Hyperliquid Makes Money in a Bear Market Without Anyone Trading, Grayscale Says

Crypto Insight Summary: Grayscale shows Coinbase hands Hyperliquid 90% of the interest on $6B in USDC. Here is what the deal pays and who benefits. Crypto Insight Analysis: Direction: Bullish HYPE Impact: Minor Impact Horizon: Mid-term (1-8 weeks) Reasoning: Stronger revenue visibility benefits HYPE, but the deal has limited direct impact on the broader crypto market.