Stablecoin Issuer Circle Cuts 5% Jobs

What happened: Stablecoin issuer Circle said it is cutting 5% of staff to align its organizational structure with its operating model and strategic priorities, as it reported third-quarter results. Key numbers: Third-quarter revenue rose 17% to $875 million, mostly from a one-time bump tied to a token sale. Staff cuts equal 5%. Why it matters: The revenue gain was largely one-time rather than recurring, and the job cuts are framed as aligning the organization with its operating model and strategic priorities. Coverage: 3 outlets in 24h

Stablecoin issuer Circle said it is cutting 5% of staff to align its organizational structure with its operating model and strategic priorities, as it reported third-quarter results.

The revenue gain was largely one-time rather than recurring, and the job cuts are framed as aligning the organization with its operating model and strategic priorities.