Circle has $1B+ in cash and had $779M in revenue in H1 2023, compared to $772M for all of 2022; USDC in circulation has fallen to ~$26B from ~$45B in January
Yueqi Yang / Bloomberg :
Bloomberg Yueqi Yang
Related Coverage
- Circle Bolsters $1 Billion Reserve Amidst Rising Competition from PayPal and Traditional Finance Cryptopolitan · Haseeb Shaheen
- Circle Relies on $1B Cash Reserve to Fight Competition Coinspeaker · Benjamin Godfrey
- Circle Strategic Defense: $1 Billion War Chest Shields Against Shrinking Market Share NewsBTC · Ronaldo Marquez
- Circle says competition from PayPal and others is ‘great to have’, reports $1B in cash CryptoSlate · Mike Dalton
- Crypto Company Circle Prepares for New Products and Global Expansion PYMNTS.com
- Circle (USDC) Leverages $1 Billion Reserves Amid Shrinking Market Share Watcher Guru · Vignesh Karunanidhi
- USDC issuer creates $1 billion cash buffer days after PayPal's entry crypto.news · Julius Mutunkei
- Circle preps $1B war chest to deal with market threats from PayPal and others Cointelegraph · Tristan Greene
- Circle banks on $1 billion cash cushion to weather stablecoin race: Bloomberg The Block · MK Manoylov
Discussion
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@stevenkelly49
Steven Kelly
on x
Deposit beta of 0 and benefiting from the rescue of uninsured deposits... A great business to be in.
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@yueqi_yang
Yueqi Yang
on x
Circle's revenue also surged, helped by rising interest rates, despite a decline in market share against Tether. It had $779 million in revenue in 1H23, already surpassing the $772 million for all of 2022. https://www.bloomberg.com/... 2/ @crypto
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@yueqi_yang
Yueqi Yang
on x
Exclusive: Circle has over $1 billion in cash on balance sheet as of end of June. “That's significantly more than we had expected, and allows us to have a lot of staying power as a company to invest,” CEO @jerallaire told us. 1/ https://www.bloomberg.com/... @crypto
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@jerallaire
Jeremy Allaire
on x
BREAKING coverage from @Bloomberg on @circle. “Circle had $779 million in revenue in the first half of the year, already surpassing the $772 million for all of 2022. The private firm generated $219 million in adjusted earnings before interest, taxes, depreciation, and...
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@ldrogen
Leigh Drogen
on x
Taking people's money, earning 5% interest on it, and giving them none of that yield is an incredible business if you can get away with it Truly hats off to the stablecoin companies right now, this won't last
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@ddisparte
Dante Disparte
on x
@jerallaire offered @business reporter @Yueqi_Yang an exclusive interview detailing how @circle is navigating the market environment. A strong balance sheet and improving U.S. regulatory clarity enables us to continue focusing on #USDC adoption. https://www.bloomberg.com/...
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@yueqi_yang
Yueqi Yang
on x
Circle CEO expects more competition from non-crypto firms entering the stablecoin field, such as PayPal. Meanwhile, existing stablecoins that can't meet regulatory standards will be crowded out in next two years, @jerallaire says. 4/ https://www.bloomberg.com/... @crypto
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@wublockchain
Wu Blockchain
on x
Circle had $779m in revenue in the first half of the year, already surpassing the $772m for all of 2022. It generated $219m of profit in the first half. The company has over $1 billion in cash on its balance sheet as of June. BBG https://www.bloomberg.com/...
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@wublockchain
Wu Blockchain
on x
However, compared with Tether, the profit is still low. Tether said that it generated a profit of 1.48 billion US dollars in the first quarter; the profit in the second quarter exceeded 1 billion US dollars.