• About Us
  • Careers
  • Contact
No Result
View All Result
Tuesday, August 26, 2025
DeFi Planet
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result
Home News Latest News

Coinbase Requests Users To Convert USDT to USDC, Tether CTO Reacts

9 December 2022
in Latest News, News
Reading Time: 3 mins read
105 3
Coinbase Requests Users To Convert USDT to USDC, Tether CTO Reacts

image source: cryptopolitan.com

Coinbase, a cryptocurrency exchange, encouraged its users in an official blog post on December 8 to convert their USDT to USDC. According to Coinbase, USD Coin (USDC) is a reputable stablecoin that offers clients stability and confidence during times of turbulence. 

Coinbase did not explicitly state why it made this decision but claimed that recent events had put some stablecoins to the test and USDC has proved to be a safe haven.

The exchange believes that USD Coin (USDC) is a trustworthy and respected stablecoin. So it is making switching easier by waiving conversion costs for global retail customers converting USDT to USDC. 

Coinbase co-founded USDC in 2018 with the goal of building a more open, global financial system. According to Coinbase, the USDC is unique in that it is entirely backed by cash and short-term US Treasury securities held in US-licensed financial institutions. 

Coinbase is believed to be indirectly attacking Tether (USDT) for its reserve quality, which has slightly depegged amid turbulent market conditions. During the fallout from FTX’s collapse, USDT depegged and traded below $0.95 versus the US dollar. Tether’s reserve quality has also been called into question on numerous occasions. 

According to on-chain data, USDT is the third-most traded digital asset on Coinbase, accounting for 5% of the total trading volume on the crypto exchange. 

Tether’s CTO, Paolo Ardoino, criticized Coinbase’s plan to force users to convert USDT to USDC. He responded to the Coinbase tweet with a cat GIF and vaguely to others who asked if it was personal.

why are they doing this, Paolo?
is it personal?

— fomo_sapiens (@fomo_eREKTus) December 8, 2022

No way…

— Paolo Ardoino 🍐 (@paoloardoino) December 8, 2022

Other Twitter users have also reacted to Coinbase’s decision. Gabor Gubacs, VanEck’s Director of Digital Asset Strategy, stated that Tether, the first stablecoin, is trusted by millions of people worldwide. He went on to say that people in the United States would prefer Tether to USDC.

Tether was the first stablecoin in the world and has been trusted by millions around the world since its inception. In fact if you ask people outside a narrow group in the US they’d pick tether over USDC.

— Gabor Gurbacs (@gaborgurbacs) December 9, 2022

 

If you would like to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, and Instagram.

 “Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

Don't miss out!

Subscribe To Our Newsletter

Receive top education news, lesson ideas, teaching tips and more!
Invalid email address
Give it a try. You can unsubscribe at any time.
Thanks for subscribing!
Share63Tweet40Share11
Marian Romaine

Marian Romaine

Related Posts

source: mexc.com
Crypto

Access Protocol Unveils “Creator Coins” on Solana Amid ACX Rally

26 August 2025
source: crypto.ro
Crypto

World Liberty Financial Unveils USD1 Points Program With Gate.io, Activates WLFI Lockbox Ahead of Token Unlock

26 August 2025
source: longevity.technology
Blockchain

Aubrai Launches as Onchain AI Scientist to Advance Longevity Research

26 August 2025
source: ventures.swisscom.com
Bitcoin

Sequans Launches $200M ATM Equity Program to Bolster Bitcoin Treasury

26 August 2025

Editors Picks

Web3 in 2025: Where We Are, What’s Next, and What the Data Says

Web3 in 2025: Where We Are, What’s Next, and What the Data Says

byOlayinka Sodiq
21 July 2025
0

What Is a Rebase Token and How Does It Work?

What Is a Rebase Token and How Does It Work?

byOlajumoke Oyaleke
28 June 2025
0

What Are DeFi Options Vaults, and How Do They Work?

What Are DeFi Options Vaults, and How Do They Work?

byOlajumoke Oyaleke
26 June 2025
0

What Are Teardrop Attacks in Crypto?

byOlajumoke Oyaleke
17 June 2025
0

What Are Fractional NFTs, and How Do They Work?

What Are Fractional NFTs, and How Do They Work?

byBlessing Lisafi
7 February 2024
0

Read More

Chain of Thoughts

What Happens When AI Gets a Wallet?

What Happens When AI Gets a Wallet?

byOlu Omoyele
31 July 2025
0

...

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

byOlu Omoyele
30 June 2025
0

...

Are Stablecoins Bank Deposits?

Are Stablecoins Bank Deposits?

byOlu Omoyele
31 May 2025
0

...

DAOs and the Coordination of Human Endeavour

DAOs and The Coordination of Human Endeavour

byOlu Omoyele
27 April 2025
0

...

Markets Update

Your Weekend Crypto Roundup | August 2025 (Week 4)

4 days ago

SUI Ecosystem: Price Prediction, Market Dynamics, and Strategic Developments

6 days ago

How Much Ethereum Do Public Companies Actually Own?

7 days ago

Your Weekend Crypto Roundup | August 2025 (Week 3)

1 week ago

Ripple vs. SEC Nears Final Countdown: Will August 15 End Crypto’s Longest Court Battle?

2 weeks ago

Cardano Price Prediction 2025–2030: Decentralized Governance, Technical Upgrades, and Investment Outlook

2 weeks ago
Read More

Events

CBDC Conference
CBDC Conference
9 Sep 25
Nassau

Spotlight

All about Ethereum
All about Algorand
All about Bitcoin
All about Gora

Press Releases

R0AR Chain Launches Public Node Sale Following $1 Million Whitelist Success

bychainwire
26 August 2025
0

NE-YO Partners with Neura to Transform Entertainment with Emotional AI

bychainwire
25 August 2025
0

BitMine Immersion (BMNR) Reigns as the #1 ETH Treasury in the World, 2nd Largest Crypto Treasury Globally and the 20th Most Liquid US Stock, Trading $2.8 Billion per Day on Average

bychainwire
25 August 2025
0

HKGAI and FLock.io Partner to Advance Decentralised AI for Government Efficiency

bychainwire
25 August 2025
0

Ethereum Breaks $4,750 Support As Pepeto Crosses $6,287,248 in Presale Funding

bychainwire
23 August 2025
0

Read More

ADVERTISING

ABOUT

TEAM

CAREERS

CONTACT

TERMS & CONDITIONS

PRIVACY POLICY

© Copyright 2025 DeFi Planet

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.

Add New Playlist

No Result
View All Result
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer

© Copyright 2024 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00