Arkham: Circle Sends About $4.4B USDC to Coinbase via HyperEVM in Record Onchain Transfer

Blockchain analytics firm Arkham reported that Circle transferred 4.397 billion USDC to a Coinbase address over the HyperEVM network, the largest single onchain USDC transfer on record. The move is widely seen as part of Coinbase's execution of its newly announced role as Hyperliquid's official USDC treasury provider. Coinbase previously said it had partnered with Hyperliquid and would serve as the platform's USDC treasury issuer, with USDC positioned as the ecosystem's main quote and settlement asset.