Coinbase will charge a 0.1% fee for "USDC to USD" transactions exceeding $5 million

According to a report by Golden Finance, Cointelegraph has revealed that cryptocurrency exchange Coinbase will charge a 0.1% fee for converting USDC to US dollars with a net exchange amount exceeding $5 million within 30 days starting from August 13th. Coinbase executives stated that this move is to understand the impact of fees on USDC withdrawals, especially in the context of some competitors charging higher withdrawal fees. Analysts suggest that this policy may be aimed at curbing arbitrage behavior where users convert USDT to USDC and then withdraw US dollars.