Circle Posts $482M Q2 Loss, Trump’s WLF Inks $1.5B Deal

Circle, issuer of the USDC stablecoin, posted a net loss of $482 million in Q2 as a public company. Revenue and reserve income rose 53% year-on-year to $658 million, but $591 million in non-cash IPO charges (including $424 million in stock-based compensation) and $407 million in distribution and transaction costs weighed heavily on its results. To bolster USDC’s role, Circle unveiled Arc, an EVM-compatible Layer-1 blockchain using USDC for gas fees and offering configurable privacy controls. Arc’s public testnet is expected this fall. Circle Posts $482M Q2 Loss did not deter its share price from a modest 1.3% gain at the open, though shares closed at $163.21 and fell 5% in after-hours trading. The company also announced a follow-on offering of 10 million Class A shares. Meanwhile, Trump-backed World Liberty Financial (WLF) led a $1.5 billion financing for blockchain fintech firm ALT5 Sigma. The deal comprises 100 million registered shares and 100 million private placement shares at $7.50 each. WLF provided $750 million in WLFI tokens and received one million ALT5 shares plus 99 million pre-funded warrants. Post-deal, WLF’s founders, including Eric Trump, will join ALT5’s board, and the transaction values WLFI at $0.20, up from its initial $0.015 price. ALT5 plans to use proceeds to acquire WLFI tokens, expand its crypto treasury, settle litigation and fund operations.