what's Coinbase Wrapped Staked ETH?
Coinbase Wrapped Staked ETH (cbETH) is an ERC-20 token on the Ethereum blockchain that represents staked ETH custodied by Coinbase. It allows users to participate in Ethereum staking rewards without locking up their assets, enabling seamless use in decentralized finance (DeFi) protocols, liquidity pools, and other applications that require standard ERC-20 compatibility. When users stake ETH through Coinbase, they receive cbETH in a 1:1 ratio, which accrues staking rewards over time. This wrapped token can be traded, lent, or used as collateral while maintaining exposure to Ethereum's proof-of-stake rewards. Redemption is possible by burning cbETH to unstake the underlying ETH, subject to Coinbase's custody and network conditions. cbETH integrates with the broader Ethereum ecosystem, supporting composability across DeFi platforms. It was introduced to bridge centralized staking services with decentralized applications, providing liquidity and yield opportunities for staked assets.
cbETH/WETH liquidity pool campaign launched on Curve Finance on Base with $56K USDC incentives.
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A cbETH/WETH liquidity pool campaign launched on Curve Finance on Base with $56K USDC in incentives from Gauntlet, planned to run for 8 weeks starting January 5, 2026.
Integration with Cypher card enables spending of cbETH and other major cbAssets on Base for everyday purchases.
Coinbase partners with Chainlink as exclusive bridge provider for $7B in wrapped assets including cbETH, cbBTC, cbDOGE, cbLTC, cbADA, and cbXRP.
Morpho vault on Base provides 27.7% ETH APY through cbETH/WETH markets with automated refinancing across markets curated by Gauntlet, Steakhouse Fi, and Block Analitica.
Axie Infinity treasury proposal AIP-003 allocates 2837 ETH into cbETH, wstETH, and rETH for yield farming while maintaining liquidity on Ronin chain.
Coinbase launches instant unstaking feature for staked ETH, allowing users to bypass up to 38-day wait times by paying a 1% fee on the unstaked amount.
Coinbase launches ETH-backed loans on Base L2, with cbETH support as loan collateral coming soon alongside other future collateral types.
Balancer and forked projects suffer $120M+ exploit across multiple chains involving cbETH pools through invariant manipulation attack on BPT price calculation.
On Arbitrum, $2M drained from cbETH/wstETH/rETH pool, $1.6M from rETH/wETH pool, and $900K from wETH/rETH pool, with losses continuing.
A cbETH boosted strategy on Base offers 18.5% real yield on USDC by combining Aave, Compound, and Coinbase protocols to take advantage of low borrow rates.
ETH/cbETH pair on Base via KyberNetwork FairFlow yields 13% APR, with liquidity mining program offering 500,000 KNC rewards through November 19.
New Equilibria pool offers 23% APY on Base chain with 2.5x vePENDLE boost multiplier.
Coinbase verified pool offers 7% APR, compared to standard 2% yield.
Restaking via Eigenpiexyz platform yields 2.9% APR with additional Eigenpie Points rewards.