ALERT: Coinbase PAUSES Ethereum Crypto Staking Withdrawals!

So much crypto news to talk about smash The like button and let me clue you in Ethereum scaling solution optimism has a Major Bedrock upgrade set for June 6th Mark your calendars this much needed Upgrade will provide a number of Improvements across the network and come At a time when competition in the layer 2 space has been heating up layer 2 Scaling solution optimism is set to Undergo a highly anticipated Bedrock Upgrade on June 6th the move is expected To result in significantly reduced Transaction fees provide greater network Security and enhanced compatibility with Ethereum a trifecta of Awesomeness the Optimism team stated via a May 15th Twitter thread that the network would be Down for two to four hours on June 6th As the upgrade goes through quote on Upgrade day transactions deposits and Withdrawals will be unavailable for the Duration of the downtime Bedrock was Announced back in May 22 22 it marks the First major Network upgrade that was Voted through by optimism's government's Council token house optimism is slated To benefit from lower transaction fees Which op Labs the Network's protocol Development unit estimates wild drop by 47 47 percent reduction in fees quote Bedrock improves on its predecessor by Reducing transaction fees by optimizing Batch compression and ethereum as a data

Availability layer shortening delays of Including L1 transactions in Roll-Ups by Handling L1 reorbs more gracefully the Optimism Community Bedrock explainer Reads very exciting and this author is Correct competition in the layer 2 space Has been heating up daily activity on Starknet is starting to gain significant Traction with over one hundred thousand Users up 157 percent over the past 30 Days and 200 000 plus transactions each Day here it is for context arbitrum and Optimism most recently had 150k and 75k Daily active users respectively Ripple News the Ripple CEO is going after U.S Regulators again this time accusing U.S Regulators on Twitter of hypocrisy Ripple CEO Brad garlinghouse did not Hold back on Twitter in criticizing the U.S Securities and Exchange Commission For its hypocrisy in public statements About the crypto industry garlinghouse Tweeted a meme from the office where a Character looks befuddled in response While adding a pointed message to the SEC on Tuesday this is that pointed Message towards the SEC it comes in Response to coinbase basically calling Out the SEC the SEC told the court that Rulemaking may take many years and there Is no rush so the SEC is in no rush to Provide good Clarity and Brad Garlinghouse tweeted out a picture of Dwight from the office and has a problem

With this he says Ah the hypocrisy to be An unelected bureaucrat where you can Procrastinate on your bully pulpit at All times every week a new video or Speech and then say no one should rely On your statements as Guidance the Ripple versus SEC case is going to come To terms with some sort of resolution Soon I'm sure subscribe to the channel Will continue to keep you informed with This ethereum demand for ethereum Staking soars despite nearly a Month-long waiting period to stake your Eat at this point this is interesting Since the implementation of the Shanghai Upgrade to the ethereum mainnet just Over one month ago which allowed Ethereum validators this is what you Call the ethereum stakers ethereum Validators to withdraw all or some of Their staked eth was the Shanghai Upgrade you can now withdraw the tokens From the staking smart contract for the First time since that demand for Ethereum staking has soared now According to when merge.com the waiting Period for an eth owner to enter the Ethereum network as a new validator has Surged to 27 days and seven hours so if You want to Val if you want to create an Ethereum validator so you can start Staking your eat you do that and it Could take you up to 27 days for you to Finally get to the threshold where you

Can start staking with 50 000 Prospective validators current in the Queue ether owners can set up as Network Validators and earn a yield of about Four to five percent annually via token Staking this is accurate about five Percent each staking has been available On the beacon chain since December of 2020 but staking withdrawals were only Enabled at last month's upgrade the Addition of withdrawal flexibility to Ethereum staking reduces its risks in The eyes of many investors who may have Been deterred from staking their Ethereum tokens prior to the Implementation of withdrawals for fear That their funds would be locked up for A prohibitively long period of time the Surge in the number of validators Queuing up to join the network comes Hand in hand with the surge in number of Eth tokens being entered into staking Smart contracts as of Monday the number Of staked eth tokens hit 21 million up Around 3.5 million in one month since The Shanghai upgrade as per glass node Data and speaking of ethereum staking This is q serious coinbase pauses Ethereum staking reward withdrawals for Up to three days so just the reward Withdrawals has been paused the popular Exchange says the problem is unrelated To recent regulatory saber rattling over Staking coinbase the largest crypto

Exchange in the U.S temporarily paused Payouts of eth staking rewards on Tuesday citing a minor technical issue While the exchange promised that user Rewards are still being earned and will Be paid out the company says the issue Might take up to three days to fully Resolve so perhaps this is resolved by The time you watch this video within the Next three days it will get resolved Perhaps it's because so many people are Choosing to stake ethereum perhaps Because this is a new feature Everybody's got to get used to we'll see A new ethereum city has popped up with Longevity at its heart the ethereum Founder vitalik's mini city concept Brings longevity together with Discussions on crypto Network states and And new cities overlooking a picturesque Bay on Montenegro is the place in the World the mysterious town of zuzalu is Built as a first of its kind pop-up City Community a month or two experiment that Brings together a couple of hundred Like-minded individuals with common Interests in living longer and healthier Lives and building self-sustaining Communities the brainchild of ethereum Founder vitalik buterin many are saying That this town in Montenegro will become The El Salvador equivalent for ethereum What do you think the interesting thing Is I think that it sort of reminded me a

Bit of that the energy there was a Little bit like what I think the Earliest days of bitcoiners in El Salvador was and I think the montenegrin People are very big eth Believers like I I got stuck in pagorica which was the Capital for a day and there are like eth ATMs everywhere throughout the capital So it's actually interesting it's kind Of like the DOT I wouldn't be surprised If Montenegro becomes like the Doppelganger the eth El Salvador in in Like yeah apparently vitalik has a uh Honorary Montenegro and passport and There's sort of a movement with this new Uh pm to develop Montenegro into more of A sort of digital Nomad new destination Maybe a charter City a location within Europe cool Interesting okay what what is an actual What is a day in a Montenegro pop-up City social experiment look like like You wake up what do you actually do well It's a little surreal too because you're At this sort of private Resort setup so It's it's very not representative of What I assume the average day is like There's no real town it's like a little Food desert kind of thing Um but you know there's a schedule so There's people giving talks through most Of the day there's a workshop there's People doing exercise classes people Doing kind of breath work stuff there's

A party tonight that I'm missing but There's you know sort of stuff like that And you can run your own Workshop you Can contribute to the the schedule you Can do a cooking class whatever so it's Sort of summer camp like uh in that way Too That that's sort of The Burning Man in The daytime okay that's a that's a very Good way to put it actually with real Bathroom so not not port-a-potties That's it for me today my friends Subscribe to the channel see you Tomorrow

Coinbase
OUR TAKE

Coinbase is a popular cryptocurrency exchange. It makes it easy to buy, sell, and exchange cryptocurrencies like Bitcoin. Coinbase also has a brokerage service that makes it easy to buy Bitcoin as easily as buying stocks through an online broker. However, Coinbase can be expensive due to the fees it charges and its poor customer service.

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