JPMorgan Cuts Circle and Coinbase Forecasts on Hyperliquid Deal

JPMorgan downgraded earnings estimates for Circle and Coinbase, citing their new agreement with Hyperliquid as a factor that weakens USDC economics. The deal is expected to reduce revenue from stablecoin operations, prompting the bank to lower its financial outlook for both companies.

Detected & updated continuously · Source: Nebula

Mentioned

Hyperliquid (hype)@coinbase@circle