Coinbase Launches 4% Rewards Program For USDC, Despite SEC Regulatory Challenges
Portfolio Pulse from Murtuza Merchant
Coinbase Global Inc (NASDAQ:COIN) has launched a 4% rewards program for USD Coin (CRYPTO: USDC) despite ongoing scrutiny from the U.S. Securities and Exchange Commission (SEC). The program aims to encourage users to expand their funds and explore the cryptocurrency ecosystem.
June 16, 2023 | 3:54 pm
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Coinbase launches a 4% rewards program for USDC, potentially attracting more users and increasing trading volume despite SEC scrutiny.
The launch of the 4% rewards program for USDC may attract more users to Coinbase, increasing trading volume and revenue. However, the ongoing SEC scrutiny could pose regulatory challenges and impact the company's reputation. Overall, the potential benefits of the rewards program outweigh the risks, leading to a positive short-term impact on COIN's stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100