Circle CEO says Coinbase contract renewed on existing terms

Circle has renewed its agreement with Coinbase on existing terms, ensuring USDC will continue to hold a central role across all Coinbase products, Circle co-founder and CEO Jeremy Allaire said on an earnings conference call. Allaire added he expects distribution agreements with partners whose strategic direction aligns with Circle’s to help meaningfully expand the USDC network. Earlier, Coinbase decided it would retain all interest income generated from USDC on Hyperliquid, unlike its previous 50-50 split of USDC interest revenue, and then pay 90% of that income to Hyperliquid.