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Coinbase takes over USDC treasury for Hyperliquid, boosting HYPE token and staking demand.

Market News
09 Jun 2026
Blockonomi
View Source
Bullish
pluang ai news

Coinbase has become the official USDC deployer for Hyperliquid's treasury, staking $32 million in HYPE tokens and managing funds via the AQAv2 yield system. This move has driven the HYPE token price up over 10%, from $60 to around $64. Analysts estimate this partnership could add up to $200 million in annual revenue for Hyperliquid, which uses most earnings to buy back HYPE tokens. Kraken also launched HYPE staking, increasing demand further as both exchanges compete in the US perpetual futures market following new regulatory guidance.

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