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 <h2 id="strong-the-circle-revenue-boost-strong"><strong>The Circle Revenue Boost</strong></h2> 
 <p><span style="font-weight: 400">Per a </span><span style="font-weight: 400">report</span><span style="font-weight: 400"> from Bloomberg as propagated by Circle CEO, Jeremy Allaire, the company raked in a total of $779 million in the first half of this year. These massive revenue figures account for more than the $772 million the company recorded for the entirety of the 2022 financial year.</span></p>  
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 <p><span style="font-weight: 400">For the current year, Allaire confirmed that Circle also reaped the sum of $219 million in adjusted earnings before interest, taxes, depreciation, and amortization in the first half. Bogus as these figures may sound, it notably outpaced the $150 million it recorded as profit for all of last year.&nbsp;</span></p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">BREAKING coverage from @Bloomberg on @circle. </p> 
  <p>"Circle had $779 million in revenue in the first half of the year, already surpassing the $772 million for all of 2022. The private firm generated $219 million in adjusted earnings before interest, taxes, depreciation, and…</p>  
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  <p>— Jeremy Allaire (@jerallaire) August 10, 2023</p> 
 </blockquote> 
 <p></p> 
 <p><span style="font-weight: 400">One major highlight of the report is its available cash flow and adherence to transparency at a time when the </span><span style="font-weight: 400">competition facing <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a>s</span><span style="font-weight: 400"> remains on a major rise across the board. Per its performance, Circle was revealed to maintain more than $1 billion in cash on its balance sheet as of June this year.</span></p>  
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 <p><span style="font-weight: 400">The solid balance sheet includes a robust reserve update for its <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a>, the <a rel="noopener noreferrer nofollow" title="USDC" href="https://thebittimes.com/tag/usdc.html">USDC</a>. While <a rel="noopener noreferrer nofollow" title="USDC" href="https://thebittimes.com/tag/usdc.html">USDC</a> has lost a portion of its valuation over the past year, its market capitalization is currently pegged at $26.18 billion, a sum that has helped it retain its place amongst the top 6 digital currencies.</span></p> 
 <p><span style="font-weight: 400">The past year and especially the time falling between January and to date has been filled with a lot of regulatory scrutiny especially as it concerns <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a>s. While Circle has not been directly hit, investors are largely exercising more caution with alternative <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a>, thus reducing liquidity from Circle to an extent.</span></p> 
 <h2 id="strong-circle-and-the-growing-competition-strong"><strong>Circle and the Growing Competition</strong></h2> 
 <p><span style="font-weight: 400">While Circle is already profitable, the growth pace might slow down in the remaining part of the second half of the year owing to the emergence of new players like PayPal which </span><span style="font-weight: 400">launched</span><span style="font-weight: 400"> its <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a>, PYUSD recently.</span></p> 
 <p><span style="font-weight: 400">Per the report, the cash at hand Circle boasted, which is pegged at $1 billion, is designated to help the firm fight the competition across the board.</span></p> 
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USDC Issuer Circle Rakes in Explosive H1 Revenue: Bloomberg

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