JPMorgan warns Hyperliquid deal threatens Circle’s USDC economics
Interactive Brokers just added nine new tokens for trading through Zerohash.
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Every corner of finance touched crypto today.
Analysts, brokers, and central banks made moves that inched digital assets closer to the mainstream.
And a surprising inflation reading handed crypto a fresh tailwind.
Here's your daily market briefing.
Hyperliquid's landmark USDC deal could force Circle to share reserve yield it once kept for itself.
JPMorgan warns the arrangement sets a precedent, pressuring Circle into similar concessions across the industry.
Circle's entire business model relies on pocketing interest from USDC reserves, so even small yield-sharing shifts hit the bottom line hard.
Markets
Cooling inflation sends crypto higher as rate hike fears fade
June core CPI came in flat month-over-month, well below the expected 0.2% increase.
Market-implied odds of a July rate hike cratered from nearly 50% to about 12%.
Fed Chair Warsh offered no forward guidance but called inflation "a choice" shaped by policy.
BTC climbed near $65K, ETH pushed above $1,870, SOL traded near $77, and XRP held around $1.10.
Interactive Brokers adds stablecoin withdrawals and nine new crypto tokens
Interactive Brokers now lets clients withdraw US dollars as USDC, PayPal USD, or Ripple USD.
The brokerage also added nine tokens through its partnership with ZeroHash.
When a firm managing over $500B in client equity adds stablecoin rails, that's infrastructure going mainstream.
ECB picks 36 payment providers for its 2027 digital euro pilot
The European Central Bank selected 36 firms for a year-long digital euro pilot starting in late 2027.
The project will test whether a CBDC can handle real-world payments across the eurozone.
A working digital euro could sideline non-European payment networks and euro-denominated stablecoins alike.
On Our Radar
Blockchain's redemption arc: solving ad-tech problems minus the crypto theater.*
The Buffett exit: Oracle of Omaha pledging his entire Berkshire fortune to charity.
Stablecoins getting serious money: Dragonfly and FirstMark back Velocity's $38M Series A.
*sponsored
ICYMI
Meme of the Day
That’s your briefing. Catch you next time.
Vi
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