USDC cements dominance on HyperLiquid
The partnership between Coinbase and HyperLiquid to establish native USDC on the platform reinforces USDC's network effects and creates a defensive moat against Tether.
The argument
The speakers argued that despite being competitors, Coinbase and HyperLiquid structured a deal where Coinbase acts as the official treasury manager for USDC on the platform. This integration is expected to boost HyperLiquid's revenue by 25% while securing USDC's dominant position in decentralized perpetual markets.
The thesis, stress-tested
✓ What validates it
- ✓HyperLiquid daily buy-and-burn of HYPE reaches projected levels
- ✓USDC market share in perp platforms increases
▸ Risks discussed
- ▸Potential regulatory pushback on stablecoin yield-sharing models
- ▸Tether finding alternative integration paths to challenge USDC
Hear it yourself
"I think that makes sense. In your brain. Tim Apple makes sense too. That might even make more sense. You're right. You're right. Michael Strategy. Anyway So what what does The United States want? Yeah. On the on The United States side of the table, what does The United States want? The United States wants to secure large trade agreements, mostly planes and soybeans. Like, they wanna sell Boeing, and they wanna sell soybeans, and they wanna sell beef to China. They want to I think we buy soybeans from China. Oh, do we? Do I have some No."
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