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On February 25, it was announced that stablecoin issuer Circle's total revenue and reserve income for Q4 of fiscal year 2025 reached $770 million, a year-over-year increase of 77%. By the end of the year, the circulating USDC reached $75.3 billion, a 72% increase; in Q4 of 2025, on-chain USDC transaction volume was $11.9 trillion, a 247% increase.