$50M USDC Vanishes

The USDC Treasury has burned 50,000,000 $USDC on Ethereum, instantly removing $50 million of stablecoin liquidity from circulation.

No mint followed, no offset announced, so it appears that this is a pure contraction event. In a market where stablecoin supply often leads risk appetite, burns matter more than people think.

Quiet balance-sheet moves like this tend to show up in liquidity before they show up in price. $ETH #stablecoin