Ethereum Blockchain Witnesses Destruction of 55 Million USDC Tokens by U.S. Treasury

U.S. Treasury Reduces Ethereum-Based USDC Stablecoin Supply by 55 Million Tokens: A Look at the Verification Process and Market Implications.

, and Administrator

2025 September 27 . 3:45 AM

2 min read

U.S. Treasury Destroys More than 55 Million USDC Tokens on Ethereum Blockchain

Ethereum Blockchain Witnesses Destruction of 55 Million USDC Tokens by U.S. Treasury

In the dynamic world of cryptocurrencies, several significant events have taken place recently. Here's a summary of some of the most noteworthy developments.

Seoul Protocol Upgrade on Tezos

The Seoul Protocol upgrade on Tezos has garnered attention for its potential to enhance institutional security, boost network efficiency, and offer 63x network efficiency gains. This upgrade is expected to strengthen Tezos' position in the institutional stock market and improve the overall efficiency of the network.

Record-Breaking Presales

The Four.Meme Presale set a new record on the BNB Chain, raising a staggering $252M. Meanwhile, the $LIVE Crypto Presale also made headlines with its impressive 12x returns, RWA rewards, and a $2.5 million giveaway.

Crypto Investing Simplified

From entry to profitability, LET Mining is making waves by simplifying crypto investing. The platform aims to make crypto investing accessible and efficient for everyone.

Cryptocurrency Seizure and Burn

In Canada, the RCMP conducted a record $56 million cryptocurrency seizure. Meanwhile, the USDC Treasury destroyed 55,025 USDC on the Ethereum blockchain, valued at approximately $54,986,842. The aim was to maintain price stability by reducing the circulating supply. Despite the recent burn, the token's trading volume saw a 17.82% change, indicating strong market engagement.

Regulatory Developments

The SEC delayed its decision on Franklin's Solana ETF to November 2025. The Federal Reserve highlighted stablecoins amid the passage of the GENIUS Act. The SEC and CFTC proposed regulated U.S. Perpetual Swaps. The SEC also held a cryptocurrency roundtable on financial surveillance and privacy.

Institutional Moves

Elon Musk launched Macrohard, an AI-driven software company. Coinbase introduced on-chain DeFi lending with Morpho integration. Tether aims for U.S. dominance in the stablecoin market. Grayscale CoinDesk Crypto 5 ETF debuted post-SEC approval.

New Hires and Appointments

On July 25, 2025, the University of Ghana employed John Kojo Kumi as a cryptocurrency researcher and author. Kojo Kumi, a cryptocurrency researcher and writer specializing in emerging startups, tokenomics, and market dynamics within the blockchain ecosystem, holds a Bachelor of Arts in Geography and Rural Development from Kwame Nkrumah University of Science and Technology, Kumasi.

Partnerships and Collaborations

Google and Coinbase collaborated on the launch of an AI payment protocol. Hong Kong set new guidelines for virtual asset accounting. Bitwise submitted an application for a stablecoin and tokenized ETF.

Regulated Airdrops and Futures

Binance Alpha users can claim MRLN airdrop points starting September 16. Coinbase is launching Mag7+ Crypto Equity Index Futures.

Stablecoin Market Dynamics

Strategic supply reductions by stablecoin issuers could bolster demand and market confidence, according to Coincu research. CleanCore completed a $175M investment, establishing a DOGE Treasury.

Industry Expansion

Bullish Europe secured a German crypto license for EU expansion. Coinbase's Base is exploring token issuance, aiming for decentralization.

Trade Relations

Xi Jinping and Trump addressed China-US trade relations.

New Guidelines

Hong Kong set new guidelines for virtual asset accounting.

Market Reactions

Community reactions to the events were routine, with no unusual commotion on social media platforms like Twitter.

European Expansion

Bullish Europe secured a German crypto license for EU expansion.

Decentralization Aim

Coinbase's Base is exploring token issuance, aiming for decentralization.