Circle Q3 Revenue Rises 17% to $865M on ARC Token Sale as Reserve Income Falls

Circle reported Q3 revenue up 17% to $865 million, helped by its ARC token sale, even as reserve income declined. The $222 million ARC presale gives buyers repayment rights if Arc has not moved to proof-of-stake by May 2028, per a May filing. Traders will watch whether Circle's revenue mix shifts away from reserve income and how the ARC repayment clause affects confidence in the token.