{"id":20210,"date":"2025-04-02T12:32:32","date_gmt":"2025-04-02T12:32:32","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=20210"},"modified":"2025-04-02T12:32:32","modified_gmt":"2025-04-02T12:32:32","slug":"circles-revenue-grows-but-ipo-filing-shows-falling-profitability","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=20210","title":{"rendered":"Circle&#8217;s Revenue Grows, But IPO Filing Shows Falling Profitability"},"content":{"rendered":"<div>\n<p><strong>Circle Internet Financial<\/strong>, the company behind <strong>USD Coin<\/strong> (CRYPTO: <a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/\">USDC<\/a>), is showing a mixed financial picture ahead of its planned public listing, with revenue up by 16%, but profitability down due to higher costs <a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/25\/03\/44567164\/circle-eyes-5-billion-valuation-for-upcoming-initial-public-offering\">and increased redemptions<\/a>.<\/p>\n<p><strong>What Happened: <\/strong>In a <a href=\"https:\/\/x.com\/matthew_sigel\/status\/1907179407657365989\">post<\/a> dissecting the newly filed S-1 prospectus, <strong>Matthew Sigel<\/strong>, Head of Digital Assets Research at <strong>VanEck<\/strong>, highlighted the disconnect between Circle&#8217;s topline momentum and its bottom-line performance.<\/p>\n<p>According to Sigel, the company&#8217;s earnings before interest, taxes, depreciation and amortization (EBITDA) fell by 78%, while net income dropped 66%, despite strong revenue growth. <\/p>\n<p>The reason: rising costs and a more competitive market environment.<\/p>\n<p>Sigel noted that Circle&#8217;s redemptions surged to $165 billion in 2023, up from $98 billion in 2022, suggesting that users are increasingly rotating capital in and out of the stablecoin\u2014likely to optimize yield. <\/p>\n<p>He pointed to a &#8220;deterioration in margins&#8221; driven &#8230;<\/p>\n<p><a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/25\/04\/44605174\/circles-revenue-grows-but-ipo-filing-shows-falling-profitability\" alt=\"Circle's\" revenue grows but ipo filing shows falling profitability>Full story available on Benzinga.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Circle Internet Financial, the company behind USD Coin (CRYPTO: USDC), is showing a mixed financial picture ahead of its planned public listing, with revenue up by 16%, but profitability down due to higher costs and increased redemptions. What Happened: In a post dissecting the newly filed S-1 prospectus, Matthew Sigel, Head of Digital Assets Research [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-20210","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/20210","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20210"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/20210\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}