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Coinbase Loses Market Share in Ether Staking as Regulatory Pressure Mounts

Crypto exchange Coinbase has lost market share in the booming ether (ETH) staking business as mounting pressure from U.S. regulators weighs on its staking service. The exchange’s share in ETH staking slipped to 9.7%, the lowest level since May 2021, according to a Dune analytics chart by digital asset investment product-issuer 21Shares. This is a significant drop from the 13.6% recorded on April 12, when Ethereum’s Shanghai upgrade allowed withdrawals for the first time. The downturn happened as the demand for ETH staking – locking up tokens to participate in securing the blockchain while earning a passive income on holdings – was soaring.

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