Circle's Revenue Drops Despite Strong Earnings

Circles stock plummeted despite robust earnings, as investors fretted over falling interest rates that could affect their primary income source. The company, a key player in the stablecoin market, reported a 66% revenue surge and outperformed earnings expectations. However, their reserve return rate dropped to 4%, raising concerns. Circles CFO, Jeremy Fox-Geen, downplayed the impact of falling rates, citing potential benefits for their business. The companys stablecoin market share and USDC circulation grew, and theyre expanding revenue streams with new offerings.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.