**[Circle Ensures USDC Maintains Core Position Within Coinbase Ecosystem, Three-Year Revenue-Sharing Agreement Renewed]** BlockBeats News, August 5: Jeremy Allaire, founder and CEO of USDC issuer Circle, stated during tonight's earnings call: "We have renewed our agreement with Coinbase under the existing terms, ensuring that USDC continues to hold a core position across all Coinbase product ecosystems. We also look forward to expanding our USDC network through distribution agreements with strategically aligned partners." On August 18, 2023, Circle and Coinbase signed a "Collaboration Agreement." As the sole issuer of USDC, Circle will share interest income generated from USDC reserve assets with Coinbase: Coinbase will receive 100% of the reserve interest generated by USDC held on its platform, as well as 50% of the remaining reserve interest generated by USDC held outside the platform. The initial term of the agreement is three years, with an automatic renewal mechanism in place. According to BIT (bit.com) market data, U.S. stock CRCL fell 2.8% intraday, trading at $61.5. [Original Link]