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The Shanghai Upgrade Could Spark Decentralization In Staking As Big Guns Are Forced To Step Back

The recently implemented Shanghai upgrade in the Ethereum blockchain allows validators to access their staked assets and rewards. However, the SEC and CFTC are increasing their scrutiny of the staking arm of digital asset companies, leading to concerns about centralization. Over 30% of staked ETH is facilitated by exchanges, but regulatory actions against Kraken, Coinbase, and Binance regarding their staking activities have raised concerns. Some commentators argue that the SEC's actions are attempting to make staking completely decentralized, where users deal directly with the protocols without staking pools.

The Shanghai upgrade has been well-received in the cryptocurrency space, but concerns over centralization have been raised due to exchanges facilitating over 30% of staked ETH. Some commentators see the SEC's actions as a push towards complete decentralization in staking, where users deal directly with protocols without staking pools.

Ethereum Ethereum $3,119.66
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