Circle, the company behind USDC, cut about 5% of its workforce, it disclosed in its third-quarter 2026 results. The company said the cuts were meant to align its structure with its operating model and priorities. It did not say how many employees or which teams were affected.
Circle recorded $9.1 million in restructuring expenses, mainly for notice periods, severance and related employee costs. It also reported $226 million in net income from continuing operations, up 5% from a year earlier. Of its $865 million in total revenue and reserve income, $182 million came from a presale of the Arc blockchain’s token; reserve income fell 8% to $658 million.
