Coinbase Wins New York Approval, Unlocks $130M Staking Opportunity
Coinbase has launched staking in New York, a big win for the company and a sign that broader US regulation is coming.
Quick overview
- Coinbase has launched staking services in New York, marking a significant regulatory milestone for the company.
- New Yorkers can now stake cryptocurrencies like Ethereum and Solana, gaining access to financial opportunities previously unavailable in the state.
- Coinbase estimates that users in several restrictive states have missed out on over $130 million in staking rewards due to local bans.
- The company is also expanding its services and partnerships, positioning itself as a leader in the evolving digital asset landscape.
Coinbase has launched staking in New York, a big win for the company and a sign that broader US regulation is coming. This follows full approval from state regulators, announced October 8 by Paul Grewal, Coinbase’s Chief Legal Officer.
New York residents can now stake leading cryptocurrencies like Ethereum (ETH) and Solana (SOL) directly on the Coinbase platform. Grewal credits the Governor Kathy Hochul’s administration for providing regulatory clarity that allows equal access to staking that’s been available in most other states for years.
“Now New Yorkers can have the same financial inclusion as millions of Americans.”
$130M in Missed Rewards
Coinbase’s New York approval highlights the growing divide between progressive and restrictive US states. According to Coinbase data, users in California, New Jersey, Maryland and Wisconsin have missed out on over $130M in staking rewards due to state-level bans.
🚀 #Coinbase Launches Staking in New York After State Approval, $ETH and $SOL Yields Now Available#Coinbase activates $ETH and $SOL staking in New York after state approval, as users in four other states miss $130M in rewards from ongoing bans. #crypto
— CryptOpus (@ImCryptOpus) October 8, 2025
This is the real economic impact of regulatory delays on households and investors. Grewal says staking services, when done transparently, are not securities offerings—a position supported by recent SEC staff guidance.
Several states—Vermont, Illinois, Kentucky, Alabama and South Carolina—have dropped their cases against Coinbase this year, so we’re seeing a trend towards national regulation.
Key Points:
- New York is the latest major market to approve staking.
- SEC guidance supports staking-as-a-service models when operated transparently.
- Coinbase estimates $130M in missed rewards from holdout states.
Coinbase Gains Momentum Beyond Trading
This comes as Coinbase is on a roll. The company just applied for a National Trust Company Charter to deepen its connection between traditional finance and digital assets.
And a new partnership embeds Coinbase tools into the Samsung Wallet so its services are available to over 75 million Galaxy users in the US.
Institutional investors are taking notice. Rothschild & Co just upgraded Coinbase stock to “Buy” with a $417 price target, citing the company’s shift towards diversified revenue streams like staking, USDC income and its Base network.
With this momentum, Coinbase is rebranding itself—from a crypto exchange to a compliance-forward financial innovator driving the next phase of digital asset adoption.
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