Circle starts winding down CCTP V1 ahead of the December 1 USDC bridge pause
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Circle begins throttling its legacy CCTP V1 on October 31, lowering burn limits until V1 contracts stop on December 1, 2026. Apps still on V1 have about a month to move to CCTP V2 or their cross-chain transfers will end. This is an operational migration with notable impact for USDC bridging.