Circle Internet Group reported its first quarterly results since its June initial public offering, posting second-quarter revenue of $658 million, a 53% increase from a year earlier and ahead of analyst estimates. The stablecoin issuer recorded a net loss of $482 million, largely due to $591 million in non-cash charges tied to stock-based compensation and revaluation of convertible debt triggered by the IPO. Circulation of its USDC stablecoin reached $61.3 billion at the end of June, up 90% year on year, and climbed to $65.2 billion by August 10. Investors welcomed the performance, sending Circle’s shares up roughly 5–10% in pre-market trading. Shortly after releasing the numbers, the company filed to sell 2 million additional Class A shares, while existing shareholders plan to offer a further 8 million shares, bringing the total proposed offering to 10 million shares. Alongside the earnings, Circle introduced Arc, an open, enterprise-focused Layer-1 blockchain that will use USDC as its native gas token. The EVM-compatible network is designed for stablecoin payments, foreign-exchange and capital-markets applications, promising sub-second settlement and an integrated stablecoin FX engine. A public testnet is scheduled for launch between September and November 2025, expanding Circle’s push to provide end-to-end infrastructure for regulated digital finance.