🚨JUST OUT: $CRCL’s Q3 revenue rose 17%, adjusted EBITDA surged 85%, and USDC onchain volume jumped 49% to $13.9 TRILLION. But, despite a profitable quarter Circle cuts about 5% of its staff in Q3, costing $9.1 MILLION, mostly in employee payouts. The cuts come as interest income from USDC reserves FALLS. This brings in about three-quarters of Circle’s revenue. Binance also announced a $100 MILLION equity investment and expanded its USDC partnership. Circle didn’t just post good Q3 earnings. But it also landed a number of business deals. Q3 RESULTS: - Revenue and reserve income $864.9M vs $776.7M expected - Adjusted EBITDA $317M vs $202.8M expected. Net income from continuing operations $226M, up 5% - EPS $0.84, up from $0.64. - USDC minted $104B vs $82.45B expected. - Average USDC circulation $73.3B, up 8%. - Reserve return rate 3.5% vs 3.52% expected. - USDC market share 27%, down 1.83 percentage points year over year. BUSINESS DEALS AND EXPANSION: - Tazapay acquisition agreed, bringing $25B+ in annualized payment volume and payout rails across 100+ markets. Closing expected in 2027, pending approvals. - Circle Payments Network reached $41.3B in annualized volume. - Arc mainnet launched with 100+ builders. Circle minted 10B ARC tokens, with Proof of Stake targeted for 2027. - Arc community includes 75,000+ members and 10,000 ambassadors, with 1,200+ projects built. - Chelsea FC partnership puts Circle and USDC on team shirts from the 2026/27 season. -Allaria expands institutional USDC access in Argentina. - Tereina integrates USDC and EURC into SAP ecosystem payments. - Samsung Wallet enables eligible USDC transfers to bank accounts in 60+ countries. - Visa Direct commercialized USDC prefunding for eligible payouts across 180+ countries. - Volante helps financial institutions integrate stablecoin payments and settlement. Full-year guidance remains unchanged, including $570M–$585M in adjusted operating expenses.