Core Insights - Circle Internet Group Inc has launched a new blockchain called Arc, aimed at stablecoin finance, and introduced instant cross-chain liquidity through Circle Gateway, despite a decline in share prices following these announcements [1][4] Financial Performance - Circle reported net revenue of $251 million and adjusted EBITDA of $126 million, exceeding consensus estimates by 4% and 6% respectively [2][3] - The company is experiencing strong growth in higher margin areas, particularly with USDC on its platform [4] Growth Projections - Management has reiterated a multi-year compounded annual growth rate (CAGR) of 40% for USDC circulation [3] - Arc is expected to be launched in the latter half of 2025, which is seen as a significant development for the company [4] Market Reaction - Despite the positive financial results and product announcements, shares of Circle declined by 3.62% to $136.45 [4] - Analysts from Goldman Sachs and JPMorgan have provided mixed ratings, with Goldman maintaining a Neutral rating and JPMorgan an Underweight rating, while adjusting price targets [6]
Circle Launches New Blockchain For Stablecoins: Goldman Sachs, JPMorgan Analysts Adjust Price Targets