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Coinbase Users Converts Over $5 Bn USDC To Fiat In 24Hrs

The U.S. Securities and Exchange Commission (SEC) crackdown against crypto staking has caused panic in the crypto market. In the last 24 hours, Coinbase users have converted nearly $5 billion of Circle’s USD Coin (USDC) stablecoin to fiat due to panic caused by actions of US regulators.

Moreover, a potential Operation Choke Point-type action coordinated by multiple U.S. government agencies is likely under a plan to cut ties between the crypto industry and the banking sector.

(By Varinder Singh)

Coinbase tokenized stock FTX Coinbase tokenized stock FTX $87.77
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