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Circle Reports 19M in USDC Partner and Transaction Costs Thumbnail
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Circle Reports $819M in USDC Partner and Transaction Costs

High Conviction

Circle Internet Group disclosed roughly $819 million in USDC distribution-partner and transaction costs for the first half of the year, according to the company's second-quarter financial results, raising questions about the expense structure behind the world's second-largest stablecoin.

Thiago Alvarez•3 min read•Oct 16, 2026
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