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Coinbase Launches High Yield USDC Accounts With 4% APY

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Coinbase, the largest exchange in terms of crypto reserves held, has announced the introduction of a savings program tied to usd coin. The company’s high yield USDC savings program allows customers to gain 4% APY interest on stablecoin accounts. Coinbase Reveals USDC Savings Program With Interest Rates Eight-Times Higher the national average The cryptocurrency exchange Coinbase announced pre-enrollment for its usd coin (USDC) savings program that allows clients to earn a 4% APY interest rate on USDC held on the platform. Coinbase joins firms like Blockfi and Crypto.com that already offer interest on USDC stablecoin holdings. Still, Coinbase highlights in its announcement on Tuesday, that 4% APY on USDC is “more than 8x the national average of high-yield savings accounts.” “Everyone wants to get the best interest rate available for the assets they hold,” Coinbase explained in a statement. “But interest rates have decreased steadily over the past few decades, making it difficult to...
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St. Louis Fed’s James Bullard Would ‘Support Starting the Taper in November’ to React to Inflation

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St. Louis Federal Reserve president James Bullard told the press on Tuesday that he thinks the U.S. central bank needs to wind down the buying of $80 billion worth of monthly bond purchases. Bullard says he would support tapering starting as early as November, in order to “react to possible upside risks to inflation next year.” St. Louis Fed President Has Been ‘Advocating Trying to Get Finished With the Taper Process’ On Tuesday, Bitcoin.com News reported on the rising concerns over inflation as the Federal Reserve’s latest Survey of Consumer Expectations (SCE) report explained U.S. households believe inflation will be higher a year from now. It’s been more than 20 months since the U.S. central bank started its massive quantitative easing (QE) programs to combat the disastrous economic consequences of government-ordered lockdowns and supply chain shutdowns. *BULLARD: CONCERNED THAT INFLATION RISKS ARE TO THE UPSIDE Oh rly? — zerohedge (@zerohedge) October 4, 2021 The govern...
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Asset Managers UBS, Pimco, T. Rowe Price Caution of Cryptocurrency Investing, Expect Strict Regulations

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A number of asset managers have cautioned about investing in cryptocurrencies, including UBS Wealth Management, Pimco, T. Rowe Price, and Glenmede Investment Management. “We expect more stringent policy and regulatory controls ahead for crypto as it becomes more mainstream,” said UBS. Asset Managers Caution of Crypto Investing A number of asset managers have expressed caution on cryptocurrency after the recent price swings, including UBS Wealth Management, Pimco, T. Rowe Price, and Glenmede Investment Management, the Financial Times reported Monday. UBS Wealth Management explained that the price volatility that followed the Tesla bitcoin announcement “highlights risks companies face if they take on crypto balance sheet exposure.” The bank added: We expect more stringent policy and regulatory controls ahead for crypto as it becomes more mainstream. Last week, Bitcoin News reported that UBS, the largest bank in Switzerland, was exploring offering cryptocurrency services to its ...
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