Coinbase News: Exchange Sells Significant Amount of Ethereum Amid Price Surge

Coinbase Sells 12,652 ETH in Q4 – Despite Ethereum Price Jump By 7%

Coinbase, one of the biggest crypto exchanges, reportedly sold 12,652 Ethereum (ETH) in the fourth quarter of 2024, according to Standard Chartered’s Geoffrey Kendrick. This sale, worth about $25 million at today’s prices, has sparked discussions on whether Coinbase is strategically selling ETH for profit rather than holding it long-term. Kendrick analyzed Coinbase’s quarterly reports and found that the exchange holds ETH in different categories, including investment and operational funds. He noted that Coinbase tends to buy when ETH prices are low.

Coinbase Dominates ETH Staking with 11.42% Control, Raising Concerns

Coinbase has become the largest individual Ethereum validator, controlling 11.42% of the total staked ETH. The company now operates 120,000 validators and manages approximately 3.84 million staked Ethereum tokens. Coinbase reported a 99.75% participation rate with zero slashing or double signing, ensuring security for staked assets. This development raises concerns about centralization, even as Coinbase emphasizes transparency and security in its staking operations.