Overview
- Circle reported Wednesday that third-quarter revenue and reserve income totaled $865 million, adjusted EBITDA was $317 million, and net income reached $226 million.
- The company recognized $182 million from a private presale of ARC tokens, which accounted for a material share of this quarter’s revenue boost.
- Arc’s public mainnet, launched in September, went live with more than 100 institutional partners and a genesis mint of 10 billion ARC tokens, and the network uses USDC to pay transaction fees.
- Core reserve income fell about 8% to $658 million as the average return on reserve assets dropped to roughly 3.5%, and Circle recorded roughly $9.1 million in restructuring charges after cutting about 5% of its staff.
- Circle confirmed a $100 million equity investment from Binance and reaffirmed a planned $400 million purchase of Tazapay that is expected to close in 2027 pending regulatory approvals, making regulatory and reserve trends the key tests for sustainable profit.