# Circle Shares Top $90 as U.S. Jobless Claims Put Rates in Focus

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/36927
Published: 2026-10-21T18:34:11.000Z
Updated: 2026-10-21T18:34:11.000Z
Section: Investing

> Circle’s reserve income accounted for 95.2% of revenue in the quarter ended June 30. The company’s rate-sensitivity model uses fixed assumptions and is not a forecast of the next Fed decision.

Circle Internet Group shares moved above $90 on Wednesday as investors awaited Thursday’s U.S. jobless-claims report, putting the issuer’s interest-rate exposure in focus ahead of the Federal Reserve’s next policy decision.

CRCL traded at $92.04 at 2:07 p.m. ET (18:07 UTC) Oct. 21, compared with Tuesday’s close of $85.87. The stock had crossed $90 before the labor report was released.

The weekly claims report is scheduled for 8:30 a.m. ET (12:30 UTC) Thursday, Oct. 22. In the previous report, seasonally adjusted initial claims totaled 199,000 for the week ended Oct. 10, up 1,000 from the prior week’s revised figure of 198,000. The four-week average was 198,500.

The report comes before the Federal Reserve’s next policy decision, scheduled for Oct. 28 at 2 p.m. ET (18:00 UTC). The Fed’s meeting is set for Oct. 27–28.

Interest rates affect Circle’s reserve income from assets backing USD Coin (USDC). That income totaled $667.733 million, or 95.2% of revenue, in the quarter ended June 30, 2026. USDC in circulation stood at $73.3 billion at quarter’s end.

Circle’s hypothetical model considers a 1-percentage-point rate decline beginning July 1, 2026, held constant for 12 months. It assumes USDC circulation stays at its June 30 level and reserve allocation remains unchanged. Under those conditions, modeled reserve income falls by $737 million over 12 months, while modeled distribution and transaction costs fall by $360 million.

The sensitivity scenario is not a forecast of the Oct. 28 Fed decision or its effect on CRCL shares. It holds circulation and reserve allocation fixed; the amount of USDC in circulation also affects reserve income.