Today, the investment division revealed its acquisition of an undisclosed volume of Rocket Pool's native token, RPL, which surged by over 9% in the previous 24 hours.
The exchange's portion of ETH staking declined to 9.7%, reaching its lowest point since May 2021. In June, the company faced a lawsuit from the SEC due to the offering of unregistered securities.
The funding round attracted substantial investments from prominent entities, including Pantera Capital, Binance Labs, Coinbase Ventures, and Apollo Crypto.
Despite being confronted with lawsuits from federal and state regulators, the country's largest exchange remains committed to providing staking services.
The R stablecoin derives its value from a single crypto asset, specifically the staked ether (stETH) provided by Lido, a prominent leader in liquid staking.
The troubled crypto lender has recently placed $745 million worth of ETH into staking contracts within the past 48 hours, further straining the already extensive waiting period for deploying new validators onto the Ethereum network.
If the governance vote is approved, the most recent version of Lido will be launched on the Ethereum blockchain, which is Lido's largest market.
The amount of ether staked has reached a new record high of 19.55 million as deposits for ETH staking exceeded withdrawals.
According to crypto analysts, investors are moving away from centralized exchange giants and opting for decentralized alternatives to stake their ETH holdings due to regulatory concerns and the desire for greater rewards.
By using the daily transaction fees and staking rewards generated by Ethereum, the benchmark incorporates pricing mechanisms that institutional investors typically rely on, thus bringing enhanced pricing capabilities to the realm of digital assets.