Coinbase Just Gave Hyperliquid Holders the Gift of a Lifetime. Here's How to Benefit.

Every dollar of the stablecoin USDC that's in circulation is backed by reserves, mostly short-term U.S. Treasuries, that generate yield. Since it launched in 2018, virtually all of that income has been retained by its issuer, Circle Internet Group, (NYSE: CRCL) and its distribution partner, Coinbase Global, (NASDAQ: COIN) and the coin's base of holders never saw a cent. But now, Hyperliquid, (CRYPTO: HYPE) the decentralized crypto exchange, just changed the equation.Under a deal announced on May 14, Coinbase became the official USDC treasury deployer on the Hyperliquid network, with Circle handling all of the necessary cross-chain infrastructure. Per the agreement, Hyperliquid is now going to capture up to 90% of the yield from USDC deposits on its platform, which will be revenue used for buying back its native coin, Hype. That's going to be a huge gift for Hyperliquid's holders, so let's explore how it changes the investment thesis.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool