Circle Reduces Staff as ARC Presale Lifts Quarterly Revenue

Circle, the issuer of USDC, reduced its workforce by approximately 5%, according to Unchained and Decrypt. The company disclosed the cuts in material accompanying its third-quarter results but did not state how many employees were affected, leaving the absolute scale of the reduction unspecified.

Circle’s revenue for the quarter increased 17% to $865 million, with Unchained linking the stronger result to the ARC token presale. Decrypt reported that Circle also recorded $9.1 million in restructuring costs as reserve income fell 8%, adding financial context to the workforce action that was not included in Unchained’s summary.

The two outlets corroborated the roughly 5% reduction but emphasized different aspects of the disclosure. Unchained focused on the absence of a job-count figure and the contrast with revenue growth, whereas Decrypt highlighted the restructuring expense and the decline in reserve income. No additional numerical conflict between their reports was identified.

Circle’s results therefore combine a reported expansion in revenue with a reduction in staffing. The ARC token presale contributed to the quarterly revenue increase described by Unchained, while the $9.1 million restructuring charge reported by Decrypt provides a measure of the costs associated with the organizational change. The release did not provide the number of positions eliminated.

Live data show USDC trading at $0.999478, unchanged over 24 hours and up 0.01% over seven days. DeFiLlama reports a USDC circulating supply of $70.83 billion, while the quoted USDC market capitalization is $70.55 billion. The broader crypto market cap stands at $2.69 trillion and is broadly higher; Bitcoin is up 1.48% over 24 hours, while the Fear & Greed index is at 34, indicating a Fear reading. Further disclosures on employee numbers, restructuring costs, reserve income and the ARC presale’s contribution are the relevant items to monitor.