Hyperliquid's USDC Deal: How DeFi Distribution Can Reshape Stablecoin Economics
JPMorgan reports that Hyperliquid holds approximately $6 billion in USDC. Under Coinbase's on-platform model, Hyperliquid is set to receive roughly 90% of the reserve income. The article frames this as an example of how DeFi distribution can reshape stablecoin economics.
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