Kraken set to unstake more than $1 billion worth of ETH after | CryptoExplorer ✪

Kraken set to unstake more than $1 billion worth of ETH after Shapella upgrade
U.S. crypto exchange Kraken has initiated withdrawal requests for their stakes following the Shapella upgrade that introduced ether (ETH) withdrawals. The upgrade has resulted in a massive influx of withdrawal requests, surpassing $1.5 billion, including both partial and full exits. Kraken provides a staking service that streamlined the Ethereum staking process, allowing users to deposit into the platform and create validators on their behalf. This development follows Kraken’s settlement of charges brought by the Securities and Exchange Commission for allegedly failing to register the offer and sale of its staking program in the U.S. Kraken agreed to pay a $30 million fine. Read more