 | USD |
| LIABILITY | USDC in Circulation (as defined in the criteria below) | 35,468,964,901.000000 | 39,737,020,007.000000 | 4,268,055,106.000000 | TOKEN |
| CATEGORY | U.S. Treasury Repurchase Agreements | 22,556,000,000.000000 | 17,680,000,000.000000 | -4,876,000,000.000000 | USD |
| CATEGORY | TOTAL U.S. TREASURY SECURITIES | 8,059,348,784.000000 | 14,801,641,265.000000 | 6,742,292,481.000000 | USD |
| CATEGORY | CASH | 5,052,875,108.000000 | 7,509,106,694.000000 | 2,456,231,586.000000 | USD |
| CATEGORY | TIMING | -134,901,606.000000 | -189,117,210.000000 | -54,215,604.000000 | USD |
Changes are computed from stored report rows: each figure the issuer stated in this period against the same normalized category in the prior period. A side the document does not state stays blank — absence is never zero-filled, and a change is never a judgment of reserve quality.