Breaking: USDC Issuer Circle Reveals $865M Q3 Revenue, But Lays Off 5% Staff

Circle Internet Group LLC (NYSE:CRCL), the company that issues the USDC stablecoin, released 17% year-over-year revenue and reserve income of $865 million during the third quarter. But the company also announced a workforce restructuring that would impact some of its workers by 5%. The cuts have been restated as restructuring charges in its earnings release on Wednesday. Circle Records Strong Revenue & Increased USDC Activity However, the $865 million figure is revenue and reserve income, not net profit. Reported net income from continuing operations was $226 million, an increase of 5% from the prior year.