USDC Treasury Burns 60 Million Tokens on Ethereum

According to Foresight News, Whale Alert has reported that the USDC Treasury has destroyed 60 million USDC tokens on the Ethereum blockchain. This action is part of ongoing efforts to manage the supply of the stablecoin and maintain its peg to the U.S. dollar. The destruction of tokens is a common practice in the cryptocurrency industry to ensure stability and control inflation. The move reflects the Treasury's commitment to maintaining the value and integrity of USDC in the market.