PredictStreet removed website references to the Trump-linked USD1 stablecoin and switched to USDC on its site after blockchain analysis showed trades were conducted in USDC, not USD1.
Circle delivered a strong Q3 beat with EPS of $0.84 and revenue of $864.9 million, up 17% year over year, signaling improving USDC traction. The company highlighted partnerships and ecosystem growth, including SAP integration via Tereina, Visa prefunding deployment, and a renewed Binance relationship, plus Arc mainnet launch with over 100 builders. A ~5% workforce reduction accompanied the results, and analysts trimmed price targets despite the solid quarter.
Circle reported a Q3 EPS of 84 cents and revenue of $864.9M, aided by a $182M Arc presale. USDC circulation rose and on-chain activity surged, signaling ongoing institutional adoption, while a $9.1M restructuring charge and a 5% staff reduction raise near-term profitability concerns. The market reaction was a modest stock pullback despite solid results, highlighting questions around revenue sustainability tied to presales.
Circle and Tether disclosed freezing about $1.8 billion tied to a potential Binance security issue. Binance said it is investigating a potential security issue with user funds reportedly safe. Circle reported over $800 million in USD Coin frozen and Tether over $1.5 billion in USDT may be affected. Bitcoin slid more than 3%, and CRCL traded down in after-hours trading.
Investors should monitor CRCL as litigation highlights heightened scrutiny of crypto holdings tied to foreign actors. The federal suit accuses Trump and World Liberty of profiting from foreign emoluments via USD1 and related deals, potentially increasing regulatory and political risk for the crypto sector. The outcome could influence sector sentiment and CRCL's trading dynamics in the near term.
Circle's CEO disclosed plans to push its USDC stablecoin into 40 new markets, signaling a broad geographic expansion that could boost transaction volumes and merchant acceptance. The move may accelerate USDC adoption and Circle's revenue opportunities, though success depends on obtaining regulatory clearances and executing market-by-market strategies efficiently.