Circle’s Q2 report reveals a 90% increase in USDC circulation, a significant 11.4% pre-market stock surge, and the announcement of Arc, its new EVM-compatible layer-one blockchain set for testnet launch this fall.
Circle’s Q2 2025 earnings report shows total revenue and reserve income grew by 53% to $658 million, driven by a 90% rise in USDC circulation, now totaling over $65.6 billion globally. Despite these gains, the company recorded a net loss of $482 million, largely due to $424 million in stock-based IPO compensation and $167 million from convertible debt adjustments. The stock spiked over 11.4% in pre-market trading, surpassing $179 early Tuesday, following its successful IPO in early June. Additionally, Circle unveiled plans to launch Arc, an EVM-compatible layer-one blockchain that will use USDC as its native gas token, amid a favorable regulatory environment under the GENIUS Act signed by President Trump. Some analysts, however, remain cautious, with sell recommendations targeting a price of $130.