BUZZ-Circle climbs after higher Q1 revenue as stablecoin demand rises

Circle

Circle

CRCL

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** Shares of Circle CRCL.N up 2.2% at $116.22 premarket

** Company reported higher Q1 revenue and reserve income driven by increased adoption and circulation of its stablecoin

** Market volatility and the Middle East conflict pushed investors to rotate out of cryptocurrencies and into stablecoins to park capital earlier this year

** Circulation of USDC rose 28% from a year earlier to $77 billion at the end of the first quarter. Total revenue and reserve income grew 20% to $694 mln

** As of last close, CRCL stock up 43.3% YTD


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