Convert USDT to USDC

coinbase exempted any fee on the conversion of USDT to USDC on its platform. Coinbase also stress that USDC is 100% backed by cash and short-dated US Treasuries held in US regulated financial institutions. Comes a couple of months after Binance another global player cuts support for USDC leading to a drop of three billion dollars in its market cap  the number one crypto exchange in the world now tether issued USDT is the largest stablecoin by market.