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Circle announced its Q3 financial report: net profit increased by 202% year-on-year to $2.14, and USDC scale doubled.
According to Mars Finance, the Q3 financial report released by stablecoin issuer Circle (NYSE: CRCL) shows that its total revenue and reserve income in the third quarter reached 740 million USD, a year-on-year rise of 66%; the net profit was 214 million USD, a year-on-year rise of 202%, both exceeding institutions' previous expectations of 700 million USD in revenue and 31 million USD in profit. In addition, the circulation of USDC at the end of the quarter reached 73.7 billion USD, a year-on-year rise of 108%. As of the time of writing, CRCL's pre-market price was 93 USD, down about 5%; corresponding to a market capitalization of approximately 22 billion USD.