How Circle Makes Money From USDC—and Why Reserve Income Is Not Profit

Crypto Insight Summary: Circle’s second-quarter accounts trace $701.315 million in revenue and reserve income to $48.214 million in net income, after distribution costs, operating expenses and taxes. Crypto Insight Analysis: Direction: Neutral Impact: No Impact Horizon: Short-term (1-3 days) Reasoning: Circle's financials show stable revenue but no direct impact on crypto market.