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A Single On-Chain Settlement of 4.397 Billion USDC: Instant Confirmation, Zero Fees Trigger Debate on Traditional Centralized Trading Models

2 hours ago

On June 14, tech observer Aakash Gupta reported that Coinbase processed a transfer of roughly $43.97 billion in USDC via HyperEVM. The funds settled in a single block, confirmed in seconds, with zero on-chain transaction fees. The transferred USDC, issued by Circle, was deployed to the Hyperliquid ecosystem to support its derivatives market margin and settlement system. The transaction underscores the efficiency advantage of on-chain infrastructure for large-value fund transfers: finalizing funds with on-chain finality eliminates the need for traditional banking clearing processes or inter-institutional reconciliation, with costs near zero. By contrast, funds of this scale in traditional centralized exchange (CEX) systems typically require multi-layer custody, internal ledger transfers, and risk control workflows. Analysts believe that such "instant large-value settlements" are strengthening the narrative that on-chain exchanges can serve as alternatives to the CEX clearing layer—particularly evident in perpetual contracts and stablecoin-based markets.
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Targeting WeChat! Alipay Plans to Introduce AI Assistant "Alibaba" to Handle Everything from Hailing a Ride to Ordering Food and Purchasing Funds in One Stop

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Ant Group is secretly testing an AI-powered version of Alipay

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Michael Saylor Explains Strategy Behind Two Key Bitcoin Metrics: BPS Is a Growth Story, CEBE BPS Is Real Risk Exposure

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