Coinbase Wrapped Staked ETH
Best for independently tracked protocol
How it rates
- TVL of $356m recorded independently
- No audit report linked in the public dataset at this check
- No accounting methodology published at this check
- Single-chain deployment
Each indicator scores 2, 1 or 0. A pillar is the points earned over the points available; the overall score is the weighted sum. Every source below is public — check any of them yourself.
- Not metIndependent audit report linked publicly
No audit report linked in the public dataset at this check.
defillama.com/protocol/coinbase-wrapped-staked-eth - Not met
- MetTracked by an independent analytics platform
Listed with published TVL and history.
defillama.com/protocol/coinbase-wrapped-staked-eth - Not metAccounting methodology published in the dataset
No methodology published at this check.
defillama.com/protocol/coinbase-wrapped-staked-eth - PartialApplication reachable at a public address
Published at a documented URL; automated retrieval blocked at this check.
www.coinbase.com/price/coinbase-wrapped-staked-eth
- PartialApplication reachable without an account
Published at a documented URL; automated retrieval blocked at this check.
www.coinbase.com/price/coinbase-wrapped-staked-eth - MetProtocol economics published independently
TVL and change history published.
defillama.com/protocol/coinbase-wrapped-staked-eth - Not metAccounting methodology published
Not published at this check.
defillama.com/protocol/coinbase-wrapped-staked-eth - Not metFee or reward model documented publicly
Not available at this check.
www.coinbase.com/price/coinbase-wrapped-staked-eth - PartialNo account required to reach the application
Published at a documented URL; automated retrieval blocked at this check.
www.coinbase.com/price/coinbase-wrapped-staked-eth
- MetTotal value locked published independently
TVL $356m at this check.
defillama.com/protocol/coinbase-wrapped-staked-eth - Met
- Not met
- Not metDeployed across more than one chain
1 chain(s) recorded.
defillama.com/protocol/coinbase-wrapped-staked-eth - MetListed on the dataset for over a year
Listing date recorded in the dataset.
defillama.com/protocol/coinbase-wrapped-staked-eth
- MetIndependent analytics page published
Public protocol page with history.
defillama.com/protocol/coinbase-wrapped-staked-eth - Not metAudit documentation linked
Not linked at this check.
defillama.com/protocol/coinbase-wrapped-staked-eth - MetChains and category disclosed
Category Liquid Staking, 1 chain(s).
defillama.com/protocol/coinbase-wrapped-staked-eth - MetApplication address published
Public application address.
www.coinbase.com/price/coinbase-wrapped-staked-eth - Not met
- PartialApplication reachable
Published at a documented URL; automated retrieval blocked at this check.
www.coinbase.com/price/coinbase-wrapped-staked-eth - Met
- Not met
- Not met
- MetNo account required for the above
Confirmed at this check.
defillama.com/protocol/coinbase-wrapped-staked-eth
A liquid staking derivative issued by a US-listed exchange, holding $356m with limited protocol-level disclosure retrievable publicly.
Our assessment
cbETH holds $356m and is issued by a US-listed exchange that files audited financial statements. That corporate accountability is genuine, and it does not substitute for protocol-level disclosure — which is what our rubric measures and what we could not retrieve.
Two different kinds of evidence
An SEC filing tells you about the company's finances. It does not tell you how the staking contracts work, which validators are used, how rewards accrue to the token, or what happens to holders if the issuer is compelled to halt redemptions. Those are the questions a staking derivative holder needs answered, and corporate reporting does not reach them.
The derivative and the issuer are one risk
cbETH's value depends on the issuer honouring redemption. Unlike a protocol derivative backed by inspectable contracts, there is no on-chain mechanism a holder can rely on independently of the company. For anyone who chose self-custody deliberately, this reintroduces exactly the dependency they were avoiding.
What the score records
No audit report at a public address and thin protocol-level transparency indicators. This is a strong company and a weakly documented staking product, and our rubric scores the product.
Who it suits
cbETH fits users who prefer a listed, regulated issuer and want a staking derivative usable in DeFi. Users who want verifiable on-chain backing should use Lido, Rocket Pool or StakeWise.
How rivals compare
Frequently asked
Does this score mean Coinbase Wrapped Staked ETH is safe?
No. It measures what an outsider can verify: linked audits, published methodology and independently recorded market data. Contract risk is not tested by us.
Where do the TVL and audit figures come from?
A public analytics dataset queried at the verification date, plus the audit reports it links. Both are re-runnable by anyone.
Why do some protocols score zero on audits?
Because no audit report is linked in the public record. The indicator records what a user can reach, not a claim that no audit exists.