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USDC Treasury burns 150 million USDC in Ethereum operations
On January 27, blockchain data confirmed a large-scale destruction operation carried out by the USDC Treasury. According to a report from PANews, the USDC issuer executed two separate burn operations on the Ethereum network with a total volume of 150 million USDC.
The first operation burned 100 million USDC at 22:46 UTC+8, followed by a second transaction of 50 million USDC at 23:01 UTC+8. These two operations demonstrate strategic steps in managing the USDC supply, with a total of 150 million digital currency units removed from circulation through the burn mechanism on Ethereum.
This move reflects precise liquidity management, indicating efforts to control the USDC supply within the Ethereum blockchain ecosystem.