📊 DATA: USDC moved $32T on-chain through August, but Circle still made 95.2% of its Q2 revenue from reserve income.

The gap is the story: USDC usage is huge, but Circle still earns far more from interest than transactions. Arc’s Sept. 16 launch puts that model to the test.

https://cryptoslate.com/circle-processed-32-trillion-in-usdc-transfers-yet-95-of-its-revenue-relies-entirely-on-interest-rates/

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