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Circle Internet Group stock is sliding despite strong revenue and higher average USDC in circulation

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The stablecoin issuer has seen its share price swing wildly since its market debut in June. It just reported its second earnings as a public company. Circle Internet Group released its third-quarter earnings on Wednesday, November 12, announcing a 66% jump in revenue and reserve income year-over-year (YOY). The $740 million figure stemmed, in large part, from a 97% increase YOY of average USDC in circulation.