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Stablecoin issuer Circle Internet Group is seeing its stock (NYSE: CRCL) rise yet again. Shares in the company are up more than 7% in early morning as of the time of this writing. At one point, shares were up as much as 10% after markets opened. The reason? Circle just posted its first quarterly earnings as a public company, and investors seem to like what they are seeing. Heres what you need to know. Circle posts its first quarterly results as a public company Today, Circle announced its Q2 2025 financial resultsthe first quarterly results the company has posted as a publicly traded business. The big number most investors seem to care about from Circles Q2 earnings is its revenue. The company said that for the quarter, its total revenue grew to $658 million. Thats a 53% increase year over year. It also said that the circulation of its stablecoin, USDC, grew 90% year over year to reach a total of $61.3 billion at the quarters end. The more the circulation of Circles USDC stablecoin grows, the more Circle stands to make. Thats because Circle makes the majority of its revenues not from cryptocurrencies themselves, but from U.S. Treasuries. Circle, much like a bank, knows that only a fraction of all the USDC in circulation will be redeemed at any one time, so it only needs to keep a portion of reserves in cash to be instantaneously redeemable by USDC holders, Mitrade points out. It invests the rest in short-term U.S. Treasuries. This means that as the circulation of USDC grows, Circle stands to make more income from its investments in short-term U.S. Treasuries, thereby increasing its revenue. Yet despite the 53% revenue growth Circle announced, the company still posted a net loss of $482 million. That net loss was mainly attributed to IPO-related noncash charges, including stock-based compensation payouts. CRCL stock surged after its June IPO Despite charges related to its IPO significantly contributing to the companys Q2 net loss, Circles public offering has been very good to investors. Since Circle went public in June, its stock surged. By the end of June, CRCL stock had risen 750%. Circle, like many crypto companies, has been greatly helped by a more friendly crypto regulatory environment under the Trump Administration. Those policies are why more cryptocurrency companies seem more interested in pursuing IPOs, including trading platform eToro, which did so in May, and cryptocurrency exchange Bullish, which is having its IPO tomorrow. Over the past month, however, CRCL stock has lost about 7.65% of its value. As of the time of this writing, with todays post-earnings boost, CRCL shares are hovering around $168.16. When the company went public in June, its IPO share price was $31 per share.
Category:
E-Commerce
Billionaire SpaceX, Tesla and X owner Elon Musk says he plans to sue Apple for not featuring X and its Grok artificial intelligence chatbot app in its top recommended apps in its App Store. Musk posted the comments on X late Monday, saying, Hey @Apple App Store, why do you refuse to put either X or Grok in your Must Have section when X is the #1 news app in the world and Grok is #5 among all apps? Are you playing politics? What gives? Inquiring minds want to know. Grok is owned by Musk’s artificial intelligence startup xAI. Musk went on to say that Apple is behaving in a manner that makes it impossible for any AI company besides OpenAI to reach #1 in the App Store, which is an unequivocal antitrust violation. xAI will take immediate legal action. He gave no further details. There was no immediate comment from Apple, which has faced various allegations of antitrust violations in recent years. A federal judge recently found that Apple violated a court injunction in an antitrust case filed by Fortnite maker Epic Games. Regulators of the 27-nation European Union fined Apple 500 million euros in April for breaking competition rules by preventing app makers from pointing users to cheaper options outside its App Store. Last year, the EU fined the U.S. tech giant nearly $2 billion for unfairly favoring its own music streaming service by forbidding rivals like Spotify from telling users how they could pay for cheaper subscriptions outside of iPhone apps. As of early Tuesday, the top app in Apple’s App Store was TikTok, followed by Tinder, Duolingo, YouTube and Bumble. Open AI’s ChatGPT was ranked 7th.
Category:
E-Commerce
Metas Threads is on a roll. The social networking app is now home to more than 400 million monthly active users, Meta shared with Fast Company on Tuesday. Thats 50 million more than just a few months ago, and a long way from the 175 million it had around its first birthday last summer. Launched in July 2023 with a record-breaking 100 million signups in its first days, Threads quickly positioned itself as Metas best shot at challenging Elon Musks X. Mark Zuckerberg, Meta’s CEO, made no secret of his ambitions back then, setting a goal of one billion users. Twitter has had the opportunity to do this but hasnt nailed it,” he wrote at the time. “Hopefully we will. Todays numbers suggest that bet is paying off, although that one billion goal is still a bit far away. Neck and neck on mobile A big part of the story now is just how close Threads is getting to X when it comes to daily use on phones. Data from Similarweb shows that Threads had 115.1 million daily active mobile users in Junethats up a whopping 128% from last year. X still has the edge at 132 million, but its sliding, with daily actives down more than 15% year over year. In the U.S., the gaps even smaller: 15.3 million daily mobile users for Threads versus 22.9 million for X, according to Similarweb. X does not regularly share user data and did not respond to a request for more details about its current user base. On the web? Thats where Threads is still lagging. X is pulled in 145.8 million daily visits in June compared to just 6.9 million for Threads. Bluesky, the smaller rival in this race, is even closer to Threads in web traffic than you might expectthough its daily mobile audience is tiny by comparison. Finding its own vibe Threads isnt trying to be a carbon copy of X. Meta says 63% of posts are text-only, and people who use Threads every day follow less than half the same accounts they do on Instagram. That means new communities are springing upfrom Bookthreads for literature fans to basketball and music hubswith a friendlier, less combative tone than you might find on some other platforms. The apps also been adding features fast: trending topics, live sports scores, a developer API for automated posts, and deeper connections to the fediverse so people can interact with Mastodon users and other decentralized networks. Why now? Threads momentum comes at a time when X is dealing with advertiser skepticism and growing competition from smaller players like Bluesky. Social media as a whole is also more fragmented than ever, with different groups heading to Discord, LinkedIn, Reddit, or just group chats. While four hundred million users is still a long way from Zuckerbergs billion-user dream, with mobile usage nearly matching Xs, Threads isnt just chasing anymore. Its catching up.
Category:
E-Commerce
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