Coinbase has been making headlines a lot lately, and this is a trend that seems to continue. Check out the latest news involving the crypto exchange below.
Coinbase added Ethereum staking altcoin to listing roadmap
It’s been just revealed that the exchange has added the altcoin Liquid Staked Ethereum (LSETH) to its listing roadmap.
Liquid Staked ETH is a new “receipt token” investors receive when they stake their Ethereum (ETH) with the Liquid Collective – just in case you don’t know, this is a liquid staking protocol.
The Liquid Collective notes its staking method differs from traditional staking, where users lock up their tokens.
“Whereas traditional methods of staking are subject to bonding and unbonding periods (ranging from days to weeks), liquid staking provides stakers with increased liquidity and capital efficiency. Token holders stake their token and receive a receipt token as evidence of their ownership of their staked token. The receipt token can be transferred, stored, traded, and utilized in DeFi [decentralized finance] or supported DApps [decentralized applications].”
It’s also very important to note the fact that Coinbase created the listing roadmap last year to increase transparency and reduce the possibility of front-running their listing announcements.
Coinbase CEO Brian Armstrong said the exchange aims to list as many crypto assets as possible. This will reportedly be happening as long as they meet the company’s standards.
“It’s kind of like Amazon or something like that where a product might have three stars or it might have five stars, but if it starts to get one star consistently, it’s probably fraudulent or defective or something and maybe Amazon will remove it. Otherwise, you want to let the market decide what these things are.”
The crypto market looks good this weekend, and investors and traders are hoping for the best in the future as well.