Circle reported retaining 41.2% of its Q2 revenue and reserve income after distribution and transaction costs, amounting to $288.8 million before operating expenses. Despite distribution costs consuming nearly 59% of total revenue, retained revenue grew 15% year-over-year, showing improved margins. The company’s Q3 earnings are scheduled for November 4, with management expected to discuss impacts of USDC circulation, partner payments, and reserve income sensitivity to interest rates. Circle’s financials highlight the complex balance between stablecoin circulation growth, reserve returns, and distribution expenses.
The story on USDC income retention is provided with Pluang's cryptocurrency market data for context. For readers following major cryptocurrencies, of 50 priced assets on Pluang, 5 rose and 44 fell today. Notable movers include GRT at Rp356 with a -3.97% change, THETA at Rp2.790 with -3.89%, and CRV at Rp4.973 with -3.88%. This data is as of Nov 02, 2026 18:41 WIB.
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