Circle Q3 Revenue Rises 17% to $865M Driven by ARC Token Sale as Reserve Income Falls
Key Highlights: Stablecoin issuer Circle generated roughly $222 million through an agreement to sell 740 million $ARC tokens to investors led by a16z crypto. Circle revealed a 5% workforce reduction that incurred $9.1 million in third-quarter restructuring costs, primarily for severance and notice-period expenses. Full-year adjusted operating expense forecasts remain set between $570 million and ...