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On chain data shows that USDC and cbBTC together account for 53% of all deposits on the entire Morpho platform, with Coinbase users contributing 83% of cbBTC deposits and 59% of USDC deposits. Of the $2.3 billion USDC loan on the Morpho platform, approximately $1.2 billion comes from Coinbase users who use cbBTC as collateral, accounting for over half.