Circle Q2: Loss from IPO charges, revenue up 53%. What it means for USDC and Bitcoin

Snapshot Revenue: $658 million, up from $430 million; Street expected $646 million. Net result: loss of $482 million vs. profit of $33 million a year ago. One-time items: $424 million stock-based pay; $167 million convertible revaluation. Distribution and transaction fees to partners: $407 million, up 64%. Shares: up 7% in premarket; more than five times since the June IPO Policy: The Genius Act set a framework for stablecoins. Rates: Traders now lean toward a September cut after the July jobs report. Market size: Tether is near $165 billion in market value, more than twice USDC. The results Circle Internet Group, issuer of USDC, reported Q2 revenue of $658 million. That beat consensus at $646 million and rose 53% year over year. Net loss was $482 million. The loss came from one-offs tied to the June listing: $424 million in stock-based compensation and $167 million from the convertible mark. A year ago, Circle earned $33 million. Shares rose 7% in premarket trading. Context Circle earns interest on Treasury bills and other cash assets that back USDC. A Federal Reserve cut would lower that yield and could trim income. After the July labor data, futures imply growing odds of a September move. In July, the Genius Act became law. The act set rules for dollar-tracking tokens. The change lifted activity across the sector and supported Circle’s post-IPO story. Partners, competition, and costs Circle paid $407 million to partners, including Coinbase and Binance, to drive USDC use. The figure rose 64% from a year earlier as Circle expanded distribution deals. Stablecoin competition is rising as banks and payment firms enter. Tether’s token holds a market value near $165 billion, more than double USDC. Share shifts between USDT and USDC remain a focus for traders. Why this is significant for Bitcoin Liquidity rails: stablecoins fund spot and derivatives flows. More USDC circulation can deepen BTC order books and narrow spreads. Rate path: lower yields can compress issuer income but can lift risk appetite, which can support Bitcoin demand. Policy clarity: the Genius Act can pull new capital into on-chain dollars, which can later flow into Bitcoin. Market share: swaps between USDT and USDC can move BTC basis and funding. What to watch Federal Reserve signals into September and the impact on USDC yield. USDC supply growth and market share versus USDT. Circle guidance on distribution spend and unit economics after the IPO. Exchange and on-ramp integrations that add USDC pairs.

Het bericht Circle Q2: Loss from IPO charges, revenue up 53%. What it means for USDC and Bitcoin is geschreven door Immanuel Rodulfo en verscheen als eerst op Bitcoinmagazine.nl.