PropMarketCapFRESHExchanges and infrastructure
Circle cut 5% of its staff: USDC stablecoin issuer closed the quarter with a $226 million profit
The issuer of the USDC stablecoin (a coin with an exchange rate pegged to the dollar) laid off about 5% of its employees and spent $9.1 million on it, even though net profit for the quarter grew. The reduction is mentioned in a footnote to the third-quarter report.