Coinbase has raised the USDC interest rate to 5%

Isha000

"Coinbase has increased the interest rate on all USDC held on the exchange to up to 5%, higher than the 4% offered earlier this year. According to historical data provided by the company's website, on June 9th, the USDC interest rate was 2%, making this rate increase a substantial 150% growth.

Market Data:
As of the time of writing, according to CoinMarketCap data:
- BTC recently traded at $25,843.50 with a 0.26% daily change.
- ETH recently traded at $1,617.91 with a -0.11% daily change.
- BNB recently traded at $212.34 with a -0.22% daily change.
- XRP recently traded at $0.4979 with a 0.30% daily change.
- DOGE recently traded at $0.0613 with a -0.13% daily change.
- ADA recently traded at $0.2492 with a 0.53% daily change.
- SOL recently traded at $18.246 with a 0.15% daily change.

Regulation:
- The Financial Intelligence Unit (FIU) in South Korea is reducing the number of personnel in its virtual asset inspection department from 9 to 7.
- Unstoppable Domains is expanding support for Unstoppable Messaging, allowing users with Ethereum Name Service (ENS) domains to participate in messaging on various platforms.
- dYdX Foundation's semi-annual report states that the dYdX Chain's mainnet is set to launch at the end of September.

Cryptocurrency:
- Glassnode reports that Bitcoin's Average Liquidation Value (MLV) for long futures contracts has reached a 19-month high.
- An elder from a church in the Gyeongsangnam-do region of South Korea has been sentenced to prison for embezzling hundreds of millions of Korean won from the church and investing it in stocks and cryptocurrencies.
- During the final days of Donald Trump's presidency, regulators quietly decided that banks can legally facilitate cryptocurrency transactions on behalf of customers, potentially opening the door for banks to hold cryptocurrencies.
- Anchorage Digital's CEO, Diogo Monica, commented on Prime Trust's issues, emphasizing that the problem is not with the technology used to custody assets but rather with how Prime Trust seemed to mishandle its use.

Trading Volume:
- Centralized exchange spot and derivatives trading volumes decreased by 11.5% in August, reaching $2.09 trillion. This marks the lowest monthly trading volume of the year and is attributed to price volatility, which led to the largest-scale liquidation event since the FTX collapse.
- This is the second-lowest comprehensive trading volume for centralized exchanges since October 2020, with the lowest monthly spot trading volume since March 2019.

Global Investment Expert:
- Global investment expert Jeff D. Opdyke believes that cryptocurrencies are the most inevitable trade and technology of the last 30 years, presenting an excellent buying opportunity due to unlikely future price levels.
- Legal experts emphasize the importance of understanding the legal aspects of blockchain technology and cryptocurrency, as disregarding jurisdictional laws can have severe legal consequences.
- 21Shares' research analyst, Carlos Gonzalez Campo, notes that while cryptocurrency valuations remain an emerging topic seeking consensus, investors can use practical methods for investment."