Coinbase Offers ETH Staking For U.S. Institutional Clients. This new ETH staking offers a way for U.S. financial institutes to finally join the crypto space.
The New ETH Staking Option
On Monday, the popular crypto exchange Coinbase announced through a blog post that they are now adding Ethereum staking options in Coinbase Prime for their U.S domestic institutional clients.
This new product on the platforms offers institutes in the U.S that have been interested to join the Web3 and Crypto space to finally take part by staking ETH. Clients can now create a crypto wallet, selecting the amount that they wish to stake, and begin staking.
— Coinbase Institutional (@CoinbaseInsto) August 1, 2022
Aside from ETH, the platform also offers institutes to stake for other tokens, including Solana, Cosmos, Polkadot, Tezos, and Celo. The Coinbase team also explains that institutes who stake with Coinbase will have their funds highly secured, with the withdrawal keys being stored in the Coinbase cold storage custody vault to ensure maximum safety.
Coinbase’s Busy Month
This past month however, has not been the best for Coinbase or their reputation. Not long ago, a former Coinbase manager was arrested on allegations of insider-trading while working for the exchange. Aside from that, the exchange was also investigated by the SEC for allegedly including securities on their exchange.
Aside from that, the crypto exchange also received quite a lot of criticism after releasing the first part of their BAYC-starring animation film, one which many in the community called “cringey” and a “waste of their funds.”