Circle Moves $4.4 Billion to Coinbase in Largest-Ever On-Chain USDC Transfer

Blockchain intelligence platform Arkham reported that Circle moved approximately 4.397 billion USDC to an address associated with Coinbase via the HyperEVM network, marking the largest single USDC transfer ever recorded on-chain.

The transfer follows Coinbase’s recently announced partnership with Hyperliquid, under which Coinbase became the platform’s official USDC treasury provider.

As USDC serves as Hyperliquid’s primary quote and settlement asset, the transaction is believed to be part of Coinbase’s treasury-related responsibilities within the ecosystem.

Source: Arkham