$COIN just announced this amazing news for $ETH stakers:
5/ If you’d like to unstake, Coinbase will begin taking unstaking requests about 24 hours after the upgrade completes. All unstaking requests are processed on-chain, and we’ll pass the unstaked funds and staking rewards to you once released by the Ethereum protocol.
— Coinbase (@coinbase) March 15, 2023
But if you think all that staked ETH can be taken out, well, prepare to be disappointed. 😖
The big-wigs of Ethereum recently placed limits on full withdrawals post-Shanghai for 18 months, according to recent reports. The restrictions come in response to what Ethereum claims are “increased risk” concerns. In practical terms, these restrictions mean that Ethereum users in Shanghai cannot withdraw their entire balances from the platform for the next year and a half.
While the move is likely to frustrate some users, it is worth noting that the restrictions only apply to full withdrawals. Users will still be able to make partial withdrawals from their accounts during the 18-month period. Additionally, Ethereum has stated that it will be working to improve security measures during this time, which may help to alleviate some concerns.
The move comes as part of a broader effort by Ethereum to enhance security and reduce risk on its platform. In recent months, the company has been working to implement a range of new security features, including two-factor authentication and improved password protections. These efforts are aimed at making the platform more secure and reducing the risk of fraud and other forms of criminal activity.
We’ll keep you updated as this story develops.
According to ethereum.org, the network upgrade is expected to occur in the first half of 2023. We’ll keep you updated as this story continues to develop. ✍️