Circle shares jump as earnings beat offsets revenue miss, Arc blockchain gains Wall Street backing

60-second summary

Circle shares are surging 10% in pre-market trading after the stablecoin issuer reported earnings that beat expectations, despite missing revenue projections. The company's institutional adoption of its layer 1 blockchain Arc has garnered Wall Street backing, fueling investor optimism. This development is expected to boost Circle's market value and further legitimize its blockchain technology.