USDC Treasury Destroys Over 65 Million Coins

According to Odaily, the USDC Treasury has reportedly destroyed 65,025,829 USDC coins. The event took place on May 23rd, at approximately 23:21 Beijing time. The total value of the destroyed coins is estimated to be around 65,058,341 US dollars. The USDC Treasury is responsible for the issuance and management of USDC coins. The destruction of such a significant amount of coins is a noteworthy event in the cryptocurrency market. The reasons behind this action have not been disclosed yet. It's important to note that the value of the destroyed coins is based on the current market value of USDC. The actual impact on the market due to this event is yet to be determined. The cryptocurrency market is known for its volatility, and such events can potentially have significant effects on the market dynamics.