Circle (CRCL): FY25 Q3 earnings call, Nov 12, 2025
On its Nov 12, 2025 earnings call (FY25 Q3), Circle said 6 of the 8 words Kalshi listed; Parrot’s count agreed with all 8 settlements. Quotes below are at most 25 words each.
UpdatedMarkets
8 words · 6 settled yes · our count agreed on 8 of 8- Kalshi: company speakers + operator
Kalshi
backtest The probabilities on settled rows are a walk-forward backtest: the model as of before each event, computed after Parrot went live; they were not published at the time.
| Word | Result | Our count | All speakers | Agrees | Probability | Market |
|---|---|---|---|---|---|---|
| Testnet | Yes | 11 | 11 | ✓ | –new new word, no probability yet | – |
| M&A | Yes | 6 | 8 | ✓ | –new new word, no probability yet | – |
| Treasury | Yes | 2 | 2 | ✓ | –new new word, no probability yet | – |
| Fintech | Yes | 1 | 1 | ✓ | –new new word, no probability yet | – |
| Kraken | Yes | 1 | 1 | ✓ | –new new word, no probability yet | – |
| Traffic | Yes | 1 | 1 | ✓ | –new new word, no probability yet | – |
| Acceleration | No | 0 | 0 | ✓ | –new new word, no probability yet | – |
| Shutdown / Shut Down | No | 0 | 0 | ✓ | –new new word, no probability yet | – |
Market prices are mid quotes from Kalshi and Polymarket, shown for context, may be delayed by several minutes and are not a signal. Quotes as of Oct 20, 2026 15:46 UTC.
Transcript
quotes of at most 25 wordsSpeaker-labelled transcript · Source and credits · Used to count words; quotes of at most 25 words.
11 matches for “Testnet”; 5 quoted, at least 25 words apart.
…we've delivered continued expansion in our platform. We launched Arc into public testnet in recent weeks with over 100 major participants. I'm going to talk…
…significant milestone in recent weeks with the launch of the Arc public testnet. When we think about this layer of infrastructure, we really look at…
…to bring stablecoin finance and real-world economic activity on chain. Our public testnet launched with over 100 world-class companies spanning every major category of the…
…as that comes together. But I think based on the Arc public testnet launch and the engagement we're seeing from developers already, we're really excited…
…think the first is that we have -- with Arc now in testnet, we are activating the Arc as an infrastructure in testnet across all…
Where the listed words were said
…day, our tokenized money market fund product USYC went live on Arc testnet. And so we want to make sure that, that full suite is…
And then just taking the M&A part of your question. When we've talked about M&A and our internal M&A strategy, right, we see M&A as…
…that are built for the Internet economy, application utilities for payments, commerce, treasury management, capital formation, lending, governance and many other applications that are fundamental…
…world, including with leading companies such as Brex, Deutsche Börse, Fireblocks, Finastra, Kraken and Itaú, the largest bank in Latin America. These are all key…
…bridge providers that we track, CCTP represented 47% of all of that traffic. In October, it was over 50%. This is really key as we…
Agents: this page as TSV at /api/v1/appearances/circle:2025-11-12:earnings_call · words: /api/v1/brief?appearance=circle:2025-11-12:earnings_call · columnar JSON in #parrot-data · llms.txt · MCP