Circle Reports Differ on Reserve Income Decline: 8% vs 5%

American Banker and CoinGeek both cover Circle's Q3 earnings but state different year-over-year declines in reserve income.

American Banker and CoinGeek both cover Circle's Q3 earnings but state different year-over-year declines in reserve income.

What all sources agree on

• Circle reported $865 million in total revenue and reserve income, a 17% increase year-over-year.
• The $182 million ARC token presale boosted the quarter's 'other revenue' figure.
• Circle's reserve return rate fell by 61 basis points to 3.5%.
• Circle cut 5% of its workforce, with a $9.1 million restructuring cost tied to the layoffs.

Where the reports disagree

1Year-over-year percentage decline in reserve income

Reserve income decreased 8% YoY as its return rate fell by 61 basis points to 3.5%.

American Banker 2026-11-05 01:51

USDC on-chain volume jumped 49% to $13.9 trillion, yet reserve income fell 5% as T-bill yields dropped to 3.5%.

CoinGeek 2026-11-05 08:00

What would settle it: Circle's official Q3 earnings release or SEC filing showing the exact reserve income figures for Q3 and the comparable prior-year quarter.

What to make of it

Treat the $865 million total revenue figure, the 17% year-over-year growth, the $182 million ARC presale boost, and the 3.5% reserve return rate as established since both outlets agree. The exact percentage decline in reserve income (8% versus 5%) is unresolved and should not be cited as a settled figure until checked against Circle's own earnings filing.

Treat the $865 million total revenue figure, the 17% year-over-year growth, the $182 million ARC presale boost, and the 3.5% reserve return rate as established since both outlets agree. The exact percentage decline in reserve income (8% versus 5%) is unresolved and should not be cited as a settled figure until checked against Circle's own earnings filing.

Originally reported by AltcoinGordon, written by Olivia Hayes. Republished with permission.

View the original on AltcoinGordon →

The post Circle Reports Differ on Reserve Income Decline: 8% vs 5% appeared first on TheCoinrise.com.