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Circle Layoffs Hit 5% of Staff in a Profitable Quarter: Why Now?

Circle Layoffs Hit 5% of Staff in a Profitable Quarter: Why Now?
AI summary

Circle cut 5% of its staff in Q3 even as the quarter was profitable, according to BeInCrypto. Reserve income declined and USDC growth stalled, which the report frames as the reason for the timing. Traders watching stablecoin supply will read the USDC stagnation and cost cuts as a sign of softer demand for the issuer's core product.

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