Circle's financial report: Total revenue and reserve income increased by 64% to $2.7 billion.

Circle, a US-listed company, released its fiscal year 2025 earnings report, disclosing that the circulating supply of USDC reached $75.3 billion by the end of 2025, a 72% increase; USDC on-chain transaction volume in the fourth quarter of 2025 reached $11.9 trillion, a 247% increase; and total revenue and reserve income for fiscal year 2025 reached $2.7 billion, a 64% increase. Circle also stated that its net loss from continuing operations reached $70 million, primarily due to $424 million in equity incentive expenses related to its initial public offering (IPO), compared to a net profit of $157 million from continuing operations in fiscal year 2024. Furthermore, Circle announced that 55 financial institutions have registered for its Circle Payments Network (CPN), with another 74 financial institutions undergoing qualification review; the Arc public testnet has been launched, attracting over 100 participants. (Businesswire)