Did you know Coinbase pockets up to 35% of your staking income?

Edit: A lot of you are saying this is known and this is done because Coinbase is a business. I know this. The post is not arguing that staking as a service is bad. I’m explaining that Brian Armstrong is creating an “Us” vs the SEC narrative, when in reality he only cares about his business. Not “us”.

Brian Armstrong, the CEO of Coinbase seems to be particularly upset about the situation with Kraken. I can tell you right now, he is more concerned with the potential loss in revenue than improving the Crypto space.

Coinbase pockets up to 35% through their staking program.

Coinbase Staking Fees

Brian Armstrong wants you to stake with Coinbase, since it is obviously a large source of "free" revenue for them.

If Brian Armstrong wanted to improve the crypto space, he would make it easy to stake coins that you have in your custody or give information on how to take custody of your coins and stake them yourself.

It is very easy to stake your own coins and does not take much time to learn. You will eliminate the risk of exchange bankruptcy and earn more yield on your coins.

I understand this is a convenience for most, but it is more beneficial for the crypto space if people took custody of their own coins and staked them themselves.