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Circle10-Q: Competitor named

Circle names Coinbase as a key platform impacting its distribution costs and reserve income.

What happened

The company's financial performance, specifically its distribution and transaction costs, is directly linked to the amount of USDC held on Coinbase's platform. This dependency highlights a critical operational relationship with a major industry player that is also a competitor.

Source

SEC EDGARAug 5, 2026

Quarterly report (Form 10-Q)

Circle 10-Q

Filing excerpt

Reserve return rate is a contributing factor to reserve income (the other being, primarily, USDC in circulation), which in turn is a contributor to distribution and transaction costs (the others being, primarily, the amount of USDC held on and off our and Coinbase’s platforms).

sec.gov/Archives/edgar/data/1876042/000187604226000248/crcl-20260630.htmRead the full source

Other signals in this filing (9)

Extracted by Autobound

From the Signal API record
Signal
10-Q: Competitor named

What this signalsFilings often name leadership changes, deals and spending plans.

Fiscal year end
06/30
Filed
Aug 5, 2026

More 10-Q signals at other companies

The full record

From the Signal API record

Details

CIK
1876042
Accession number
0001876042-26-000248
Filing year
2026
Fiscal year
0
Why it matters
Competitive intelligence
Signal category
Market

Topics and mentions

Competitors

  • Coinbase

Extraction

Confidence
High
Relevance
80%
Sentiment
Neutral
Detected
Aug 11, 2026
signal_type
sec-10q
signal_subtype
competitorNamed

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The API returns more than this page shows

This page shows a preview. The full sec-10q record in the Signal API and MCP can also have these 8 fields. Some fields are empty for some signals.

Company

  • linkedin_urlValue in the API
  • industriesValue in the API
  • employee_count_lowValue in the API
  • employee_count_highValue in the API
  • revenueValue in the API
  • descriptionValue in the API

Signal

  • signal_nameValue in the API
  • associationValue in the API
Show the full JSONThe record on this page and the API request

GET /v1/signals/0e2aba9c-d931-4bd6-a351-a5e49e258a7c returns this record as JSON. POST /v1/companies/enrich returns every signal for circle.com.

{
  "signal_id": "0e2aba9c-d931-4bd6-a351-a5e49e258a7c",
  "signal_type": "sec-10q",
  "signal_subtype": "competitorNamed",
  "detected_at": "2026-08-11T08:05:46.659+00:00",
  "company": {
    "name": "Circle",
    "domain": "circle.com"
  },
  "data": {
    "detail": "The company's financial performance, specifically its distribution and transaction costs, is directly linked to the amount of USDC held on Coinbase's platform. This dependency highlights a critical operational relationship with a major industry player that is also a competitor.",
    "summary": "Circle names Coinbase as a key platform impacting its distribution costs and reserve income.",
    "excerpts": "Reserve return rate is a contributing factor to reserve income (the other being, primarily, USDC in circulation), which in turn is a contributor to distribution and transaction costs (the others being, primarily, the amount of USDC held on and off our and Coinbase’s platforms).",
    "relevance": 0.8,
    "sentiment": "neutral",
    "confidence": "high",
    "source_url": "https://www.sec.gov/Archives/edgar/data/1876042/000187604226000248/crcl-20260630.htm",
    "filing_date": "2026-08-05",
    "filing_year": 2026,
    "fiscal_year": 0,
    "fiscal_year_end": "06/30",
    "sales_relevance": "Competitive intelligence",
    "signal_category": "market",
    "competitors_mentioned": [
      "Coinbase"
    ]
  }
}

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