Circle cuts 5% of workforce as profits rise
Pontos principais
- Circle Internet Group cut approximately 5% of its workforce during the third quarter of 2026.
- Net income rose 5% to $226 million, while revenue and reserve income increased 17% to $865 million.
- The workforce reduction generated $9.1 million in restructuring expenses, mainly covering severance and employee-related costs.
Circle Internet Group (NYSE:CRCL) has cut about 5% of its workforce as third-quarter net income climbed 5% to $226 million.
Revenue and reserve income rose 17% to $865 million, while average USDC circulation increased 8% to $73.3 billion.
The workforce reduction aimed to align Circle's organisational structure with its operating model and strategic priorities.
Circle recorded $9.1 million in restructuring expenses, mainly covering notice periods, severance payments and employee benefits.
Adjusted EBITDA rose 85% to $317 million, partly reflecting ARC presale revenue and lower distribution costs.
USDC onchain transaction volume reached $13.9 trillion, up 49% year-on-year, while circulation averaged $73.3 billion.
Circle also launched Arc's public mainnet in September, attracting more than 100 institutional and ecosystem builders.
Following the announcement, Circle shares were up 1.2% to $76.12.
