CIRCLE Q3 2026: $865M REVENUE, 85% EBITDA BEAT, BINANCE $100M INVESTMENT

Summary from the TLDR Crypto newsletter

Circle reported Q3 2026 revenue of $864.9M and adjusted EBITDA of $317M, beating consensus by 85% as USDC minting reached $104B against an $82.45B estimate. Binance committed a $100M equity investment and expanded its USDC partnership, while Circle agreed to acquire Tazapay to add $25B+ in annualized payment volume across 100+ markets. Samsung Wallet and Visa Direct deployments extended USDC access to bank accounts in 60+ countries and payout rails across 180+ countries. USDC market share slipped 1.83 percentage points year-over-year to 27%, and Circle cut ~5% of staff as reserve income (about 75% of revenue) faces pressure from falling rates.