Circle Beats Q3 Estimates on Arc Token Sale, Cuts 5% of Staff

Circle's revenue rose 17% to $865M, with $182M from a presale of its ARC token, even as interest income on USDC reserves slipped. Circle reported Q3 revenue of $865M, up 17% from a year ago, and adjusted earnings of 84 cents a share, beating analysts' forecasts of $778M and 37 cents. Net income from continuing operations rose 5% to $226M. The ARC Boost: $182M came from a private presale of ARC, the native token of Circle's Arc blockchain, which launched in September. ARC will be used to secure and govern the network, with staking planned for 2027.