🚨 Coinbase now captures nearly half of all USDC reserve income.



The latest data shows Coinbase’s share has grown from 17.8% in Q1 2022 to around 50% in recent quarters.

In Q1 2026, Coinbase received 49.6% of the total USDC reserve yield, almost matching Circle’s retained portion.

This reflects Coinbase’s strong position in the USDC ecosystem as total reserves have scaled up significantly.

A clear example of deepening alignment between Coinbase and USDC.

What’s your view on this split going forward?

Data as of May 2026, Source: Artemis

#USDC #Coinbase #Stablecoins #Crypto #DeFi
USDC0.01%
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