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Circle Revenue Slips, Stablecoin Business Arc Shines Amid Crypto Rout

Guavy AI Editorial Team
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Circle Internet Group Inc., the largest US stablecoin issuer, reported mixed results for investors on Wednesday. The company's revenue fell short of analysts' expectations in the second quarter, but its earnings surpassed forecasts. Circle's 'other' revenue outlook has been revised upwards due to token sales.

The firm nearly doubled its full-year guidance for 'Other Revenue', projecting $310 million to $330 million. This increase is attributed to Arc, a blockchain network designed for stablecoin payments and financial applications, according to the company.

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