Odaily Planet Daily News: JPMorgan Chase (JPM) released a report stating that Coinbase's partnership with Circle and investment in Circle's USDC stablecoin are generating significant financial advantages, including through equity appreciation and high-margin revenue streams. It is reported that Coinbase currently holds approximately 8.5 million shares of Circle. In the first quarter of this year alone, Coinbase received approximately $300 million in distribution fee income from Circle, exceeding Circle's total net income of $230 million. The bank estimates that as of the end of the first quarter, the USDC balance on the Coinbase platform was $13 billion, generating $125 million in revenue for the company, with a profit margin of 20-25%. (CoinDesk)