Circle says partners took 59 cents of each revenue dollar

What happened

Circle's commercial chief outlined how income was divided in the first six months of 2026. The firm brought in close to $1.4 billion. It directed about $819 million to firms that extend reach and to expenses tied to movement. That equals close to 59 cents from each dollar collected. The update came in an Oct. 16 post.

The note did not separate ally payouts from transfer expenses. It said around $473 million, or near 34 cents per dollar, returned to run the firm. That covered permits, bank ties, cash for settlement, rule checks, fresh tools and chain links. It added that 7 cents per dollar stayed as net gain.

Why it matters

The message answered critics who say creators keep too large a slice and bill too much for cash-outs. Circle said it passes the bulk of USDC gains to those that spur use. It argued that offers giving away nearly all creator takings leave no funds for core work. It said permits, banking and ready cash let the coin act as a web dollar, not just a token.

What the data shows

Coinbase held a record $20 billion on average in its goods, up 44% from a year before. Binance signed a five-year trade pact and took $100 million in equity. Over 150 more allies hold a stake in growth. USDC moved over $36 trillion on chain and created and withdrew over $315 billion. It claimed about 77% of world stablecoin flow in June, against 60% a year prior.

Background

Reserves sit in cash and very liquid paper, which earn interest. That link means rate shifts can squeeze takings even when use stays firm. For cash-outs, all users can use no-fee bank paths that clear within two business days. The firm holds low-yield bank cash to fund speed.

What is still unclear

• It remains unknown how the $819 million divides between ally payouts and move costs.

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