Kraken operates staking across a broad set of networks with a clean record and commission in the 15–20% range — expensive against a professional operator, noticeably cheaper than Coinbase's retail tier.
The 2023 US shutdown
The SEC took the position that Kraken's staking-as-a-service programme constituted an unregistered securities offering. Kraken settled, paid a penalty and closed the programme for US clients, returning staked assets. Coinbase, facing similar arguments, litigated instead. The episode is the clearest illustration of a risk specific to custodial staking: a regulator can end the product, and your position ends with it.
Operations and coverage
Support spans Ethereum, Solana, Polkadot, Cosmos chains and others in eligible regions, with no client losses from slashing on record. Rewards are distributed regularly and the interface is straightforward.
The economics
At 15–20% commission you keep roughly 80–85% of network rewards against 90% or more at a professional operator, and you take on exchange custody risk to do so. For small balances the convenience premium is defensible; for larger positions it is not.
Who should use it
Existing Kraken customers in supported regions staking modest amounts. Larger stakers should use a dedicated operator or a liquid staking protocol, and hold the underlying assets in self-custody.