Lido DAO News: The upcoming Ethereum Shanghai upgrade could bring about significant changes in the staking community, given the recent regulatory restrictions on crypto-staking on exchanges. Although it is possible to argue that ETH price would drop if it were not staked, many investors could choose to restake for higher returns. Hence, ETH could be withdrawn from Kraken and assets diverted to Lido DAO.
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Kraken is third in staking pool size, after Coinbase and Lido. It is interesting to note that Lido is also one of the largest liquid staking protocols. This could make it difficult for regulators to crack down on its operations. According to on-chain data Kraken’s Ethereum staking pools account for around 7.42% total ETH staked across platforms. Lido comes in first at 29%, followed by Coinbase with 12%.

These numbers could shift dramatically in favor of Lido after the Shanghai upgrade. The Kraken’s pool will no longer be staked. After the settlement with Kraken, even Coinbase, a central exchange, may not be trusted by traders. Brian Armstrong, Coinbase CEO, was the first to warn that the SEC could place a blanket ban upon staking. Lido is more likely to reap the benefits of the entire situation after the forthcoming Ethereum upgrade.
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