BlockBeats News, August 12, Circle released its Q2 2025 financial report. By the end of Q2 2025, the circulating USDC increased by 90% year-on-year, reaching 61.3 billion coins, and as of August 10, 2025, it further grew by 6.4%, reaching 65.2 billion coins. Total revenue and reserve earnings increased by 53% year-on-year, amounting to $658 million.
The net loss was $482 million, primarily impacted by significant non-cash expenses related to the initial public offering (IPO), totaling $591 million, which specifically includes:
· $424 million in stock-based compensation recognized due to the IPO meeting vesting conditions;
· $167 million increase in the fair value of convertible bonds due to the rise in stock price.
Adjusted EBITDA grew by 52% year-on-year, reaching $126 million.
