Circle Q3 Revenue Rises 17% to $865M as USDC Reserve Income Falls 8%

Circle Internet Group reported $865 million in total revenue and reserve income for the third quarter of 2026, up 17% year over year, with net income from continuing operations of $226 million, according to its quarterly filing with the U.S. Securities and Exchange Commission . One line down sits the number that carries the business: reserve income, the money Circle earns on the $73.3 billion of USDC it parks in Treasuries and money-market assets, fell 8% to $658 million. The spread between those two figures is the story.