Circle crushes Q3 estimates as staff shrinks 5%

Circle’s recent earnings "beat" is a total illusion. While they reported record revenue, their core business of earning interest on USDC reserves actually plummeted by 8%. The only reason they didn't embarrassingly miss Wall Street expectations by over $100 million is a one-time $182 million token presale that won't happen again. With interest rates falling and staff being cut, is Circle’s business model actually sustainable, or are they just manufacturing growth? What’s your take?
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