[Circle's revenue in the first half of 2026 was approximately $1.4 billion, with $819 million paid to distribution partners] Circle's revenue in the first half of 2026 was approximately $1.4 billion. Of this, $819 million (about 59%) was paid to USDC distribution partners and transaction costs, $473 million (about 34%) was allocated to licensing, liquidity, and other infrastructure investments, with a net profit margin of approximately 7%.