Circle defends USDC economics as stablecoin rivals court its partners with bigger cut

Crypto Insight Summary: Coinbase, Circle’s largest USDC partner, also backs Open USD, a rival network that passes reserve income to partners after a management fee. Crypto Insight Analysis: Direction: Bearish USDC Impact: Minor Impact Horizon: Short-term (1-3 days) Reasoning: Partner defection risks erode USDC's market position.