Stablecoin issuer Circle is reducing its total headcount by 5 percent while reporting an increase in USDC circulation.
Photo: Crypto Briefing
Circle has announced a reduction of its workforce by 5 percent. This decision comes as the company continues to navigate its strategic focus on blockchain infrastructure development.
Despite the staff cuts, the circulation of the company's stablecoin, USDC, has shown growth. The firm aims to leverage its infrastructure shift to further enhance demand for its digital asset.
Circle reported $865 million in Q3 2026 revenue and launched its Arc blockchain ecosystem, supported by over 100 institutional partners.
Wirex is hosting the Full Stack London conference on November 12 to discuss the infrastructure and business models behind stablecoins amid rising market competition.
Ripple's $2.6 billion stablecoin RLUSD is primarily circulating on Ethereum despite the company's stated goal of prioritizing the XRP Ledger for its use cases.
Cipher Digital has generated its first $5,85 million in high-performance computing lease revenue as it pivots away from Bitcoin mining.
