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Coinbase allows users to cancel their ETH pledge following Shanghai upgrade

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Coinbase allows users to cancel their ETH pledge following Shanghai upgrade

According to reports, Coinbase stated on Twitter that around 24 hours after Shanghai Capella upgraded to the Ethereum network, Coinbase will begin accepting requests to cancel the pledge, which will allow users to cancel the pledge of ETH. However, this does not mean that users will be able to immediately cancel the pledge of their ETH. Because Coinbase said, “The Ethereum agreement controls the process of canceling the pledge, and we are just pipelines. We cannot share the exact waiting time when you request to cancel the pledge.” Coinbase currently provides a 6.0% mortgage ETH annual return.

Coinbase: The request for cancellation of pledge will begin to be accepted 24 hours after the Shanghai Capella update

Analysis based on this information:


Coinbase, one of the leading cryptocurrency exchanges, has announced on Twitter that it will allow users to cancel their pledge of ETH following Shanghai Capella’s upgrade to the Ethereum network. However, Coinbase advises that users should not expect an immediate cancellation of their pledge as it is controlled by the Ethereum agreement process, and they are only intermediaries in the process.

The Ethereum network is a blockchain-based platform that enables developers to build decentralized applications. The upgrade to the Ethereum network is regarded as an important development for the entire cryptocurrency ecosystem. It’s no surprise that Coinbase is basing its pledge cancellation policy on this upgrade as it will enable the platform to offer more features and benefits to its users.

The pledge of ETH means that users deposit their ETH as collateral to earn interest. Coinbase currently offers a 6.0% mortgage ETH annual return. By pledging ETH, users can earn interest on their ETH while still holding onto their assets. However, some users may want to cancel their pledge of ETH, whether it be due to a change in their financial situation or other reasons.

The announcement by Coinbase indicates that it is committed to offering its users a great user experience by allowing them to have control over their assets. The decision to allow users to cancel their pledge of ETH also shows that Coinbase is listening to the needs of its users and is willing to take necessary steps to address their concerns.

In conclusion, Coinbase’s announcement regarding the cancellation of ETH pledges is a significant development in the cryptocurrency sector. The move demonstrates Coinbase’s commitment to providing its users with the best possible experience and showing that it is responsive to user needs. If you are a Coinbase user who has pledged ETH, you can now request to cancel the pledge, but prepare to be patient as it will depend on the Ethereum agreement process.

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