Earnings from Ethereum, Solana and Cardano staking show uneven growth for Coinbase
– Coinbase prioritized development of its staking products and has a long-term goal of becoming the top provider.
– When comparing the first nine months of 2022 to the same period last year, Coinbase earned $213 million from blockchain rewards, up from $120 million in the first three quarters of 2021.
– However, in the past month, Coinbase has actually dropped and now represents 14% of staked Ethereum.
– Coinbase’s Ethereum staking business faces another potential challenge: When CEO Brian Armstrong was asked if he’d censor transactions on the Ethereum network or get out of the ETH staking, he said he’d rather shut it down.
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