Overview

• New Yorkers can now stake Ethereum, Solana, Cosmos, Cardano, Avalanche, Polygon, and Polkadot on Coinbase, with estimated yields ranging from about 1.9% APY on ETH to over 16% on Cosmos.
• Coinbase says staking is now available in 46 states, with access still restricted in California, New Jersey, Maryland, and Wisconsin.
• Neither Coinbase nor the New York Department of Financial Services provided details on the timing or terms of any arrangement enabling the launch.
• The move follows the recent resignation of NY crypto regulator Adrienne Harris, who in 2023 secured a $100 million compliance settlement with Coinbase.
• Coinbase cites the dismissal of state cases in South Carolina, Alabama, Kentucky, and Illinois, and estimates residents in several restricting states have missed about $130 million in staking rewards.