Meanwhile, this is what the rest of the tokenized treasuries products did during the same period. Circle was the only product that decreased (and significantly) in the entire market.
Circle announced the acquisition of Hashnote, the issuer of USYC (Tokenized MMF), on January 21, 2025. Back then, USYC still had an AUM of $1.2B. Currently, the AUM of USYC has dropped to $285 million, representing a 76% decrease since the acquisition announcement
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