Nostr

So Kraken evidently emailed their customers and said they are going to “unstake their ETH” and put it back in their account.

Is that even possible?

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no. it stays in limbo. it can be unstaked but not withdrawn

Not until that next ‘upgrade’ comes on line and good luck with that shitshow.

My god!

They didn’t even have code to unstake written by the beginning of Q4 of last year.

I don’t think there is much popcorn left, I’m afraid.

Maybe they replace clients’ ETH with their own while waiting for the upgrade to come in place?

Any info on the motivation behind this?

Kraken finally decided they don’t want their clients to get shanghaied. But is it too late?

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If they swap customer eth with unstaked eth on paper, then keep the staked eth for themselves, then yes.

💯

Paper Eth.

If it was all made up in the first place, I guess the world is your oyster

Hopefully these Kracken customers realise how lucky they are to escape the upcoming rug pull and transfer all that useless eth into bitcoin.

They'll take over the ownership of the stake and give people eth.

And just like that, ETH got even more centralised.

They never staked it in the first place. Why would they?

And the silver lining with the ordinals shitshow is that bitcoin is getting even more decentralised.

Maybe insiders have the un-stake code!!