Coinbase Controls 11.42% of Staked ETH with 120,000 Validators

Coinbase has unveiled its first Ethereum Validator Performance Report, showcasing its robust staking infrastructure. The report highlights that the platform operates 120,000 validators, securing 3.84 million ETH, which accounts for 11.42% of the total staked Ethereum supply. Additionally, 581,500 ETH is staked through its partner networks.

Reliable Validator Uptime and Zero Slashing

According to the report, Coinbase has maintained an impressive 99.75% validator uptime, surpassing its 99% target while ensuring zero slashing incidents since its staking operations began. The company credits this performance to structural upgrades that allow beacon node maintenance without causing downtime.

Rather than aiming for 99.9% uptime, Coinbase prioritizes security over additional yield opportunities that could introduce slashing risks. The platform’s validator participation rate—measuring the execution of consensus duties—also stood at 99.75% in February 2025. This high participation rate stems from validators successfully proposing blocks through MEV relays and participating in sync committees, which help light clients synchronize with the blockchain.

To further enhance decentralization, Coinbase distributes its validators across five countries—Japan, Singapore, Ireland, Germany, and Hong Kong. It also utilizes two cloud providers, AWS and GCP, ensuring redundancy, regulatory compliance, and risk mitigation. The platform’s validator orchestration system is designed to migrate workloads seamlessly in case of regional or cloud provider outages, minimizing downtime.

Client and Relay Diversification for Secure Staking

Coinbase emphasizes client diversity as part of its staking strategy. Its Ethereum validators run two consensus clients (Lighthouse, Prysm) and two execution clients (Geth, Nethermind), while also monitoring network-wide client distribution to evaluate future implementations.

Relay diversification plays a key role in optimizing staking rewards and reducing centralization risks. Coinbase connects to six MEV relays, including Flashbots MEV-Boost Relay, bloXroute Max Profit Relay, and four non-censoring relays—Ultra-Sound Relay, Agnostic Relay, Aestus MEV-Boost Relay, and Titan Relay. This multi-relay approach enhances redundancy and broadens access to block pools, reinforcing the platform’s commitment to efficient and decentralized staking operations.

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