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Circle shares slide after Q2 results miss revenue expectations
In Q2 2026, Circle beat earnings but fell short on revenue, while stablecoin competition intensified with the launch of Open USD aimed at taking share from USDC.
Circle Internet Group shares fell after the company’s Q2 2026 results showed a beat on earnings but a miss on revenue, prompting investors to question whether the business is delivering as planned, Yahoo Finance reports.
The revenue miss added pressure to the stablecoin investment thesis as the broader crypto market stayed weak and U.S. congressional leaders were unable to pass a key piece of new crypto legislation.
Investors also pointed to competitive risk ahead of the quarter, after a consortium of 140 companies led by tech and crypto heavyweights announced the launch of Open USD, a stablecoin designed to take market share from Circle’s USDC.
Circle’s potential offset, according to the coverage, is still tied to USDC usage and expansion efforts, including growth in USDC on-chain transaction volume and a 19% rise in USDC in circulation year over year, plus momentum around its Arc blockchain network backed by nearly 100 ecosystem partners.