Coinbase Slashes USDC Stablecoin Rewards by Almost 90% – June 4

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$9,617

Bitcoin price has ranged in the mid $9,000s today, as price appears to find some stability following its fake-out earlier this week.

Top-20 altcoins appear to have appreciated the stability, as Ethereum rises 2.5%, XRP gains 1%, and Cardano continues its pump with a rise of yet another 10%.

Top Stories for June 4, 2020 🔥

👉 Coinbase Slashes USDC Stablecoin Rewards by Almost 90%

America’s top cryptocurrency exchange, Coinbase, has cut its rewards for users’ USDC stablecoin holdings, by almost 90%.

Prior to the interest rate cut, USDC holders on the exchange were earning 1.25% annually on their balances, now just a unimpressive 0.15% per year.

The USDC rewards service was launched in October 2019, with US customers receiving interest pay-outs on a monthly basis.

👉 Numerai Successfully Completes $3M Token Sale

Crypto-based investments project Numerai has successfully completed a sale of an additional $3 million of its NMR tokens, with Union Square Ventures leading the round.

Numerai is based on a real-life hedge fund, which is attempting to leverage market predictions on the blockchain. Their flagship dApp, Erasure, is the 17th-largest dApp on Ethereum, with $2.1 million worth of crypto currently active in the protocol.

👉 Bittrex and Poloniex Tied Up in Tether-Focused Lawsuit

Bittrex and Poloniex have found themselves as part of a class-action lawsuit focused primarily on Tether and their USDT stabletoken, relating to the 2017 bull market.

The lawsuit alleges that both exchanges played a role in Tether’s scheme – which involved the issuance of USDT tokens out of thin air – saying that Bittrex and Poloniex coordinated large buy orders to manipulate markets.