Circle recorded $182 million in revenue from the ARC token presale, offsetting lower income generated by USDC reserves. Without the transaction, total revenue and reserve income would have fallen by roughly 8% year over year to $683 million. Average USDC circulation grew 8%, but the reserve return dropped 61 basis points to 3.5%, reducing reserve income by 8% to $657.6 million. Circle is now seeking to diversify through payments, the Arc blockchain and future staking rewards, targeting a full proof-of-stake transition in 2027. The company also reduced its workforce by approximately 5% to align its organization with its strategic priorities.
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