Circle’s ARC token sale lifts earnings as lower yields weigh on USDC income
Circle recognized $182 million in revenue from its ARC token presale in the third quarter, helping offset falling income from reserves backing USDC.
Circle’s expansion beyond stablecoins supplied the biggest boost to its third-quarter earnings, as the company recognized $182 million in revenue from its ARC token presale, helping offset falling income from the reserves backing its flagship stablecoin, USDC.The company reported diluted earnings p…