The SEC’s investigation dates back to 2023, focused on the revenue split from USDC between Coinbase and Circle. They requested details on Coinbase’s stablecoin revenue generation and its dependence on USDC reserves.
In 2024, Coinbase reported a revenue increase to 910 million USD, as CEO Brian Armstrong aims to position USDC as the top dollar stablecoin, competing directly with Tether.
Leave a Reply