Data questions
Is USDC fully backed?
As of , the latest USDC attestation (firm signed as an image, issued ) reports reserves of $73,398,532,613 against 73,320,757,305.00 USDC in circulation. ReserveBeat measured 48,166,117,745.72 USDC on-chain on ethereum at . That reading covers one chain at another time; none of these figures is a verdict.
The answer, from the board
STALE states age, not lateness: the newest report ReserveBeat holds for this token is older than the cadence expected for it, which can happen while the next report is not yet due.
| Measure | Figure | As of |
|---|---|---|
| Reserves reported | 73398532613.000000 | 2026-08-31 |
| As reported in Circle's attestation dated 2026-08-31. Signed as an image | ||
| Liability reported (USDC) | 73320757305.000000 | 2026-08-31 |
| As reported in Circle's attestation dated 2026-08-31. Signed as an image | ||
| Supply measured on ethereum | 48166117745.729931 | 2026-10-19T10:17:59Z |
The report carries its accounting firm's signature as an image rather than as text, so its text layer holds no firm name to extract and no firm is stated here. A firm name never enters the board from outside the document it came from, even where the firm is a matter of public record.
Circle's report states USDC's reserves on their own and counts the liability in tokens, which is why that row reads in USDC rather than dollars. The supply row is a reading ReserveBeat took itself, on the one chain it names, at the instant shown; it is not a total across chains, and nothing on this page divides one figure by another.
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Cite this
Data: ReserveBeat — https://reservebeat.com/questions/is-usdc-fully-backed — figure as reported in Circle's attestation dated 2026-08-31.
Source reportData: ReserveBeat — https://reservebeat.com/questions/is-usdc-fully-backed — supply measured on ethereum at 2026-10-19T10:17:59Z.
Terms used in this answer
Definitions live in the learn section. ReserveBeat defines terms in one place and links to it.
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- ReserveBeat research · How this page is produced
- Attestation status
- STALE
- Newest data timestamp in this answer
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Questions
Common questions
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Each page reads ReserveBeat's own board when you load it. Figures published by issuers pass through exactly as they appear in the attestation reports ReserveBeat parsed; anything ReserveBeat works out itself is labelled as computed and the calculation is written down.
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