The digital bank aims to tap into $190-billion Ethereum's market cap as the network moves from PoW to PoS protocol.
The digital bank aims to tap into $190-billion Ethereum’s market cap as the network moves from PoW to PoS protocol.The development comes only days before the much-anticipated Merge that will transition the second-highest valued blockchain network to Proof of Stake from the Proof of Work mechanism of transaction validation., with September 15 being referred to as the most probable date.
Coinbase CEO Brian Armstrong last month said if his platform is forced by the US authorities to censor transactions, he would ratherAccording to Dune Analytics, 66% of ETH staked on the beacon chain is held by entities that are regulated by the US Office of Foreign Assets Control .According to investment bank JP Morgan analysts, Coinbase, which accounts for 15% of Ethereum’s market share, will
greatly from the Merge. FTX, Gemini, and Binance will also profit from Ethereum’s transition to ETH2.the Coinbase Wrapped Staked ETH token, a liquid representation of staked ETH, for its customers who would participate in ETH staking.
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