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Coinbase’s Q2 earnings point to shrinking USDC margins for Circle, Mizuho says
theblock.co/post/365302/coinbases-q2-earnings-point-to-shrinking-usdc-margins-for-circle-mizuho-says
The analysts estimate Circle paid more than half of the total interest income it earned from USDC reserves to Coinbase.
This story appeared on theblock.co, 2025-08-01 19:01:20.