Connect with us

News

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. 

Published

on

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.

Business

7-Eleven South Korea to accept CBDC payments in national pilot program

Published

on

7-Eleven is set to participate in the testing phase of a central bank digital currency (CBDC) initiative, running from April to June. The retail giant’s involvement highlights the growing push for digital currency integration in everyday transactions.

The pilot program will assess the feasibility of CBDC payments at 7-Eleven stores, allowing customers to make purchases using the digital currency. The initiative is part of a broader effort to explore the real-world application of CBDCs in retail environments, potentially shaping future payment systems.

As central banks worldwide accelerate their digital currency research, private sector collaboration is seen as crucial for widespread adoption. If successful, 7-Eleven’s participation could pave the way for broader CBDC usage across retail and commercial sectors.

The outcome of the testing phase will provide valuable insights into consumer adoption, transaction efficiency, and potential regulatory considerations, influencing how CBDCs are integrated into mainstream financial systems.

Continue Reading

Business

SEC and Gemini ask to pause lawsuit to explore ‘potential resolution’

Published

on

The U.S. Securities and Exchange Commission (SEC) and crypto exchange Gemini have agreed to pause legal proceedings as both sides explore a potential resolution to their ongoing lawsuit. The move signals a possible settlement in the high-profile case, which centers around Gemini’s now-defunct Earn program.

The SEC initially sued Gemini, alleging that the Earn program—designed to offer users yield on crypto deposits—operated as an unregistered securities offering. Gemini has pushed back against the claims, arguing that its operations complied with regulatory standards.

By pausing litigation, both parties may be looking for a compromise that could set a precedent for crypto lending products in the U.S. A settlement could also provide regulatory clarity for similar platforms navigating SEC scrutiny.

While the outcome remains uncertain, the crypto industry is closely watching the case, as its resolution could impact future enforcement actions and the broader regulatory approach toward digital asset lending services.

Continue Reading

Business

GameStop finishes $1.5B raise to add Bitcoin to its balance sheet

Published

on

GameStop has successfully completed a debt offering, raising capital that may be used to acquire Bitcoin, signaling the company’s deeper foray into digital assets. The move aligns with its broader strategy to diversify beyond traditional retail operations and into emerging financial technologies.

While GameStop has not confirmed the exact allocation of the funds, market speculation suggests that a portion could be used to buy Bitcoin, following in the footsteps of companies like MicroStrategy. The potential investment would reinforce GameStop’s ongoing pivot toward blockchain and digital assets, an effort that began with its NFT marketplace and crypto-related initiatives.

Analysts see this development as part of a growing trend of corporations exploring Bitcoin as a reserve asset amid concerns over inflation and monetary policy. If GameStop proceeds with the acquisition, it could further validate Bitcoin’s role as a strategic investment for publicly traded companies.

The company’s board will ultimately decide how the newly raised capital is deployed. Investors and the broader crypto market are watching closely for any official announcements regarding GameStop’s Bitcoin strategy.

Continue Reading

Trending

Copyright © 2025 cryptonews.lk