Jeremy Allaire, co-founder and CEO of Circle, announced during an earnings conference call, "We have completed the contract renewal with Coinbase under the existing terms, which ensures USDC continues to maintain a central position across all of Coinbase's product offerings." He added, "We look forward to significantly expanding the USDC network through distribution agreements with partners whose strategic directions align with ours." Previously, Coinbase had decided to exclusively retain the interest revenue generated from USDC within Hyperliquid, then pay 90% of it to Hyperliquid, a change from the previous 50/50 split of USDC interest revenue.
