Circle just dropped Q3 earnings and they're printing 💰
Revenue hit $865M (+17% YoY) with net income at $226M. But here's the real alpha: adjusted EBITDA jumped 85% to $317M, largely thanks to a $182M ARC token presale.
$USDC circulation averaged $73.3B (+8%) while onchain volume exploded 49% to $13.9T. Reserve income dipped 8% to $658M due to lower yields, but the ARC presale more than made up for it.
Notable moves:
• Arc mainnet went live
• Acquiring Tazapay for cross-border payments
• Binance dropped $100M equity investment + expanded $USDC partnership
• 5% workforce cut (9.1M restructuring costs) to align with strategy
Circle maintaining full-year guidance. Shares pumping in premarket.
TLDR: $USDC dominance continues, ARC token presale carrying the quarter, and institutional money (Binance) doubling down on stablecoin infrastructure.
Revenue hit $865M (+17% YoY) with net income at $226M. But here's the real alpha: adjusted EBITDA jumped 85% to $317M, largely thanks to a $182M ARC token presale.
$USDC circulation averaged $73.3B (+8%) while onchain volume exploded 49% to $13.9T. Reserve income dipped 8% to $658M due to lower yields, but the ARC presale more than made up for it.
Notable moves:
• Arc mainnet went live
• Acquiring Tazapay for cross-border payments
• Binance dropped $100M equity investment + expanded $USDC partnership
• 5% workforce cut (9.1M restructuring costs) to align with strategy
Circle maintaining full-year guidance. Shares pumping in premarket.
TLDR: $USDC dominance continues, ARC token presale carrying the quarter, and institutional money (Binance) doubling down on stablecoin infrastructure.