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Circle releases Q2 2025 financial report: net loss of $482 million, as of August 10, the circulating supply of USDC reached 6.52 billion.
On August 12, Circle released its Q2 2025 financial report. As of the end of the first quarter of 2025, the circulating USDC increased by 90% year-on-year, reaching 61.3 billion. By August 10, 2025, it had further increased by 6.4%, reaching 65.2 billion. Total revenue and reserve earnings grew by 53% year-on-year, amounting to 658 million USD. The net loss was 482 million USD, primarily impacted by significant non-cash expenses related to the IPO, totaling 591 million USD, which included: · 424 million USD in stock-based compensation recognized due to IPO vesting conditions; · 167 million USD in the fair value of Convertible Bonds, increased due to a rise in stock prices. Adjusted EBITDA grew by 52% year-on-year, reaching 126 million USD.