JPMorgan says Hyperliquid's rise threatens Circle's USDC economics

▶ CoinDesk Jul 14, 2026 Jul 14 👁 1 views

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Hyperliquid's deal with Circle and Coinbase creates a "prisoner's dilemma" that puts pressure on earnings from the dollar-pegged stablecoin. Hyperliquid's deal with Circle and Coinbase creates a "prisoner's dilemma" that puts pressure on earnings from the dollar-pegged stablecoin. Read the full story on CoinDesk via the link below.

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