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

CoinDesk
Will Canny @ CoinDesk 1 place · today 10:57 EDT

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

Hyperliquid's deal with Circle and Coinbase creates a "prisoner's dilemma" that puts pressure on earnings from the dollar-pegged stablecoin.

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