
Kraken's $80 fee gap: instant USDC conversion costs 5x the order-book route
A new report shows converting $10,000 of USDC to euros on Kraken costs $100 on the instant button but $20 through the order book — an 80-basis-point gap few users notice.
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A new report shows converting $10,000 of USDC to euros on Kraken costs $100 on the instant button but $20 through the order book — an 80-basis-point gap few users notice.

Circle says 59 cents of every dollar it earned in the first half went to USDC distribution partners, pushing back on rivals offering bigger cuts — while its biggest partner, Coinbase, backs the competition.

Firelight's onchain protection activated October 15 for Kraken's Protected Strategies USDC pool: $30.5 million registered, capped at $100,000 per wallet.