Circle's ARC Token Sale Boosts Earnings as Lower Yields Reduce USDC Income
(4 hours ago) · 1 source · Summarized by CryptoBipto
Circle reported that revenue from its ARC token sale helped offset declining income from USDC reserves, which have been affected by lower interest rates. The company's earnings were supported by diversifying beyond its core stablecoin business. Lower yields on the assets backing USDC have reduced the interest income that has historically been Circle's primary revenue source.
WHY IT MATTERS
Circle is the company that issues USDC, one of the most widely used stablecoins — digital tokens designed to maintain a steady value pegged to the U.S. dollar.
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SOURCES
- cointelegraph.com
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