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Coinbase to charge conversion fees above $75M monthly volume

Coinbase — the largest United States-based crypto exchange — has introduced commission fees for net conversions from USD Coin to U.S. dollars exceeding $75 million in 30 days. An exception will be made for Tier 1 and Tier 2 Coinbase Exchange Liquidity Program members. 

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Coinbase — the largest United States-based crypto exchange — has introduced commission fees for net conversions from USD Coin to U.S. dollars exceeding $75 million in 30 days. An exception will be made for Tier 1 and Tier 2 Coinbase Exchange Liquidity Program members. 

The announcement appeared on the Coinbase help page on Jan. 30. According to the page, from Feb. 5, Coinbase will begin imposing a fee on USD Coin to U.S. dollar net conversions over $75 million in a rolling 30-day period.

Customers will pay 0.10% for a monthly volume between $75 million and $150 million. The fee for transaction volume between $150 million and $500 million will be 0.15%, and the maximum rate of 0.20% will be applied to volume exceeding $500 million. All fees will be assessed directly from the USDC to U.S. dollar conversion amount.

As explained by Coinbase in the announcement, net conversion is calculated by subtracting the total U.S. dollar to USDC conversion volume from the total USDC to U.S. dollar conversion volume over a 30 day period.

On Jan.23, JPMorgan analysts downgraded Coinbase’s stock to an underweight rating, citing the falling price of Bitcoin and listing shares of spot BTC exchange-traded funds. On Jan. 25, the company’s stock price reached a monthly low of $121. It sits at $132.82 at the time of writing, almost 20% lower than at the beginning of January.

Nevertheless, the exchange remains one of the principal advocates for the crypto market in the United States. On Jan. 22, Coinbase publicly replied to the U.S. Treasury Department’s Financial Crimes Enforcement Network’s proposition to tighten the scrutiny over crypto mixers, calling it “a waste of time.”

Coinbase’s nonprofit advocacy organization, Stand with Crypto, has been actively tracking the crypto stance among U.S. lawmakers, and it recently estimated up to 18 crypto-friendly senators.

The company is also leading its own legal battle against the U.S. Securities and Exchange Commission. The SEC filed a lawsuit against Coinbase on June 6, 2023, alleging the crypto exchange violated federal securities laws. However, according to analysts, Coinbase has a 70% chance of securing a complete dismissal of the lawsuit.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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