The completion of the Shanghai upgrade on the Ethereum network may prompt some centralized entities to exit. Validators who secured the network with over 18 million ETH can now initiate withdrawals, with options for partial withdrawals to leave at least 32 ETH deposited or full withdrawals to pull everything off the network.

Crypto exchange Huobi, decentralized exchange PieDAO, decentralized finance protocol Staked. us, and crypto exchange Kraken were among the entities in line to make withdrawals, with Kraken looking to fully exit as a network validator. In February, the company agreed to stop offering staking products to U.S. customers as part of its $30 million settlement with the SEC.