Coinbase News: Coinbase Emerges as the Largest Ethereum Node Operator with Significant Stake in the Network

In a significant development for the Ethereum network, Coinbase has emerged as the largest node operator, controlling a substantial portion of the Proof of Stake (PoS) network. Here’s a closer look at the implications of this move.

Coinbase Becomes The Largest Ethereum Node Operator

Ethereum is advancing with Proof of Stake (PoS), and Coinbase controls a significant part of the network with 11.42% of staked ETH, amounting to nearly $6.8 billion. This makes Coinbase the largest node operator, with 120,000 validators working round-the-clock to secure Ethereum, boasting a participation rate of 99.75%. While this is good news for stability, it also raises concerns about the potential for a future monopoly.

Coinbase Outlines Regulatory Roadmap for SEC

Coinbase has put forward a regulatory blueprint for digital assets, urging the US Securities and Exchange Commission (SEC) to establish clearer guidelines. The proposal follows a request from SEC Commissioner Hester Peirce for input on regulatory clarity and aligns with efforts to create a well-defined framework for the crypto industry. Coinbase’s recommendations focus on four CORE elements essential for a well-functioning digital asset market, emphasizing the need for a clear taxonomy distinguishing digital commodities from securities.