Coinbase's CEO Takes on SEC Amidst Crypto Industry Turmoil.
TL;DR
On-chain data shows a surge in redemptions of Coinbase's staked ether token following the SEC's lawsuit against the exchange. Since June 6, a total of 39,550 Coinbase Staked Ether (cbETH) worth $75 million have been burned for redemption, while about 9,600 cbETH have been minted during this time, resulting in a net outflow of approximately 29,900 cbETH ($56.8 million). Despite this, Coinbase remains the second-largest entity in terms of staked ether, having staked 2.3 million ether ($4.2 billion) on behalf of its customers. Coinbase's CEO has reaffirmed the exchange's commitment to continuing staking services.
Topics:businesscryptocurrency#coinbase#crypto-exchanges#cryptocurrency#lido-finance#sec-lawsuit#staked-ether
- Redemptions surge for Coinbase's staked ether following SEC lawsuit The Block - Crypto News
- Coinbase CEO Says He'll Fight the SEC for the Crypto Industry | WSJ Wall Street Journal
- Crypto Winter: Maybe Coinbase Should Never Have Gone Public Bloomberg
- SEC Started to Change 'Tone' Last Year: Coinbase CEO Bloomberg Live
- Coinbase CEO says SEC's Gensler is the outlier for refusing to provide guidance, but they still have the courts and Congress Kitco NEWS
Want the full story? Read the original reporting
Read on The Block - Crypto News