There is a difference between lending assets and staking assets. Of the ones you mentioned, I've only used Gemini and Kraken. Gemini Earn offers similar lendi

There is a difference between lending assets and staking assets. Of the ones you mentioned, I've only used Gemini and Kraken. Gemini Earn offers similar lending products to Coinbase Lend (a % return is given when certain assets are lent) [1][2]. Kraken offers staking services [3], which are technically not "lending", but are staking rewards gained from staking assets in proof of stake protocols such as Ethereum 2.0, Polkadot, Kusama, Cosmos, Cardano, Solana, etc. These staking rewards could also be earned directly from the protocols, if users wanted to stake via their own hardware, but Kraken takes a fee in this case due to reducing the hassle for users to need to do this themselves (and some proof of stake protocols have slashing which means users would lose the coins they have staked if their hardware goes down or their connection is interrupted), so there is some reduction of risk as well for the user in that case. However, this also means the staking power is more centralized at the exchange level, which is a downside, but that is a different part of the discussion. FWIW, Coinbase has staking services as well [4], but Coinbase Lend, which hadn't even launched yet, was going to be something different. It looks like Coinbase was going to achieve that 4% interest on USDC in Lend via Compound [5] (which is a DeFi protocol they actually helped launch a few years ago [6]). Assets can already be lent directly to Compound via users, without Coinbase as an intermediary. Anyway, my point in bringing this up is there is difference between lending assets and staking assets, and actually both lending and staking can be done directly by users, without any of these exchanges as intermediaries. [1] https://www.gemini.com/earn https://www.gemini.com/earn [2] https://www.coinbase.com/lend https://www.coinbase.com/lend [3] https://www.kraken.com/en-us/features/staking-coins https://www.kraken.com/en-us/features/staking-coins [4] https://www.coinbase.com/staking https://www.coinbase.com/staking [5] https://blockworks.co/coinbase-compound-labs-launch-usdc-high-yield-accounts/ https://blockworks.co/coinbase-compound-labs-launch-usdc-hig... [6] https://techcrunch.com/2018/05/16/cryptocurrency-compound-interest/ https://techcrunch.com/2018/05/16/cryptocurrency-compound-in...