Circle Q1 Earnings: $21.5 Trillion USDC Volume Fails to Stop 15% Profit Drop as Investors Panic
BeInCrypto
Circle reported a record $21.5 trillion in USDC transaction volume, though profits fell 15% due to increased stock-based compensation and infrastructure investments.Summary
Circle Internet Group experienced a 263% surge in USDC on-chain transaction volume to $21.5 trillion in Q1 2026, solidifying its role in programmable finance. Despite this growth and a 20% increase in revenue to $694 million, net income fell 15% to $55 million. The company attributed this profit decline primarily to elevated stock-based compensation following its IPO and strategic investments into its new Arc network and Agent Stack. While market share remains competitive against Tether, Circle continues to prioritize long-term growth through its Layer-1 pivot.
(Source：BeInCrypto)