A post by @whale_alert on X.

USDC Treasury burned 104,018,395 USDC, valued at roughly $104.04 million, in a single Ethereum transaction flagged by Whale Alert. The burn reduces the circulating supply of the Circle-issued stablecoin, a routine mechanism used to retire tokens after redemption. At about $104 million, the move is large enough to draw attention to stablecoin supply flows but is not unusual in scale for treasury operations. Traders typically watch subsequent mints and burns as a gauge of net stablecoin demand and liquidity entering or leaving crypto markets.