Coinbase CEO Would Shutdown ETH Staking Service if Asked to Bend to Regulators
Published on Aug 18, 2022
https://cb.run/aNT7 Coinbase CEO Would Shutdown ETH Staking Service if Asked to Bend to RegulatorsBrian Armstrong – CEO of Coinbase – stated on Thursday that he would refuse to censor the Ethereum blockchain using his platform’s concentrated stake in the protocol. If compelled by the government to do so, he’d rather shut down the service. Armstrong made his intentions clear in response to an Ethereum developer’s question concerning the centralization of staked ETH. According to Dune Analytics, 66% of ETH staked on the beacon chain is held by entities that are regulated by the Office of Foreign Assets Control (OFAC). As such, the developer asked the leaders of some of the larger staking entities...
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