According to MilkRoadDaily, Coinbase (COIN) currently receives a significant share of Circle's annual revenue—$908 million in 2023, representing approximately 54% of Circle’s $1.7 billion total revenue—for supporting and promoting USDC on its platforms (source: MilkRoadDaily, Twitter, May 20, 2025). If Coinbase were to acquire Circle, this move could nearly double Coinbase’s revenue from USDC, strengthening its dominance in the stablecoin market. This potential acquisition is highly relevant for crypto traders, as it could increase Coinbase's influence over stablecoin liquidity and trading volumes, directly impacting USDC and broader crypto market dynamics.