Circle Cuts About 5% of Its Workforce in Quarter Lifted by ARC Token Presale
The USDC issuer disclosed the reduction in a footnote to third-quarter results that showed revenue up 17% to $865 million on its ARC token presale, without saying how many people lost their jobs.
UnchainedUnchained · November 4, 2026 · 4h agoBrief · 1 min read
Circle Internet Group, which issues USDC, recorded restructuring costs of $9.1 million during its third quarter, linked to a workforce cut of about 5%, a footnote to its Nov. 4 results showed. The release did not say how many people lost jobs, when the cut occurred or which teams were affected. Based on about 1,100 staff at the end of 2025, Unchained estimated the cut at roughly 55 people. The company said the cut aimed to align its structure with its operating model and strategic priorities, and the charges were mainly cash severance and notice pay. Operating outlays grew 16% to $245 million, while compensation fell 4%. Revenue and reserve income grew 17% to $865 million, including $182 million from the ARC token presale.
Why it matters: The move shows how a major stablecoin issuer is adjusting its cost base even as its revenue grew, with token sales adding to the top line.
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