PANews reported on May 8th that, according to Yahoo Finance, Coinbase CFO Alesia Haas stated during this morning's earnings call: "I want to quickly remind you that our USDC contract (referring to the distribution agreement with Circle) automatically renews every three years and is perpetually renewable. The contract cannot be terminated."

Coinbase Chief Compliance Officer Paul Grewal also stated, "Fortunately, the terms of our contracts with Circle are already finalized, and as Alesia Haas emphasized, these contracts automatically renew. We anticipate continuing our partnership with Circle on the same terms in the future."