Coinbase Completes $4.397B USDC Settlement on Hyperliquid in Single Block, Zero Fees, June 14

HYPE2.37%
According to tech observer Aakash Gupta, Coinbase completed a single-block settlement of approximately $4.397 billion in USDC on June 14, with zero on-chain fees and second-level confirmation. The USDC, issued by Circle, was deployed to the Hyperliquid ecosystem to support its derivatives market margin and settlement infrastructure. The transaction demonstrated on-chain infrastructure efficiency in large fund transfers without requiring traditional banking clearance, inter-institutional reconciliation, or associated costs.
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