Update
CirBTC Borrowing on Morpho Hits $190 Million
Institutions have heavily borrowed against their Bitcoin (cirBTC) in the Morpho market, with nearly 97.4% of the USDC supplied to the main cirBTC/USDC market now borrowed. This surge highlights the growing institutional demand for DeFi solutions, potentially straining USDC liquidity and stability. Circle Mint, which launched cirBTC on September 21, reports that the main market held $195 million in supplied USDC, with $190 million borrowed as of October 13, 2026.