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Circle's Q2 revenue reached $658 million, a rise of 53% year-on-year, exceeding market expectations.
Odaily News Circle's Q2 revenue reached 658 million USD, a year-on-year rise of 53%, above the expected 647 million USD. Among this, reserve income (Reserve) was 634 million USD, with a year-on-year rise of 50%, slightly above the expected 627 million USD. Other income (Other) was 23.8 million USD, showing a year-on-year increase of 252%, exceeding the expected 20.3 million USD. Adjusted EBITDA was 126 million USD, a year-on-year rise of 52%. The scale of USDC reached 61.3 billion USD in Q2, representing a year-on-year rise of 90%, accounting for 28% of the overall stablecoin market, and reached 65.2 billion as of August 10. The reserve return rate (Reserve Return Rate) was 4.1%, a year-on-year drop of 103.