Feb 22, 2023
Coinbase Staking Services “Fundamentally Different” from Kraken’s
Coinbase’s staking services are significantly different to those offered by its peer exchange Kraken, according to Paul Grewal, Coinbase’s chief legal officer. Grewal made the comments on February 21 during a Q&A session on the exchange’s fourth-quarter results.
Grewal highlighted the key differences between the two services. Firstly, Coinbase users retain ownership of their cryptocurrencies at all times. In its user agreement, Coinbase states that it merely facilitates the staking of assets on behalf of its customers, and may not replace any Ether (ETH) lost to slashing.
The second difference is customers have a “right to the return”, with Coinbase unable to “simply just decide not to pay any returns at all”. Grewal suggested that the exchange’s registration as a publicly-traded company was another critical point of difference, which enables customers to have “deep transparent insight into our financials”.
In comparison, the Securities and Exchange Commission’s complaint against Kraken alleged its users lost control of their tokens by offering them to Kraken’s staking program, and investors were offered “outsized returns untethered to any economic realities” with Kraken also able to pay “no returns at all”.
Grewal called for regulatory clarity on staking services in the U.S., noting that the public shouldn’t have to parse complaints in federal court in order to understand what a regulator expects.
Coinbase is currently under investigation by the SEC which could result in a similar settlement as Kraken. Coinbase CEO and co-founder Brian Armstrong has indicated the company would be willing to challenge the regulator and take the matter to court.
In the web3 space, NFTs have become increasingly popular, resulting in a surge of interest from both consumers and businesses. To capitalize on this trend, many companies are turning to NFT marketing and promotion services to help them reach a wider audience and generate more sales.
One such service is Twitter NFT marketing, which involves creating engaging content and campaigns that are specifically tailored to the Twitter platform. This can include creating custom hashtags, running giveaways, and leveraging influencers to increase brand visibility.
NFT marketing agencies are also becoming more popular, as they provide a comprehensive suite of services that can help companies maximize their NFT sales. These services include creating NFT campaigns, designing and optimizing NFTs, and helping companies develop a comprehensive NFT marketing strategy.
Finally, web3 agencies are popping up to offer specialized services to companies looking to sell NFTs. These agencies provide a range of services, from helping companies create an NFT marketplace to providing comprehensive NFT marketing services. They also offer support with the technical aspects of launching an NFT, such as setting up wallets and smart contracts.
Overall, the web3 space is rapidly evolving, and companies looking to capitalize on the NFT craze need to be aware of the various services available to them. From Twitter NFT marketing to web3 agencies, there are a range of services that can help companies create successful NFT campaigns and maximize their sales.
Disclaimer: All investment or financial opinions expressed by MoonLanding Media are not recommendations and are intended for entertainment purposes only. Do your own research prior to making any kind of investment. This article has been generated based on trending topics, has not been fact checked and may contain incorrect information. Please verify all information before relying on it.
