Morgan Chase: Curcle and Coinbase steady-currency operating-profit space pressure, lower profit expectations

On 15 July, according to Bloomberg, JP Morgan Chase & Co., the steady currency operations of Circle Internet Group and Coinbase Global are under increasing pressure for profit, and a new collaboration with Hyperliquid, the encryption trading platform, highlights the "prison dilemma" in which both companies find themselves. On Tuesday, the Bank lowered the profit expectations for the two front-line encryption companies, stating that the new cooperative arrangement changed the way income was distributed, i.e., the proceeds from USDC, the second largest stable global currency issued by Circle, would be distributed among distribution partners。