Coinbase-Circle USDC Deal Renews as Fed Minutes Loom

Coinbase Global and Circle Internet Financial signed their USDC collaboration agreement on Aug. 18, 2023, after winding down the jointly created Centre Consortium. Circle remained the stablecoin’s issuer, while Coinbase retained a role in distribution and shared in income generated from USDC reserves under a formula tied to balances held across its products and broader ecosystem activity. The arrangement links the exchange’s earnings to USDC adoption, interest rates and regulatory treatment.

The agreement enters its first three-year renewal term on Aug. 18, 2026. Investors will also parse minutes of the Federal Reserve’s July 28-29 meeting, due Aug. 19, for signs policymakers are considering another rate increase. European Union operators face an Aug. 23 deadline to halt transactions with 14 named crypto-asset platforms, while geopolitical tensions keep oil-price risks in focus. Token supply events include an Aug. 18 unlock of about $40 million in TRUMP tokens.