What happens if you build the second-largest stablecoin in the world, with over $60B in market cap – but someone else earns most of the profits?
That’s exactly the situation that Circle finds itself in with $USDC.
However awkward it may be for Circle, $USDC’s success highlights a major crypto win, setting the stage for other new cryptocurrencies to explode as the year progresses.
Coinbase’s Majority Revenue Share from $USDC Reserves
A recent filing has revealed that Coinbase Global receives 50% of the residual revenue generated from the reserves backing Circle’s $USDC stablecoin.
This revenue-sharing agreement is influenced by the amount of $USDC held on Coinbase’s exchange, directly impacting Coinbase’s share of Circle’s reserve income.
It’s a great deal for Coinbase, which made $908 million off $USDC in 2024 and stands as one of the linchpins of the crypto economy due to its established and upcoming token listings.
And this arrangement is not a one-off: it’s part of a robust business model for one of the world’s biggest crypto exchanges. In 2024, Coinbase reported a net income of $4.68 per share, with $COIN trading at $174 per share.
This deal also benefits Circle. The company made $155 million in net profit in 2024, and it was the first stablecoin to receive approval in Japan.
Circle’s net profit stands tall against its total revenue of $1.67 billion, positioning the company for a future public offering.
No April Fools: Circling an IPO Date
Recent reports indicate a substantial minting of 250 million $USDC at the USDC Treasury, which signals increased demand for the stablecoin.
Such large-scale minting events often reflect heightened trading activity, growth in decentralized finance (DeFi) applications, or increased institutional adoption within the cryptocurrency market.
This particular minting may be tied to the recent news that Circle has filed with the SEC to go public on the NYSE under the ticker CRCL.
With this move, Circle joins other prominent crypto names like Kraken and BitGo in pursuing a public listing under an increasingly favorable crypto regulatory environment.
Moreover, Circle’s $USDC is making strides in other realms. Sony recently announced supporting $USDC purchases online in Singapore, facilitated by Crypto.com’s payment system. This move marks a significant milestone for Circle and $USDC as it represents the company’s first foray into direct crypto payments in the region.
This event also casts a spotlight on the positively trending outlook for the crypto industry. Several altcoins are prepared to leverage this momentum; here are three worth examining closely.
1. MIND of Pepe ($MIND) – Real-Time Intelligence, Hive-Mind Analysis
With a remarkable 289% staking for MIND of Pepe ($MIND) during its presale, this project has the potential to revolutionize the AI agent landscape upon its launch.
The project has raised $7.8 million thus far and aims to establish a fully-independent AI agent on X that learns from the smartest crypto analysts, providing game-changing insights exclusively for $MIND token holders.
The structure of $MIND ensures long-term success and positions it to interact directly with the blockchain and launch its own tokens on Telegram, resulting in additional exclusive offerings for participants.
For more details on acquiring $MIND and its price projection, you can delve into our in-depth analysis.
2. Best Wallet Token ($BEST) – Exclusive Presale Access for a Leading Web3 Wallet
Aiming to capture a significant portion of the non-custodial Web3 wallet sector, Best Wallet Token ($BEST) enhances a good wallet, delivering great value to its holders.
$BEST token holders gain exclusive access to select crypto presales, enjoy lower transaction fees, and receive increased staking rewards through the Best Wallet app.
With staking rewards currently standing at 135% APY, the project has raised $11.5 million in its ongoing presale, with a token price of approximately $0.024575.
The potential for substantial gains makes it a promising investment opportunity.
3. Nexchain ($NEX) – The True AI Blockchain
Nexchain ($NEX) seeks to integrate AI within the crypto economy fundamentally by establishing the first-ever AI blockchain.
This ambitious project incorporates AI into core technology aspects, offering advantages such as enhanced interoperability, high transaction speeds, and a unique hybrid consensus that merges Proof-of-Stake with AI algorithms.
The ongoing presale has already garnered nearly $350,000 in funding, showcasing strong interest in its vision.
Sony’s USDC Payments Highlight New Crypto Potential
Sony’s integration of $USDC payments for its products is a noteworthy step, emphasizing the positive momentum this stablecoin has generated and its potential influence on other cryptocurrencies.
As the crypto landscape continues to evolve, it’s crucial to conduct thorough analysis and stay informed. Don’t overlook the potential for these emerging cryptocurrencies to make significant gains in 2025.
