Market News

US Crypto Exchange Coinbase Navigates Staking Challenges While Expanding Token Listings

Coinbase is actively striving to restore crypto staking rights across the US, targeting an estimated $90 million in lost rewards for users in four states.

On social media, the exchange highlighted that California, New Jersey, Maryland, and Wisconsin continue to restrict crypto staking options, despite a significant shift in regulatory attitudes.

Since June 2023, users in these states have missed out on millions of dollars in rewards due to these barriers, emphasizing the impact of limited access.

Coinbase has reported that no assets have been lost by users staking through its platform, signaling its commitment to user protection.

In a positive turn, five states have officially withdrawn their lawsuits against Coinbase, reflecting a growing regulatory alignment in the crypto space.

Meanwhile, Coinbase has also announced the upcoming listing of ZORA, a new social media altcoin, which indicates its intent to enhance user engagement with diverse crypto assets.

ZORA is part of a layer-2 protocol on Ethereum, designed to facilitate content tokenization and trading, currently priced around $0.022.

This addition comes as Coinbase's stock rises, benefitting from a recent Bitcoin rally alongside other crypto-related companies.

Despite these advancements, the FBI has reported a significant increase in crypto scams, warning investors to exercise caution in this evolving market.

As stakeholders navigate these developments, the future of crypto in the US appears both promising and fraught with challenges.