Circle Q4 2025 Revenue Jumps 77% as USDC Supply Hits $75.3 Billion

Circle said revenue and reserve income rose 77% to $770 million in Q4 2025 for the quarter ended December 31, 2025, as USDC outstanding finished the year at $75.3 billion, up 72% year over year. In the quarter, on‑chain settlement reached $11.9 trillion, a 247% increase. For full‑year 2025, revenue totaled $2.7 billion, while a $70 million net loss reflected $424 million of IPO‑linked stock compensation.