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Coinbase Temporarily Suspends ETH Staking Reward Payouts

Coinbase has announced a temporary pause on issuing Ethereum (ETH) staking reward payouts due to an issue with ETH rewards becoming stuck. The exchange is currently investigating the issue and expects to resolve it within 48 to 72 hours. Additionally, a significant number of withdrawals were also stuck in the withdrawal queue, putting pressure on most ETH-staking platforms. Despite the recent Ethereum Shapella upgrade having positive implications for ETH holders, the ability to withdraw staked ETH remains a challenge for some platforms. Coinbase has recently received over 53,400 ETH deposits, with a significant portion coming from its cbETH deposit address.

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