250 Million USDC Newly Minted on Solana

On October 29, according to Whale Alert, the USDC Treasury newly minted 250,000,000 USDC on the Solana chain at 07:04 Beijing Time today, valued at approximately $250 million.

Solana on-chain data indicates that the transaction was executed by the multi-signature minting authority of the USDC token contract. All 250 million USDC have been transferred to a designated token account, with a successful transaction status. Additionally, Whale Alert detected that between 07:19 and 07:20 Beijing Time today, approximately 417 million USDC were transferred in two batches from Coinbase Institutional to Coinbase.

previously reported that on the early morning and earlier in the day on October 28, the USDC Treasury minted 250 million USDC in two separate operations. Large-scale additions to stablecoin supply are typically viewed as an indicator of incoming off-chain funds, but the specific destination of the newly issued USDC requires further tracking.