Coinbase CEO Brian Armstrong Announces: “This Industry Could Be Banned!”

Brian Armstrong, CEO of Coinbasein the USA staking He said he had heard rumors about a possible ban on his providers.

Ethereum Liquid Staking Tokens Rise amid SEC Ban Rumors for Staking Providers

Coinbase CEO Brian Armstrong tweeted that he had heard rumors that the U.S. Securities and Exchange Commission wants to ban individual investors from staking cryptocurrencies.

Liquid staking refers to the exchange of staked Ether for tokenized versions of Ether that can be used in decentralized finance (DeFi) applications.

Uses range from using these tokens as collateral for loans or margin trading to generating returns.

According to the report of Staked, a non-custodial staking service provider, the value of assets staked in the fourth quarter of 2022 was approximately $42 billion, with annual staking rewards of $3 billion.

Rumors next month on Ethereum It precedes the highly anticipated Shanghai upgrade, which will allow investors to withdraw staked ethers on the Ethereum blockchain.

Because staked Ethereum cannot be withdrawn or freely traded at this time.

*Not investment advice.

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