by: xpoolPosted on:

Circle Reports IPO-Linked Loss, Sees USDC Market Share Surge

Circle Internet Group, the issuer of USD Coin (USDC), released its first public earnings report since going public in June. The company reported $658 million in Q2 revenue, but posted a significant net loss of $482 million due to IPO-related expenses. Despite this, USDC adoption surged, reaching a market share of 28% as adjusted EBITDA reached $126 million. A secondary stock offering further impacted the company’s financial performance and stock price.

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