Grayscale notes Hyperliquid earns steady income from Coinbase USDC interest

Community Trust Score Verified 94 % Real Verified 32 votes Updated 9 minutes ago Grayscale research published on October 30 details how Hyperliquid generates steady monthly revenue from interest payments made by Coinbase on approximately $6 billion in customer deposits. The arrangement, which began in May, sees Coinbase remit 90% of the interest earned on USDC reserves held on the Hyperliquid platform to the exchange, regardless of trading activity. Hyperliquid, a blockchain-based exchange for leveraged bets on prices, reported revenue of about $105 million in September, a figure nearly identical to the same period a year earlier despite a broader…