Circle USDC circulation increased by 90% year-on-year in the second quarter, with a net loss of $482 million

According to reports from BusinessWire, Circle (NYSE: CRCL) has released its financial report for the second quarter of 2025, showing that USDC circulation increased by 90% year-on-year, reaching $61.3 billion. Total revenue and reserve income grew by 53% year-on-year, reaching $658 million. Due to non-cash expenses related to the IPO, the net loss was $482 million. Circle completed a $1.2 billion IPO, launched the Circle Payments Network, announced cooperation plans with companies such as Binance and OKX, and plans to launch a Layer-1 blockchain Arc specifically designed for stablecoin finance.