Circle’s third-quarter revenue and reserve income increased by 17% to $865 million. The total included $182 million from the presale of ARC, the native token of Circle’s Arc blockchain, which lifted other revenue from $29 million to $207 million. Reserve income fell 8% to $658 million as the reserve return rate declined by 61 basis points to 3.5%, partly offset by an 8% increase in USDC in circulation to $73.3 billion. Net income from continuing operations rose 5% to $226 million, while adjusted EBITDA climbed 85% to $317 million. Circle also reduced its workforce by about 5%, incurring $9.1 million in restructuring charges during the quarter.
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