TechFlow news, according to Decrypt, Circle CFO Jeremy Fox-Geen stated that regardless of market conditions, Circle expects to go public via SPAC (Special Purpose Acquisition Company) by the end of 2022. He noted that Circle is a registered financial services company, operating under the same regulatory framework as payment firms like Apple Pay and PayPal, the operator of mobile payment service Venmo. According to Circle's latest report, USDC reserves are now fully held in cash and three-month U.S. Treasury bills, completely separate from the company’s operations. As of June 30, the total amount of USDC in circulation was 55,569,519,982 tokens, backed by reserve assets totaling $55.7 billion.
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