$USDC

Circle's financial data presents a dual aspect of growth and pressure. In 2024, total revenue and reserve revenue reached 1.676 billion USD, a year-on-year increase of 16%, steadily rising from 1.450 billion USD in 2023. However, net income fell from 268 million USD to 156 million USD, a decrease of 42%. Revenues have increased, but profits have declined; what is behind this?