USDC’s 72% surge exposed the expensive truth behind Circle’s stablecoin dominance
Circle incurred $1.4 billion in distribution prices linked to Coinbase in 2025, up from $924.5 million the yr earlier than, in keeping with the firm’s personal 10-Okay submitting. Those distribution prices equaled roughly 51% of its complete 2025 income and reserve revenue. USDC circulation grew 72% yr over yr to $75.3 billion in the fourth…
