Core Viewpoint - Circle, the issuer of the USDC stablecoin, reported a significant increase in revenue driven by the growth in USDC circulation, despite a net loss attributed to non-cash expenses related to its IPO [1][2]. Group 1: Financial Performance - Circle's total revenue and reserve income grew by 53% year-over-year to $658 million, exceeding analyst expectations of $647.3 million [1]. - The company reported a net loss of $482 million in Q2, primarily due to non-cash expenses including employee stock awards and convertible bond valuation increases [1]. - Interest income from short-term government bonds backing USDC constitutes the majority of Circle's revenue, with reserve-related income projected to grow from $735.9 million in 2022 to $1.7 billion in 2024 [1]. Group 2: Market Position and Growth - As of June 30, USDC's circulation increased by 90% year-over-year to $61.3 billion, capturing a 28% market share in the fiat-backed stablecoin sector [2]. - USDC's market capitalization surpassed $65 billion as of August 13, ranking second globally among stablecoins, following Tether's USDT [2]. - The passage of the "GENIUS Act" by President Trump is expected to enhance Circle's competitive advantage in the regulatory landscape [2]. Group 3: Analyst Insights - Analyst Jeff Cantwell highlighted Circle's leadership in the stablecoin market, predicting further stock price increases and maintaining a "buy" rating with a target price of $280 [3].
“稳定币第一股”Circle首份财报:收入同比大增53%,股价涨超96%
Guo Ji Jin Rong Bao·2025-08-13 03:51