Welcome to our recap of the major stories in the crypto world! Here’s what has happened over the past week: 

Things are getting worse for Silvergate… 🤦🏻‍♂️

Alarm bells were ringing when this crypto friendly bank announced that it will delay the filing of its annual report.

Once the go-to fiat on-ramp service for many crypto exchanges, Silvergate will now be undergoing a voluntary liquidation.

A voluntary liquidation results in the company selling off all of its assets to pay its debts, and this amounted to a whopping $949 million loss for Silvergate.

This was mainly due to Silvergate’s partnership with FTX, and it had to process huge amounts of withdrawals as customers rushed to get their funds out of this centralised exchange.

Major centralised exchanges now have a headache, with the likes of ByBit having to suspend USD deposits after the winding down of Silvergate.

Are Proof of Reserves really sufficient? 🤔

Centralised exchanges attempted to show greater transparency by releasing Merkle Proof of Reserves.

These attempted to give their customers the confidence that all users’ assets were backed 1:1, so a bank run would not happen.

However, the Public Company Accounting Oversight Board (PCAOB) came out to declare that these reports are “incomplete”, and could even be “misleading and deceptive”.

Currently, some of the Proof of Reserves are incomplete, where they display a few major assets, while the centralised exchange allows you to trade a wide variety of tokens.

For example, KuCoin displays 4 different assets on its Proof of Reserves page: BTC, ETH, USDT and USDC.

Other centralised exchanges like Binance have recently made improvements to their reports, but this only covers 11 tokens.

At Krystal, we strongly believe in the saying: ​​’Not Your Keys, Not Your Crypto’. The only way that you can verify your assets is by taking full custody of it, such as via our Krystal wallet.

Our wallet supports 11 blockchain networks, including Ethereum, Polygon, BNB Smart Chain and Solana.

Download our mobile wallet and obtain full portfolio visibility of your crypto assets and NFTs.

Binance.US handed major victory 🏆

The deal to buy over Voyager’s assets has now been given the go-ahead by the courts.

Customers of this troubled crypto firm had their assets frozen, but they could potentially recover up to three-quarters of their holdings with Voyager.

This deal faced some friction from the ​​Securities and Exchange Commission (SEC), who claimed that redistributing funds from Voyager to Binance.US would violate US securities laws.

However, United States Bankruptcy Judge Michael Wiles rejected these arguments as the SEC seemed to be trying to protect themselves in case the deal went awry.

Goodbye SaaS, say hello to WaaS

After their previous announcement regarding the launch of a new Ethereum Layer-2 scaling solution, Coinbase will now be releasing their Wallet as a Service infrastructure.

This makes it much easier for developers to create crypto wallets for their users, which will help to onboard even more Web2 users to the Web3 world.

You no longer need to worry about securing your seed phrase, as Coinbase secures your wallet using multi-party computation technology (MPC).

Without needing to know much about how a blockchain works, users will still be able use these wallets that provide them with a familiar Web2 experience.

A seed phrase is extremely important to secure your crypto wallet, as it acts as the master password for your funds.

You can find out how to better secure your seed phrase in our article here.

Starbucks NFTs a hit 🎯

After developing their Web3 loyalty program (Odyssey), Starbucks has released its first paid NFTs for its current members.

These NFTs were sold at a price of $100 on the Polygon network, which was quickly sold out in 18 minutes despite some hiccups on the Nifty Gateway platform.

Odyssey marks a success story of a Web2 company trying to get into Web3, as the NFTs have seen significant demand from their customers.

Did you manage to purchase a Siren Collection NFT? Import your wallet to Krystal to view all of your NFTs across 11 networks!

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Welcome to our recap of the major stories in the crypto world! Here’s what has happened over the past week: 

Major stablecoin delisted on Coinbase 

In response to the controversy surrounding the BUSD stablecoin, Coinbase has announced its decision to delist BUSD from its exchange for not meeting its listing standards.

Brian Armstrong, Coinbase’s CEO, later further clarified that delisting was due to liquidity concerns. This comes after BUSD’s issuer, Paxos, was ordered by the New York Department of Financial Services (NYDFS) to stop minting its stablecoin.

Do you still own any BUSD and are looking to swap it for another stablecoin?

Take advantage of Krystal’s SmartSwap Router where we give you the best rates with minimal slippage.

Swap BUSD across multiple networks (Ethereum, BNB Smart Chain, Avalanche or Polygon) on our dashboard, or download our mobile app to try it out!

The latest breakthrough for Ethereum 🎉

Account abstraction was announced during an ETHDenver conference at a WalletCon event.

This could be a game-changer for Ethereum as it offers the capabilities of a smart contract wallet, which could improve the security of your wallet.

Currently, your private keys and seed phrases are the only way of securing your wallet, and if anyone gets hold of it, they will be able to take full control of your funds.

With account abstraction, it is possible for your wallet to be more programmable, and brings about certain unique capabilities such as social recovery.

This means that you could use ‘guardians’ (including your friends’ wallets) to store an encrypted version of your private key for you.

In the event that you lose your private key, you can get these guardians to approve the recovery of your wallet for you.

While this may still take a while before it gets implemented on various wallets, you may want to learn a bit more about how to keep your seed phrase secure in our article here.

LaunchZone hacked

This DeFi protocol on the BNB Smart Chain was exploited, where more than 80% of its liquidity pool was drained by a hacker.

This led to a huge crash in the price of LZ, LaunchZone’s native token.

PeckShield, a blockchain security and data analytics company, mentioned that this was due to a malicious smart contract that drained funds from users’ wallets.

One of the victims of this smart contract exploit was a user who owned 9.88 million worth of LZ tokens.

Token approvals can be rather dangerous, especially if you mistakenly approved a malicious smart contract.

This usually happens when you unknowingly click on a phishing website, and then approve the smart contract on the site to interact with the funds in your wallet.

The smart contract is malicious in nature, and will drain any tokens you have in your wallet!

A best practice would be to revoke any smart contracts you no longer interact with, and you can check out Krystal’s Token Approval tool to revoke access to these contracts.

You can revoke any smart contract you’ve previously approved across 10 supported EVM-compatible networks.

Do note that each transaction will cost some gas fees, so don’t forget to have enough of the native tokens to pay for each transaction!

Silvergate has lost its shine

Once the darling of Wall Street, the crypto-friendly bank Silvergate is in quite a crisis.

Silvergate announced that it would delay the filing of its annual report, where it mentioned that it was uncertain about its “ability to comply with the heightened regulatory scrutiny of banking institutions that provide products and services to the digital asset industry”.

FTX was one of the major customers of Silvergate, and after its crash, this resulted in around $150 million of the bank’s deposits being held by customers who had filed for bankruptcy protection.

In light of this news, many major crypto companies like Circle have started to distance themselves from Silvergate.

Things are rather uncertain now and it remains to be seen if any crypto assets are under the custody of Silvergate.

Liquid Staking reaches a new milestone

The popularity of earning staking rewards while still having access to your crypto has shot up, such that it has now become the second-largest crypto market sector.

The total value of crypto assets that are locked in liquid staking was $14.1 billion, which is $0.4 billion more than the total amount in crypto lending and staking.

Meanwhile, decentralised exchanges still maintain the top spot at around $19.4 billion.

At Krystal, we give you the best of both worlds where you can either choose to lend or stake your funds with reputable partners like Ankr, Lido, Aave, Venus and Compound.

Take advantage of the best yields for your assets and earn passive income while you sleep. Try it out now on our dashboard or download our mobile app!

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Welcome to our recap of the major stories in the crypto world! Here’s what has happened over the past week: 

Huge news for Hong Kong 🇭🇰

A brand new crypto hub could be just around the corner, as Hong Kong is looking to lift the ban on retail trading of cryptocurrencies.

Crypto exchanges that provide services to Hong Kong citizens would require to be licensed, and Huobi is one of the exchanges that have indicated its interest.

Moreover, this initiative seems to have received support from China, which will help to reduce friction in its implementation.

Hong Kong has also set aside $50 million HKD (US$6.4 million) to build a Web3 ecosystem in the country,

While this brings positive news about the greater retail adoption of crypto, there are concerns that the West is losing its dominance in this new sector.

The US and the SEC have experienced a lot of barriers to regulating the cryptocurrency industry, and Asia could be the one to look out for.

Tencent Cloud announces major partnerships 🤝

Another major development in Asia came with Tencent Cloud’s Web3 Build Day, where they are now collaborating with some of the big names in crypto.

This includes a Memorandum of Understanding with Ankr, to develop a suite of blockchain API services, as well as other blockchain networks like Avalanche, Scroll and Sui.

Scroll is an up-and-coming zero-knowledge Ethereum Virtual Machine (zkEVM), and you can find out why zkEVMs could be the next big thing in our article here.

Ankr has been on a tear recently with it announcing a partnership with Microsoft to integrate its blockchain infrastructure with Microsoft’s cloud solutions.

Ankr provides a wide array of services, and we have partnered with them to offer their liquid staking services directly on our platform.

Stake BNB, AVAX, ETH, MATIC and FTM and use the ankr-tokens on various decentralised applications to earn even more yield!

End of the algorithmic stablecoin? ❌

The current state of stablecoins seems to be rather murky.

The issuer of the BUSD stablecoin, Paxos, was ordered to halt the issuance of any new BUSD last week, which severely impacted the third-largest stablecoin.

Meanwhile, the algorithmic stablecoin FRAX has just passed a proposal to become fully collateralised, instead of being partially backed by an algorithm.

Algorithmic stablecoins are no longer popular as they used to be ever since the crash of Terra, and most of them have slowly changed course or been deprecated.

USDD has switched to become an over-collateralised stablecoin, while others like USN have winded down after being unable to maintain its peg due to a shortfall in its collateral.

Interestingly enough, the Cardano-based algorithmic stablecoin, DJED, was recently launched and it’ll be interesting to see how it fares compared to all of its competitors.

Are NBA Top Shot NFTs really securities? 🤔

The SEC has been coming down hard on certain crypto projects that they believe to be securities, and even recently fined Kraken for providing staking services for these cryptocurrencies.

It seems that NFTs may be next on the target board, where Dapper Labs is facing a lawsuit against its NFT collection, NBA Top Shot Moments.

A judge in Manhattan rejected Dapper Labs’ bid to dismiss this lawsuit which alleged that the NBA Top Shot NFTs are securities.

One of the reasons behind this allegation was that these NFTs operated on the Flow blockchain, which could be considered a private network as compared to other public blockchain networks like Bitcoin.

Based on this definition, it could suggest that the court does not view all NFTs as securities, particularly those sold on public blockchains like Ethereum or Polygon.

Do you want a comprehensive overview of every NFT you own? Download the Krystal app and import your wallet to view every NFT you own across 11 blockchain networks.

Brand new Layer 2 launches 🚀

Not wanting to miss the party, Coinbase has announced its Layer 2 solution on Ethereum, Base.

Base is an Ethereum Layer 2 that is powered by Optimism’s OP Stack, and scaled by Coinbase.

The aim of this network is to be an easy-to-use network so that its customers can get used to crypto networks.

There are many protocols and projects that have partnered with Coinbase to build up the ecosystem, including the likes of Aave, Balancer and Etherscan.

Optimism is one of the top Layer 2s on Ethereum, which offers lower fees due to its rollup technology.

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Welcome to our recap of the major stories in the crypto world! Here’s what has happened over the past week: 

Paxos ordered to halt stablecoin minting 🛑

Just last week, Paxos, the issuer of BUSD, USDP and PAXG, was reported to be investigated by the New York State Department of Financial Services (NYDFS).

Paxos was then ordered to halt the minting of the BUSD stablecoin.

Although BUSD has Binance’s name on it, Paxos is actually the issuer of this stablecoin on the Ethereum network, and holds all of the reserves that back BUSD.

However, the BUSD is available on other networks, including EVM-compatible ones like BNB Smart Chain, Avalanche, Polygon, as well as non-EVM-compatible networks like Tron and the BNB Beacon Chain.

For these BUSD tokens that exist on other chains, Binance acts as the issuer for them as Binance-pegged BUSD.

This is done where Binance acts as the custodian of the BUSD minted on the Ethereum chain by Paxos, and they will wrap these BUSD on the other networks.

A previous report by Bloomberg suggested that there were not enough reserves to back the circulating supply of Binance-pegged BUSD, which was claimed to be due to a timing mismatch by Binance.

This could be the reason why the NYDFS is going after BUSD.

The entire saga has resulted in BUSD’s market decreasing by more than $2 billion.

Attack on crypto staking ⚔️

The concerns over the SEC coming after crypto staking were indeed true, as it was announced that Kraken will be settling a lawsuit for $30 million over providing staking services to US retail customers.

After previously claiming that ETH could be considered a security when it transitions to a proof-of-stake consensus mechanism, the SEC is going against companies like Kraken that offer these staking services.

The SEC claims that Kraken promoted its staking service without disclosing the appropriate risks that are tied to this.

As a centralised exchange, Kraken has full control over your funds and you would need to trust that they are keeping your assets safe.

However, trust in these entities is rather low after the crash of FTX, and the SEC is taking a harsher stance towards the remaining exchanges, such as claiming that staking-as-a-service providers should be regulated under securities laws.

Brian Armstrong, the CEO of Coinbase, has refuted this and seems willing to go to court if the SEC files a lawsuit against them.

With the concern over staking services provided by centralised entities, you may want to consider decentralised solutions instead.

At Krystal, we have partnered with 2 liquid staking providers, Lido and Ankr to provide multiple liquid staking options for ETH, MATIC, BNB, AVAX and FTM.

Liquid staking allows you to earn yield on your staked assets, and use it on other DeFi protocols as well!

Try it here NOW.

The zkEVM race continues 🏁

Various companies are rushing to be the first to release a working zero-knowledge Ethereum Virtual Machine (zkEVM).

zkSync has rebranded its zkSync 2.0 to zkSync Era∎.

This includes various milestones for the network, such as introducing a fair launch for projects to onboard, and open-sourcing its code.

Once developers have deployed their code to the zkSync mainnet, it’s only a matter of time before the network is made available to the public.

Meanwhile, Polygon has made significant strides with its own zkEVM, as the beta main network is set to go live on March 27.

One of the key takeaways from the announcement is that Polygon’s zkEVM has brought down the cost of generating a proof for a large batch of transactions to ~ $0.06.

This will make transacting on Polygon much cheaper, with its low gas fees already being one of the main drivers of the network’s growth.

Krystal’s wallet allows you to store both cryptocurrencies and NFTs on the Polygon network. If you’re looking for a simple, secure and trusted way of navigating the DeFi space, download our Krystal app below!

This law protects your private keys 🛡

The state of Wyoming has passed an interesting bill which prevents individuals from being forced to reveal their private keys to the court.

However, the only exception to this law is when either the public key is unavailable, or it is unable to disclose the details of the digital asset.

Wyoming has been known to be a rather crypto-friendly state, and this law helps to further progress its crypto policies.

Private keys act as the password to your crypto wallet, and anyone who has access to it can sign and approve any transaction, including draining the funds from your wallet!

We highly recommend that you do not share your private keys with anyone, as this gives that person full access to all of your funds.

Metamask phishing scam ⚠️

Namecheap, a web hosting company, had one of its third-party services compromised and resulted in unauthorized emails being sent to its customers.

This resulted in a targeted attack on Metamask users, where the hackers sent a fake email to users requesting for Know-Your-Customer (KYC) verification.

Even though the site looked credible with the URL “verification.metamask.io”, it was actually a phishing site that tricked users into keying in their seed phrase.

Decentralised, non-custodial wallets like Metamask or Krystal never require you to perform any KYC verification. Your wallet exists on the blockchain, and it is not controlled by any central entity.

We urge you to be extremely cautious whenever a site requests for your seed phrase, especially if it is a URL that you clicked from an external site (e.g. email, Twitter or Telegram message).

Remember, your seed phrase is the master password for your wallet, so you will be giving up control of your funds to the hacker!

You can learn more about why a seed phrase is so important in our article here.

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Welcome to our recap of the major stories in the crypto world! Here’s what has happened over the past week: 

More bullish signals by Visa? 💳

Visa has continued its positive outlook on cryptocurrencies, as they announced that they are testing how to accept settlement payments from issuers in USDC on the Ethereum network.

Cuy Sheffield, Visa’s head of crypto, wants to use the blockchain to move money faster, especially since the current SWIFT network has its limitations.

Payment giants like Visa are still looking for ways to innovate in the cryptocurrency sector, which could spur greater retail adoption if it is successful.

No crypto ads in this mega sports event 🏉

After a slew of crypto ads flooded last year’s Super Bowl championship, there will be no crypto ads appearing in the Super Bowl LVII.

The crypto market has taken a huge toll, and with major exchanges pulling out of various sponsorship deals, spending massive amounts of money on ads may not be that effective in acquiring new users this time.

Crypto aids in earthquake relief 🙌

Our thoughts are with those who are affected by the earthquake in Syria and Turkey.

Amidst the crisis, cryptocurrencies have been used as an alternative method to send donations to the affected countries.

Turkish rock star Haluk Levent, who is the founder of the charity organisation AHBAP, created a BEP20 wallet address to receive donations for the earthquake victims.

A long list of crypto companies has shown solidarity by donating funds to the victims.

Some companies like Huobi will be donating $2 million Lira.

Meanwhile, Binance has donated $100 worth of BNB to all users who were affected by the earthquake.

New Lido competitor? 🚀

Another ETH liquid staking provider, Rocket Pool, has seen a steady rise in total value locked (TVL) in its protocol, and has just surpassed the $1 billion TVL milestone.

However, this comes at a time of uncertainty as the Securities and Exchange Commission (SEC) may be looking to ban retail investors from staking their cryptocurrencies.

Coinbase also provides liquid staking services, and their liquid staking derivative, cbETH, has the second-highest total value locked behind Lido.

This could provide greater traction for decentralised alternatives like Rocket Pool or Lido.

At Krystal, we have partnered with 2 liquid staking providers, Lido and Ankr to provide multiple liquid staking options.

This will be a great way to earn more with your staked ETH via yield farming or depositing it as collateral for a loan.

3AC’s new exchange goes live 📈

With the name GTX drawing some backlash, the new exchange by the founders of 3AC and CoinFLEX will now be known as Open Exchange (OPNX).

This new exchange acts as a marketplace to trade crypto bankruptcy claims.

For example, if you have a claim against one of the centralised platforms that went bankrupt, such as Celsius or FTX, you could sell this on the marketplace.

A buyer would then give you cash to own this claim against the platform.

It is estimated that there is around $20 billion in this market of claimants who are looking to get back their funds, with 3AC being included in these claims too.

It remains to be seen how popular this new platform will be, especially since trust in the 3AC founders is at an all-time low.

Recently, Kyle Davies, the co-founder of 3AC, has been alleged of ignoring any requests made by the liquidators as they are seeking a resolution for the funds that are stuck with 3AC.

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Welcome to our recap of the major stories in the crypto world! Here’s what has happened over the past week: 

More regulation breakthroughs 🥊

New crypto regulations have been established, with the latest news from the UK government looking to regulate both crypto trading and lending.

Moreover, Hong Kong has released a new proposal to regulate stablecoins.

One glaring omission is algorithmic stablecoins, as Hong Kong requires all regulated stablecoins to have enough assets in their reserves to back up the circulating supply of the stablecoin.

Meanwhile, Montenegro seems to be partnering with Ripple to launch a central bank digital currency (CBDC).

This is rather interesting as Montenegro still uses the Euro as its national currency, even though it is not an EU member.

Twitter’s new licence applications spark hope for DOGE 🐕

As Elon Musk plans to achieve his vision of building a super app, Twitter is applying for multiple regulatory approvals to integrate payments into the app.

There has been heavy speculation that DOGE could be one of the cryptocurrencies that are being used for payments on Twitter, which has led to a huge pump in its price.

You can find out how Elon’s takeover may have certain implications on crypto here.

However, Twitter may soon have a competitor in the form of Damus, a decentralised social networking app built on Nostr.

The application was recently listed on the Apple App Store after receiving 3 rejections.

Damus utilises a decentralised network for messaging which is uncensored, and has also integrated the Bitcoin Lightning network for payments within the app.

New ‘algorithmic’ stablecoin launches 🚀

The Cardano network has been boosted after the launch of the new decentralised stablecoin, DJED. 

This stablecoin is issued by COTI, in partnership with the Cardano foundation. While algorithmic stablecoins have received a bad reputation after the crash of Terra, COTI is trying to distance itself from it by branding DJED as an overcollateralised stablecoin.

There are 3 different tokens that are involved in maintaining DJED’s peg to the US dollar:

1. DJED stablecoin
2. ADA (deposited to mint DJED)
3. SHEN (reserve coin that provides extra liquidity)

DJED aims to maintain an overcollateralisation ratio between 400 – 800% for DJED and SHEN.

This interesting strategy of maintaining the peg will be heavily scrutinised, particularly since multiple stablecoins like UST and USN have failed.

Celsius examiner report released 📝

An independent report has been published regarding the bankruptcy filing of Celsius by bankruptcy examiner Shoba Pillay.

A lot of interesting findings have surfaced, including how Celsius used customer deposits to meet withdrawal requests.

Moreover, Tether was caught in the crossfire after it was alleged that they had borrowed funds from Celsius, amounting to more than $2 billion.

However, this was later refuted by Tether’s CTO, Paolo Ardoino, where he mentioned that it was Celsius who borrowed funds from Tether, and not the other way around.

The collapse of Celsius was rather remarkable, and you can find out what are the main lessons we can learn from this crash in our article here.

A third blockchain for BNB? 👀

The BNB Chain is expanding yet again, with the new BNB Greenfield chain.

Greenfield is a decentralised storage system that uses smart contract integrations for Web3 applications, that allows users to create, store and exchange data with full ownership.

This blockchain is mainly targeted at Web 2.0 developers and large user bases, as it aims to allow users to have greater control over their data.

BNB is now the native token of 3 different blockchains. You can find out the differences between the BNB Smart Chain and Beacon Chain in our article here.

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Welcome to our recap of the major stories in the crypto world! Here’s what has happened over the past week: 

Visa’s still bullish 🎯

Al Kelly, the outgoing CEO of payments network Visa, has stated that stablecoins and Central Bank Digital Currencies (CBDCs) “have the potential to play a meaningful role in the payments space”.

This supports Visa’s positive outlook on cryptocurrencies, as they have the potential to digitise cash that is being spent by consumers.

Apart from CBDCs and stablecoins, Visa has also explored setting autopayments on a self-custodial wallet, as well as multiple crypto debit cards like Crypto.com and Huobi.

Many countries are interested in creating their own version of a CBDC, with Saudi Arabia announcing that it will be launching a CBDC experiment.

1inch launches hardware wallet 🔒

The hardware wallet industry is getting a new competitor, with 1inch being the latest to release its own.

Hardware wallets are considered more secure than hot wallets like Metamask or Trust Wallet, where the seed phrase is generated offline.

For hot wallets, the seed phrase is generated when the wallet is connected to the internet, which exposes it to a lot of risks such as keyloggers.

Other companies have taken an interest in this industry, with Binance recently investing in Ngrave.

If you’re still wondering why a seed phrase is so important, you can check out our article here.

More hacks this week… 🖥

There have been quite a few crypto security threats that happened this week.

The Robinhood Twitter account was taken over by hackers, who promoted a fake announcement that an RBH token was launched.

However, this was not the case as Robinhood has not launched a token yet.

Fortunately, only 10 people seemed to have fallen for the scam before the links were taken down.

Meanwhile, Kevin Rose, the co-founder of the Moonbirds NFT collection, fell prey to a phishing scam which resulted in $1.1 million worth of NFTs being stolen.

The hack seemed to have been due to Kevin being tricked into signing a signature that approved the transfer of his NFT assets.

With crypto hacks becoming more and more common, we cannot stress the importance of being careful of what links you click, or any transactions you approve.

As you are in full control of your funds, it is best to remain vigilant and be cautious if anything is too good to be true!

Largest DEX On The BNB Smart Chain? 🚀

A new proposal has given the green light for Uniswap to be deployed on the BNB Smart Chain.

Uniswap has already been deployed on multiple EVM-compatible networks, including Ethereum, Polygon, Optimism, Arbitrum and Celo.

They already boast the largest trading volume of any decentralised exchange at $1.31 billion (compared to Curve in second place at $294 million).

With the deployment to the 3rd largest smart contract chain by Total Value Locked (TVL), this could increase their trading volumes even further.

Looking for a self-custodial wallet to store assets from EVM-compatible networks (including Ethereum, BSC, Polygon) and Solana? Download the Krystal mobile app to find out more!

Shanghai Upgrade reaches first shadow fork 🔧

Following the previous announcement that the Shanghai Upgrade is set to be launched in March 2023, Ethereum’s developers have released the shadow fork.

Shadow forks are used to test and finalise code before they are implemented on the public mainnet.

With Ethereum now transitioning to a Proof-of-Stake consensus mechanism, this has allowed ETH owners to stake ETH and earn staking rewards.

Withdrawals of staked ETH have been disabled thus far, but the Shanghai Upgrade will now allow users to unstake and claim their staking rewards.

If you’re looking to do even more with your staked ETH, we’ve partnered with both Ankr and Lido to provide multiple liquid staking options.

This will be a great way for you to earn more with your staked ETH via yield farming or depositing it as collateral for a loan.

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