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Markets1h 59m ago

JPMorgan has reduced its earnings forecasts for Circle and Coinbase following a new revenue-sharing deal with Hyperliquid.

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Global

Who
JPMorgan, Circle, Coinbase, Hyperliquid
What
JPMorgan has reduced its earnings forecasts for Circle and Coinbase following a new revenue-sharing deal with Hyperliquid.
When
Tue, 14 Jul 2026 21:03:10 GMT · 1h 59m ago
Where
Global ·
Why
The new Hyperliquid revenue-sharing deal raised concerns about the profitability and economics of USDC.
The Frontline Impact

How this affects you

JPMorgan's action indicates potential shifts in the profitability outlook for major stablecoin issuers and exchanges. This could influence investor sentiment and strategic decisions within the cryptocurrency market regarding stablecoin economics.

Story chain

4 events in this thread
  1. Markets55m ago
    JPMorgan cut Circle and Coinbase earnings forecasts, warning the Hyperliquid USDC deal could pressure reserve income despite higher adoption.
    Open article
  2. Currently Reading1h 59m ago
    JPMorgan has reduced its earnings forecasts for Circle and Coinbase following a new revenue-sharing deal with Hyperliquid.
  3. Markets1h 59m ago
    JPMorgan reduced earnings forecasts for Circle and Coinbase due to a new revenue-sharing deal with Hyperliquid impacting USDC profitability.
    Open article
  4. Markets3h 28m ago
    JPMorgan has reduced earnings forecasts for Coinbase and Circle, citing that a partnership with Hyperliquid weakens revenue economics for both firms concerning USDC.
    Open article

Verified Sources & Citations