Coinbase Will List cbETH, Which Stands for Pledged ETH and Pledged Interest
Coinbase will support Coinbase Wrapped Staked ETH (cbETH) on the Ethereum network, cbETH price does not track ETH price 1:1, cbETH represents the pledged ETH plus all its accrued pledge interest, the conversion rate from cbETH and when the balance is initialized (June 16, 2022 19:34 UTC). Coinbase currently supports cbETH deposits, and trading will begin on or after 9AM PT on August 25, 2022 if liquidity conditions are met. Once a sufficient supply of the asset has been established, trading for the CBETH-USD pair will start in stages. It is reported that Coinbase Wrapped Staked ETH (cbETH) is a utility token representing ETH2, which is ETH pledged by Coinbase. cbETH can be sold or sent off-platform, while ETH2 will remain locked until a future protocol upgrade.
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