shares Apartment (NYSE:CRCL) is up today after an earnings report that pleased investors.
Circle reported revenue and reserve income of $694 million in the first quarter of 2026, up 20% year over year.
Net income from operations during the quarter decreased 15% to $55 million, but adjusted EBITDA was reported as $151 million, up 24%.
USDC, or Circle’s dollar-denominated stablecoin, rose 28% to $77 billion in circulation at the end of the quarter.
Operating Expenses were $242 million, up 76% from last year, primarily due to higher compensation costs resulting from post-IPO stock-based compensation and related payroll taxes.
Jeremy AllaireCircle Co-Founder and CEO said the first quarter reflected a strong execution against a much larger opportunity: the convergence of AI platforms and economic operating systems.
“With the ARC token presale, the momentum behind the Arc network, and the launch of our Agent Stack, we are building a trusted infrastructure for AI-driven economic activities and a more programmable internet financial system.”
The ARC token is a new digital asset issued by Circle and connected to Arc Network’s layer-one blockchain. Arc focuses on stablecoin financing, tokenization of RWAs, and other enterprise-level applications. As digital finance heats up, competition is increasing over who operates the most robust and efficient blockchain network.
As part of its earnings release, Circle reported that it had raised $222 million for its new enterprise blockchain at a $3 billion valuation. Arc’s 10 billion tokens also include a 25% stake in Circle.
Circle’s shares are currently up over 11% in early trading.
