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

faviconcoindesk.com

July 14, 2026 · 2:57 PM

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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