Kraken is leading the second wave of full-staked Ethereum (ETH) withdrawals, according to Nansen’s dashboard.

Nansen’s data journalist Martin Lee said the U.S.-based crypto exchange has withdrawn over 330,000 ETH. Lee added that “another 175,000 in ETH left, which is largely principal withdrawals.”

Since withdrawals were enabled, Kraken has led the table of entities withdrawing assets from the beacon chain. The exchange’s high withdrawal rate is influenced by the regulatory pressure from the U.S. Securities and Exchange Commission (SEC). The exchange paid a $30 million fine for failing to register its staking services with the regulator.

Despite its withdrawals, Kraken is still one of the largest depositors on the Beacon Chain. The exchange still has around 935,488 ETH staked as of press time.

(by Oluwapelumi Adejumo)