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Ether staking tops $85B, US banks fighting for BTC custody slice, and more: Hodler’s Digest, Feb. 11–17

Getting High on Ether

Well, would you look at that? Ether staking just hit a whopping $85 billion! Clearly, someone’s been busy in the DeFi kitchen. And here’s your average Joe still trying to figure out how to pronounce “Ethereum.” So for all you non-tech savvy folks, ‘staking’ is basically like “mining” — but without the actual, y’know, work. You deposit or ‘stake’ your tokens and blam! You earn additional tokens as thanks for strengthening the network. It’s the crypto-equivalent of your money making money while you sleep — which is just epic.

US Banks: “We Need A Piece of the Crypto Pie”

Meanwhile, in the land of the free, financial institutions are waving their pitchforks at the SEC for some crypto-action. Banks are essentially demanding that the Antiquated Securities Law — or whatever grand-sounding nomenclature they’ve assigned to it — be updated to enable them to serve as custodians for digital assets. Essentially, they want to legally babysit your Bitcoins and Ethers — for a fee, of course. Profits are up for grabs and the Eggo doesn’t want to be left in the toaster too long!