Coinbase's CEO Takes on SEC Amidst Crypto Industry Turmoil.
TL;DR Summary
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.
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- 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
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