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

Coinbase executives stated that this move aims to assess the impact of fees on USDC withdrawal behavior, especially against the backdrop 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.