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Coinbase Expands Crypto Staking to New York After Years of Regulatory Delays
New York Opens Staking for Ethereum, Solana and Five Other Cryptocurrencies
TL;DR
- Coinbase launched crypto staking in New York on October 8, 2025, expanding its service to 46 states.
- New Yorkers can stake Ethereum, Solana, Cosmos, Cardano, Avalanche, Polygon and Polkadot.
- Staking yields range from about 1.9% APY for Ethereum to more than 16% for Cosmos.
- The expansion follows the dismissal of the SEC's case against Coinbase earlier in 2025.
- Coinbase launched in-app DEX trading for U.S. customers outside New York one day later.
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Coinbase has opened crypto staking to New York residents after years of regulatory restrictions in one of the toughest U.S. markets for digital assets.
The exchange announced the expansion on October 8, 2025, increasing its staking coverage from 45 to 46 states.
New York users can now stake seven cryptocurrencies directly through Coinbase, with advertised yields ranging from about 1.9% to more than 16% annual percentage yield.
The move follows major regulatory changes surrounding Coinbase's staking business and restores access for New Yorkers who had previously been excluded from the company's staking program.
Which Cryptocurrencies Can New Yorkers Stake on Coinbase?
Coinbase opened staking in New York for seven cryptocurrencies:
Returns vary by asset.
Cosmos offered the highest yield at more than 16% APY, while Ethereum staking returned about 1.9% APY.
Coinbase credited New York Gov. Kathy Hochul's administration for its “leadership in embracing progress and providing clarity.”
Brian Armstrong Welcomes New York Staking Approval
Coinbase CEO Brian Armstrong described the decision as “progress in NY.”
He also used the announcement to repeat Coinbase's position that staking services should not be treated as securities.
“Glad to see progress in NY,” Armstrong wrote. “Staking services aren’t securities — hope all other states stuck in the past can drop their lawsuits and catch up soon … Happy staking, New Yorkers!”
His comments reflected the broader regulatory fight over whether some crypto staking services fall under securities laws.
That dispute had been central to Coinbase's conflict with federal and state regulators.
SEC Case Had Challenged Coinbase Staking
The U.S. Securities and Exchange Commission's lawsuit against Coinbase had included allegations involving the exchange's staking program.
The SEC argued that Coinbase offered unregistered securities and also alleged that the exchange facilitated trading in at least 13 tokens it considered securities.
The case was dismissed in February 2025, removing a major federal legal challenge as Coinbase continued expanding its crypto products.
New York had remained one of the major markets where Coinbase staking was unavailable.
Its October approval therefore marked an important expansion for the exchange's U.S. staking business.
Coinbase Reaches 46 States With Staking
Before the New York launch, Coinbase staking was available in 45 states.
The addition of New York brought that number to 46.
Coinbase said New York residents had missed staking rewards available to users elsewhere in the country.
Chief Legal Officer Paul Grewal said residents had:
“lost out on millions of dollars of staking rewards available to others”
He added:
“it ends today.”
The expansion leaves four states where Coinbase staking remains unavailable:
- California
- New Jersey
- Maryland
- Wisconsin
That gives Coinbase staking coverage across nearly the entire United States.
New York's Crypto Regulatory Landscape Is Changing
The staking launch came during a leadership transition at the New York Department of Financial Services.
Adrienne Harris, who served four years as superintendent, had recently announced her resignation.
During her tenure, NYDFS pursued several enforcement actions and settlements involving cryptocurrency companies.
That included a $100 million settlement with Coinbase in 2023 over compliance weaknesses involving transaction monitoring and reporting.
Coinbase did not disclose whether additional terms were negotiated as part of restoring staking access in New York.
The timing nevertheless placed the launch alongside broader changes in the state's approach to crypto oversight.
Staking Gains Wider Institutional Acceptance
Coinbase's New York expansion also came as staking gained traction elsewhere in the U.S. digital-asset market.
Grayscale had recently introduced staking features for its Ethereum and Solana exchange-traded products.
The development added another example of staking being incorporated into regulated crypto investment products and services.
For Coinbase, New York's approval strengthened its position as a U.S.-regulated exchange offering retail staking access across most states.
It also showed how the regulatory environment surrounding staking was evolving after years of disputes between crypto companies and authorities.
Why Crypto Staking Matters
Staking allows holders of certain proof-of-stake cryptocurrencies to commit assets to a blockchain network and receive rewards.
For users, the potential attraction is earning a return on crypto holdings without selling them.
Available yields can vary significantly based on the blockchain, network conditions and the staking provider.
In Coinbase's New York offering, for example:
- Ethereum offered around 1.9% APY
- Cosmos offered more than 16% APY
Higher advertised yields do not eliminate the risks associated with holding or staking cryptocurrencies. Token prices can fluctuate independently of staking rewards.
Coinbase Launches DEX Trading One Day Later
Coinbase expanded another crypto product on October 9, 2025, one day after announcing New York staking.
The exchange launched decentralized exchange trading inside its app for U.S. users, excluding New York.
Coinbase had first teased the feature in August.
The DEX integration allows customers to trade some tokens that are not yet listed through Coinbase's traditional centralized exchange.
Liquidity is provided through integrations involving 1inch and 0x, allowing users to make non-custodial swaps.
The initial offering includes Base-native tokens from projects such as:
- Virtuals AI Agents
- Super Champs
The launch extends Coinbase's product strategy beyond assets formally listed on its centralized exchange.
Coinbase Trading Volume Reaches $237 Billion
The new products arrived as Coinbase's trading activity showed a modest year-over-year increase.
Trading volume reached $237 billion in Q2 2025, compared with $226 billion in Q2 2024.
The staking and DEX expansions give Coinbase additional ways to serve U.S. crypto users beyond conventional spot trading.
New York, however, remained excluded from the October 9 DEX rollout even after becoming eligible for staking.
What Coinbase Staking in New York Means
Coinbase's New York staking launch removes one of the largest remaining geographic restrictions on its U.S. staking service.
Residents can now stake seven cryptocurrencies, including Ethereum and Solana, while Coinbase's overall staking footprint has expanded to 46 states.
The development also reflects the changing regulatory environment around staking after Coinbase spent years challenging restrictions at both the federal and state levels.
At the same time, restrictions have not disappeared entirely. Coinbase staking remains unavailable in four states, and its newly launched DEX service excludes New York.
Still, the October expansion represents a significant change for one of the country's most tightly regulated crypto markets and gives New York users access to staking products already available across most of the United States.
