{"data":{"issuer_slug":"circle","issuer_name":"Circle","logo":null,"verification_interval":"15m","basis":"Observed figures from Philidor’s stablecoin backing look-through. Reserve value is partitioned by its strongest admissible current evidence layer: direct on-chain verification, issuer-published third-party attestation results, source report only, or unverified. Philidor does not independently fetch the auditor artifacts behind issuer-published attestation results. Liability evidence is measured separately. Shares are mutually exclusive and total 100%; 0% direct on-chain does not mean 0% backing. Reserve and liability timestamps are separate, stale evidence fails closed, and cross-time or cross-scope ratios are withheld. Unobserved fields are null with a reason; nothing is inferred. This is decision evidence, not a solvency guarantee.","products":[{"symbol":"USDC","name":"USD Coin","address":"0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48","chain_id":1,"status":"live","status_reason":null,"verification_method":"issuer_report","liability_method":"issuer_report","reserve_evidence":{"direct_onchain_pct":0,"issuer_published_third_party_attestation_pct":0,"source_report_only_pct":100,"unverified_pct":0},"liability_evidence":{"direct_onchain_pct":0,"source_report_only_pct":100,"unverified_pct":0},"assurance":{"attestation_status":"not_applicable","attestation_detail":null,"ratio_basis":"issuer_reported_reserves_issuer_reported_liabilities","ratio_scope_comparable":true,"ratio_scope_reason":null},"freshness":{"snapshot_age_seconds":5847,"snapshot_max_age_seconds":25200,"source_age_seconds":330881,"source_max_age_seconds":864000,"operand_skew_seconds":0,"operand_max_skew_seconds":60,"snapshot_within_limit":true,"source_within_limit":true,"operands_within_limit":true},"onchain_verified_pct":0,"verifiability_pct":0,"collateral_ratio":1.0042646856513964,"supply_usd":72690000000,"total_reserves_usd":73000000000,"last_verified_at":"2026-10-16T18:17:13.416Z","last_observed_at":"2026-10-16T18:17:13.416Z","source":"circle","source_updated_at":"2026-10-12T23:59:59.000Z","liability_updated_at":"2026-10-12T23:59:59.000Z","verification_interval":"15m","evidence_interval":"7d","max_operand_skew_minutes":1,"source_url":"https://www.circle.com/transparency","evidence_basis":"Circle weekly disclosure; reserves and USDC in circulation are rounded to $0.01bn and share the same stated as-of date. Monthly third-party assurance is a separate evidence layer.","delta_neutral":null,"insurance_fund_usd":null,"sleeves":[{"sleeve_key":"circle_overnight_reverse_repo","weight_pct":49.726027397260275,"amount_usd":36300000000,"score":2,"score_source":"fail_closed"},{"sleeve_key":"circle_under_3m_treasuries","weight_pct":37.3013698630137,"amount_usd":27230000000,"score":2,"score_source":"fail_closed"},{"sleeve_key":"circle_systemic_bank_deposits","weight_pct":11.986301369863014,"amount_usd":8750000000,"score":2,"score_source":"fail_closed"},{"sleeve_key":"circle_other_bank_deposits","weight_pct":0.9863013698630136,"amount_usd":720000000,"score":2,"score_source":"fail_closed"}],"published_score":9.25,"published_tier":"Prime","snapshot_at":"2026-10-16T18:17:13.416Z","null_reasons":{"delta_neutral":"No observed source asserts delta-neutrality for this product.","insurance_fund_usd":"No adapter observes an insurance fund for this product yet."}}],"unobserved_products":[],"headline":{"headline_collateral_ratio":1.0042646856513964,"headline_reserves_usd":73000000000,"headline_supply_usd":72690000000,"verifiability_pct":0,"reserve_evidence":{"direct_onchain_pct":0,"issuer_published_third_party_attestation_pct":0,"source_report_only_pct":100,"unverified_pct":0},"liability_evidence":{"direct_onchain_pct":0,"source_report_only_pct":100,"unverified_pct":0},"status":"live","status_reason":null,"last_verified_at":"2026-10-16T18:17:13.416Z","oldest_source_updated_at":"2026-10-12T23:59:59.000Z","last_observed_at":"2026-10-16T18:17:13.416Z","null_reasons":{}}}}