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The three big “staking” exchanges – Coinbase , Kraken, & Binance – now account for 19% of all Tezos that are currently staking
All 3 of the exchanges have become the largest validators that offer staking services on the Tezos network
Independent, non-custodial services such as Cryptium Labs have experienced diminishing rewards over the past two quarters while exchanges have experienced high growth for their services.
Footnotes
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