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Coinbase Earn is a staking service for people who don't know how or don't want to interact with the blockchain of the particular coin they're staking. Coinbase
by zoklet-enjoyer 4y ago
Coinbase Earn is a staking service for people who don't know how or don't want to interact with the blockchain of the particular coin they're staking. Coinbase stakes the coins for them and takes a cut of the staking rewards. They're not lending assets. Bitcoin isn't included because Bitcoin uses proof of work, not proof of stake
- gamblor956 4y agoAh, it appears I have it backwards. Customer lends coins to CB, which then stakes those coins for them in crypto where staking is a thing. It does not matter if they don't "technically" lend the coins, what matters is that they what they have done has the legal effect of lending the coins to CB. In this case, CB is in a worse position than I originally stated, since essentially all staked crypto is regarded as a security by the SEC. In which case, it's irrelevant that the SEC didn't say which particular crypto is a security; by its guidance all of the coins in CB Earn are.