Coinbase CFO: The distribution contract for USDC with Circle will automatically renew every three years and will never terminate

Coinbase Chief Financial Officer Alesia Haas stated during this morning's earnings call: "I want to quickly remind everyone that our USDC contract (note: referring to the distribution agreement with Circle) automatically renews every three years and is perpetual. This contract cannot be terminated."

Coinbase Chief Compliance Officer Paul Grewal also stated: "Fortunately, the terms of the contract we have signed with Circle are established, and as Alesia Haas emphasized, these contracts will automatically renew. We expect to continue our partnership with Circle under the same terms in the future."