USDC Treasury burns 100 million USDC on Solana

Circle's treasury removed roughly $100.15 million in stablecoins from circulation in another routine supply adjustment The USDC Treasury burned 100 million USDC on November 2, 2026, according to blockchain tracker Whale Alert. The tokens were worth approximately $100.15 million at the time. The burn took place on the Solana blockchain. Whale Alert flagged it as it happened. What actually happened Circle, the company behind USDC, destroyed 100 million tokens held in its treasury. Burning a token removes it from circulation for good. The reported value of the burn was approximately $100.151 million. The slight premium over a flat $100 million reflects where USDC was trading at the moment of the burn, not any change in how the token works. No unusual market disruptions were reported around the transaction. Burns like this one are part of how Circle manages USDC’s supply. The goal is to make sure the number of tokens in circulation never exceeds the reserves backing them. USDC is designed to be backed 1:1 by the US dollar. Every token out in the wild should have a matching dollar sitting behind it. A familiar pattern This was not Circle’s first large burn of the year, and it was not it...