Ethereum Merge Vastly Increased Stakefish’s Profile, but 25% of Its Employees Are Gone Anyway

Ethereum’s switch from a proof-of-work to a proof-of-stake system handed the reins of the second-largest blockchain from miners to validators that “stake” ether (ETH), Ethereum’s native currency, by sending it to an address on the chain where it cannot be bought or sold. Stakefish, which sets up interest-earning validators on behalf of its customers, controlled around 2% of all staked ETH at press time. It is also a major validator in other ecosystems, including Cosmos, Polkadot, Polygon and Solana.