Coinbase will charge a 0.1% fee on "USDC to USD" transactions over $5 million

ChainCatcher news, according to Cointelegraph, cryptocurrency exchange Coinbase announced that starting from August 13, it will charge a fee of 0.1% on USD conversions for USDC with a net exchange amount exceeding $5 million within 30 days.

Coinbase executives stated that this move aims to assess the impact of fees on USDC withdrawal behavior, especially in the context of some competitors charging higher withdrawal fees. Analysts pointed out that this policy may be intended to curb users' arbitrage behavior of converting USDC to USD through USDT.