S&P 500
5526.69 +0.67%
NASDAQ Composite
NASDAQ
17927.9 +1.13%
Bitcoin
BTC
$67,015 -0.21%
Ethereum
ETH
$3,458 -1.47%
US10Y
4.219% -0.0199
Header logo
  1. Research
  2. Crypto Research
  3. Market Update

Coinbase Announces Increase to USDC Rewards Program and the French Arm of Binance Under Investigation

Jun 16, 2023
Author
JB DeGroft
JB DeGroft
Market Update At the time of writing, crypto markets have continued to lag behind other asset classes today - with $BTC and $ETH down 0.34% and 0.17%, respectively. Traditional markets continue to move higher, with SPX up 0.18% and NDQ up 0.08%. Gold has also risen 0.10%. The majority of altcoins continue to underperform Bitcoin and Ethereum. $OP is down 1.44%, $SOL is down 0.95%, and $LINK is down 1.83%. Chainlink's price fell last night and this morning when the Chainlink Foundation announced that 7% of the token's supply would be unlocked from Q3 2023 to Q1 2024. There are a couple of altcoins that are outperforming however, $LDO is up 1.31% and $CFX is up 2.69%.On Thursday, Coinbase announced an increase to its USDC rewards program, now offering customers a 4% return on their stablecoin holdings. Previously, the company offered customers a 2% reward rate on its platform. This increase aims to incentivize more users to use Coinbase to store their USDC. According to Coinbase, the specific reward rates are subject to modification, and customers will have direct visibility of the most up-to-date rates within their accounts. This move comes as the company faces scrutiny from the SEC, which sued the crypto exchange earlier this month, alleging it had violated securities laws

Unlock this page with a FREE 30-Day Trial!

*Free trial available only on a monthly plan

Already a member?

Reports you may have missed

Bitcoin Equilibrium Price Likely to Top $168,000 Following ETF Approval, FSInsight Says

CRYPTO MARKET UPDATE U.S. EQUITIES ARE CONTINUING THIS WEEK’S SELL-OFF, WITH THE SPY 0.67%  AND QQQ 1.11%  BOTH DECLINING APPROXIMATELY 0.28%, WHILE THE DXY N/A% AND TREASURY YIELDS INCH UPWARDS. In contrast, BTC -0.21% is moving sharply higher, trading at $65.8k, with rumors circulating that former President Trump will unveil plans to add Bitcoin as a strategic reserve at next week’s Bitcoin conference. ETH -1.47% is trading at $3,450 ahead of potential S-1 approval after...

BONK 0.01% BTC -0.21% DXY N/A% ETH -1.47% JUP -8.65% QQQ +1.11% SOL 3.48% SPY +0.67% WIF 8.46%
Art Rachen YJpjLD3c9bU Unsplash

CRYPTO MARKET UPDATE THE CRYPTO MARKET MOVED HIGHER IN THE EARLY MORNING HOURS AND IS NOW CONSOLIDATING POST-US MARKET OPEN. BTC -0.21% once again challenged the $65k level and is currently sitting just below it, following the ninth consecutive day of net inflows for BTC -0.21% ETFs. ETH -1.47% is showing outsized strength, likely due to ETF issuers filing their final documents yesterday afternoon, with the ETF launch expected on Tuesday (more on...

BTC -0.21% ETH -1.47% ETHBTC JUP -8.65% SOL 3.48% USDT -0.01% WIF 8.46%
Bitcoin rises back toward record as first related U.S. ETF begins trading

CRYPTO MARKET UPDATE U.S. EQUITIES ARE MOVING SHARPLY LOWER AMID CHINA TRADE FEARS AFTER THE BIDEN ADMINISTRATION STATED IT'S CONSIDERING IMPOSING SEVERE RESTRICTIONS ON CHIPMAKERS IF CHINA CONTINUES RECEIVING ACCESS TO ADVANCED SEMICONDUCTOR TECHNOLOGY. The SPY 0.67%  has dropped below $560 while the QQQ 1.11%  is showing more pronounced losses, falling to $484. Crypto is relatively flat, with BTC -0.21% trading near $65k. Bitcoin ETF flows continue their positive streak, posting the eighth...

BTC -0.21% ETH -1.47% FIL 0.16% LDO -1.00% LPT -2.82% NEAR 0.17% QQQ +1.11% RNDR 1.17% SPY +0.67% TAO -4.02% WLD -0.60%
Bitcoin could soar an additional 38% after topping its record high of $65,000, according to Fairlead's Katie Stockton

CRYPTO MARKET UPDATE AS EXPECTED, BTC -0.21% AND THE WIDER CRYPTO MARKET MOVED LOWER ON THE NEWS THAT THE MT. GOX TRUSTEE HAD TRANSFERRED BTC -0.21% OUT OF THE TRUSTEE WALLETS TO PARTNER EXCHANGES. However, the market has since rebounded, with BTC -0.21% pushing $65k after touching $62.5k in the early morning hours. ETH -1.47% has also rallied, though it is slightly lagging despite the upcoming launch of ETH -1.47% ETFs next Tuesday. ETF flows...

AR -5.66% BCH -0.51% BONK 0.01% BTC -0.21% ETH -1.47% ETHBTC PEPE 2.13% SOL 3.48% WIF 8.46% XRP 4.37%
FS Insight

Sign in to read the report!

We have detected you are an active member!

or

Sign in with Google

Sign in with Twitter
Ray: fe414d-b87607-b16099-8fb5cd-119e1c