About Coinbase Wrapped Staked ETH

Coinbase is introducing Coinbase Wrapped Staked ETH (cbETH), a liquid staking token for ETH stakers. This allows users who stake ETH through Coinbase to receive cbETH in return, representing their staked Ether. Coinbase intends for cbETH to be widely used for trading, transferring, and participating in DeFi. By creating cbETH and open-sourcing its smart contracts, Coinbase aims to contribute to the growth and innovation of the crypto ecosystem. cbETH offers several potential use cases: * **Selling Staked ETH:** Convert your staked ETH to cbETH and sell it for cash. * **DeFi Collateral:** Use cbETH as collateral in DeFi protocols to borrow funds while maintaining your ETH staking position. * **Transferring Staked ETH:** Easily transfer your staked ETH to non-custodial wallets by send...