CoinDesk·4 min read·hard
JPMorgan says Hyperliquid's rise threatens Circle's USDC economics
W
Will Canny
✦AI Summary
JPMorgan has lowered its financial forecasts for Circle and Coinbase following a new agreement involving the crypto exchange Hyperliquid. The bank suggests this deal creates a 'prisoner's dilemma' that weakens the economic model of the USDC stablecoin.
JPMorgan (JPM) lowered its forecasts for Circle Internet (CRCL) and Coinbase (COIN), saying their revamped agreement with Hyperliquid weakens the economics of Circle's USDC and posed a bigger long-term threat to the stablecoin issuer.
businesscryptoeconomy
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