This is why Self-Custody is important. It reduces chances centralization. Move your ETH to a ledger or Trezor to stop these big exchanges from giving you an IOU as they do what they want with your crypto:

I am not surprised that Coinbase has become one of the top Validators on the new PoS ETH network. They are slowly taking over all PoS networks and ETH was definitely no exception.

They have become top/#1 validator for most other popular PoS networks and ETH was their next Victim. They then charge outrageous commission fees to steal more of your hard earned money:

Cosmos Network – Coinbase surpassed Stakefish to become #1 validator with the largest voting right/voting power for changes the network. They charge a 20% commission and only give you 5% APY of the rewards even though it should be 18% as stated on their Block Explorer. (20%)

Tezos – Coinbase has become too private validator for this LPoS network. They charge a 13.39% commission, one of the highest in the network. They have largest voting power/voting rights for changes to the network. (13.39%)

Solana – Coinbase Cloud is top/#1 validator for the network. They charge an okay commission, closer to what other top validators on the network charge (8%) but still high. They have the largest voting rights/voting power for changes to the network.

Listen when I say this. Coinbase does NOT GIVE A FUCK if your favorite network becomes centralized. They want it to be centralized. They want to become the Amazon of crypto. They want to become the new Federal reserve for the crypto space. They want to be on top and remain #1 and they don’t care who they have to steal from to get up there. They are aggressive and will continue to try and grow aggressively.

Move your crypto to a hardware wallet to keep them from giving you an IOU and making more money off of what should be your money.