Circle Internet Group (CRCL) reported strong fourth-quarter results on Wednesday, sending its stock up 13% in premarket trading to $69.36.
Circle Internet Group, CRCL
The company posted earnings of $0.43 per share for Q4, more than double Wall Street’s estimate of $0.16, according to FactSet.
Total revenue and reserve income came in at $770 million, up 77% from the same period last year. That topped analyst consensus estimates of $747.4 million.
USDC circulation grew 72% year-over-year to $75.3 billion in the quarter. That growth drove reserve income to $733 million for the period.
Circle’s business model is straightforward: it issues USDC, invests the backing cash into low-risk assets like U.S. Treasuries, and keeps the yield. Rising circulation means more reserves, which means more income.
Adjusted EBITDA for Q4 reached $167 million, up 412% from a year earlier. That’s a number that’s hard to ignore.
CEO Jeremy Allaire pointed to expanding global adoption as a key driver. “More enterprises, developers, and public institutions integrated digital dollars into real world payments, treasury, and onchain financial workflows,” he said.
The GENIUS Act, signed into law by President Trump last year, created a federal framework for dollar-pegged stablecoins. That has helped legitimize the sector and open doors for broader institutional use.
Global regulators have also moved to establish oversight frameworks, which has generally benefited established issuers like Circle.
During Q4, Circle received preliminary approval to establish a national trust bank charter. That could further embed USDC into traditional banking infrastructure.
Despite Wednesday’s premarket surge, CRCL has had a rough run since its IPO. The stock listed on the NYSE last June and hit an all-time high of $263.45 on June 23, 2025.
Since then, the stock has dropped roughly 77% from that peak. Coming into Wednesday, CRCL was already down 23% for the year.
The Q4 beat offers some relief, but the stock is still well off its highs.
Circle’s reserve income continues to be the core earnings engine. As long as USDC circulation holds or grows, that income stream remains intact.
USDC is pegged 1:1 to the U.S. dollar and backed by cash and short-term U.S. Treasuries. Its market price stays close to $1 by design.
The 72% year-over-year growth in circulation is the clearest signal of where momentum sits right now.
As of Tuesday’s close, CRCL was trading at around $61.38 before the premarket move to $69.36 on Wednesday.
The post Circle Internet (CRCL) Stock Jumps 13% After Q4 Earnings Beat appeared first on CoinCentral.


