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Circle Releases Q2 2025 Financial Report: Net Loss of $482 Million, USDC Circulating Supply Reaches 65.2 Billion as of August 10

By: theblockbeats.news|2025/08/12 11:22:00

BlockBeats News, August 12, Circle released its Q2 2025 financial report. As of the end of the first quarter of 2025, the circulating supply of USDC increased by 90% year-on-year, reaching 613 billion tokens. As of August 10, 2025, it further increased by 6.4% to reach 652 billion tokens. Total revenue and reserve income increased by 53% year-on-year, reaching $658 million.

Net loss was $482 million, mainly due to significant non-cash expenses related to the initial public offering (IPO), totaling $591 million, including:

· $424 million of stock-based compensation recognized due to the IPO meeting attribution conditions;

· $167 million increase in the fair value of convertible bonds due to stock price appreciation.

Adjusted EBITDA increased by 52% year-on-year to reach $126 million.

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