I’m not sure I follow. Circle don’t hold tens of billions of USDC: USDC is minted when they receive USD at a one-to-one ratio. What coins are you proposing they

I’m not sure I follow. Circle don’t hold tens of billions of USDC: USDC is minted when they receive USD at a one-to-one ratio. What coins are you proposing they burn? If there’s $10bn USD missing they’d need to burn $10bn USDC.