What you need to know about staked ether, the token at the center of crypto's liquidity crisis

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What you need to know about staked ether, the token at the center of crypto's liquidity crisis

Quick Summary

Staked ether is supposed to be worth the same as ether, but it's trading at a widening discount right now.Here's what's going on.

Staked ether, or stETH, is a token that's supposed to be worth the same as ether.

Public blockchain records show that 3AC has been actively selling its stETH holdings, and 3AC co-founder Zhu Su has previously said his firm is considering asset sales and a rescue by another firm to avoid collapse.3AC was not available to comment when contacted by CNBC.

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Author / Journalist:

Category: MarketsFinanceInvesting

Topics: Articles Finance Source:tagname:CNBC Europe Source Ethereum/USD Coin Metrics Cryptocurrency Crypto Bitcoin Cnbc FinTech Technology Internet Bitcoin/USD Coin Metrics Markets

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-20, 08:08:54

News Timezone: GMT -5:00

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Language: English

Reading Time: 7 minutes read

Article Length: 1133 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 1237

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