Circle Internet Group Reports Robust Q2: USDC Circulation Soars 90% & Revenue Exceeds Expectations

Circle Internet Group (NYSE: CRCL) released its Q2 fiscal year 2025 financial results, revealing strong growth in key areas despite a net loss. Notably, USDC circulation surged 90% year-over-year to reach $61.3 billion by the end of the quarter and continued to climb into August, reaching $65.2 billion. This growth fueled substantial revenue increases, with total revenue and reserve income jumping 53% year-over-year to a hefty $658 million, exceeding market expectations of $645.35 million. While impressive, the company reported a net loss of $482 million primarily due to non-cash charges related to its IPO, totaling $591 million.