#circleq3revenue865m
💰 Circle’s Q3 2026 revenue and reserve income reached $865 million, up 17% from the same quarter last year. Circle is the company behind the USDC stablecoin
📊 What’s behind the headline?
🏦 Reserve income: $658 million, down 8% year over year. This is income earned on assets backing USDC; lower reserve returns weighed on it.🪙 Other revenue: $207 million, including $182 million from a presale of tokens for Circle’s Arc blockchain.📈 Net income: $226 million, up 5%.⚙️ Adjusted EBITDA: $317 million, up 85%; the ARC token presale and lower distribution costs helped lift it. 🔍 The key takeaway: The 17% growth sounds strong, but much of the quarter’s boost in “other revenue” came from the ARC presale—a specific, potentially non-recurring item. Meanwhile, income from USDC reserves declined. So the headline growth doesn’t necessarily mean Circle’s core reserve-income business accelerated 🌐 Average USDC in circulation rose 8% to $73.3 billion, and USDC on-chain transaction volume grew 49% to $13.9 trillion. Those figures point to increased activity, though they don’t by themselves show how profitable that activity is.
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💰 Circle’s Q3 2026 revenue and reserve income reached $865 million, up 17% from the same quarter last year. Circle is the company behind the USDC stablecoin
📊 What’s behind the headline?
🏦 Reserve income: $658 million, down 8% year over year. This is income earned on assets backing USDC; lower reserve returns weighed on it.🪙 Other revenue: $207 million, including $182 million from a presale of tokens for Circle’s Arc blockchain.📈 Net income: $226 million, up 5%.⚙️ Adjusted EBITDA: $317 million, up 85%; the ARC token presale and lower distribution costs helped lift it. 🔍 The key takeaway: The 17% growth sounds strong, but much of the quarter’s boost in “other revenue” came from the ARC presale—a specific, potentially non-recurring item. Meanwhile, income from USDC reserves declined. So the headline growth doesn’t necessarily mean Circle’s core reserve-income business accelerated 🌐 Average USDC in circulation rose 8% to $73.3 billion, and USDC on-chain transaction volume grew 49% to $13.9 trillion. Those figures point to increased activity, though they don’t by themselves show how profitable that activity is.
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