Circle just dropped its first earnings report as a public company โ and itโs a mixed bag ๐. Revenue? Up 53% to $658M, driven by a massive 90% surge in $USDC supply to $61.3B. Losses? $482M, mostly from IPO-related stock payouts and debt adjustments (a.k.a. paper losses ๐ธ).
Hereโs the kicker โ without those one-time hits, Circle wouldโve been profitable โ . Plus, the US just passed the GENIUS Act, giving clear legal rules for stablecoins ๐๏ธ. That means banks & fintechs can integrate USDC with confidence.
Circle also unveiled Arc, its own lightning-fast Layer-1 blockchain built for stablecoin payments, FX, and capital markets โก. With USDC adoption exploding beyond crypto trading into global payments, the company is positioning itself as the stablecoin leader.
Some see this as the fuel for the next altcoin bull run ๐ฅ.
๐ฌ Bullish on $USDC โs growth? Or still team $USDT ? Drop your take below! ๐