Anchorage Digital Announces Institutional Ethereum Staking

Anchorage Digital, a company that stores cryptocurrency, today announced the debut of an Ethereum staking service for institutions. Through this service, these organizations will be able to receive benefits associated with the second-largest digital asset by market cap. Diogo Mónica, co-founder and president of Anchorage Digital, said in a statement, “By paving the way for institutions to stake their Ethereum, we’re providing heightened legitimacy to market-tested assets—and in the process, eliminating any hot wallet risks for institutions looking to generate new earnings from crypto,” Institutions can now stake #ETH with @Anchorage. Learn what institutions need to know about the ETH upgrades, why they should stake ETH & how they can collect rewards through Anchorage. Read more here ⬇️: https://t.co/0TkwoGjXHV — Anchorage Digital (@Anchorage) June 28, 2022 Anchorage Digital Plans to Secure Their Funds Anchorage Digital plans to hold institutional clients’ cryptocurrency in cold storage to secure their funds. It includes banks, venture capital firms, and even governments. In contrast to hot storage, which occurs when a digital asset is kept on an online wallet, this is when it keeps offline. Staking is the consensus technique used by Proof-of-Stake (PoS) blockchains. This is when users of blockchains lock up cryptocurrency in exchange for the blockchain’s native coin, which is used to validate transactions. PoS is distinct from...