Coinbase to charge 0.1% fee for USDC to US dollar swaps over 5 million USD

Starting August 13, Coinbase will charge a 0.1% fee for USDC to USD conversions over 5 million USD over a rolling 30-day period. Currently, conversions up to 40 million USD are free.

Critics express concern over the new charges potentially increasing transaction costs for USDC users. The fee adjustment stems from Coinbase’s recent struggle with achieving revenue expectations.