Ethereum co-founder Vitalik Buterin has finally addressed some concerns over the lengthening Ethereum staking exit queue, which has now grown to 45 days.
His response came after Galaxy Digital’s head of DeFi, Michael Marcantonio, called the exit queue length “troubling” on X and compared it to Solana which only needs two days to unstake. He has since deleted the posts.
“Unclear how a network that takes 45 days to return assets can serve as a suitable candidate to power the next era of global capital markets.”
Deleted post from Galaxy Digital’s DeFi head. Source: Etc.
However, Buterin seemingly took a more ideological stance on the subject, describing unstaking from Ethereum as “more like a soldier deciding to quit the army,” adding that staking is more about “taking on a solemn duty to defend the chain.”
“Friction in quitting is part of the deal. An army cannot hold together if any percent of it can suddenly leave at any time.”
Overall, the network remains highly secure with over a million active validators and 35.6 million ETH staked, or almost 30% of the entire supply.
That being said, Buterin acknowledged the current staking queue design was not optimal, but reducing the constants would make the chain “much less trustworthy” for nodes that do not go online frequently.
Ethereum exit queue surged to an all-time high last week. Source: ValidatorQueue
Galaxy Digital purchased $1.5 billion worth of Solana (SOL) recently after partnering with Multicoin Capital and trading firm Jump Crypto in a Solana treasury firm.
Galaxy Digital was also the first Nasdaq-listed company to tokenize its shares on Solana.
Fighting the staking FUD
Marcantonio seemingly deleted the posts after pushback from others.
Former Consensys product manager Jimmy Ragosa called out Marcantonio and Galaxy Digital, stating that from what he can gather from direct messages, the only thing the “relentless ETH FUD” has achieved is that “most entities with any vested interest in Ethereum are now reconsidering their business with Galaxy.”
Source: Jimmy Ragosa
“Apparently, Galaxy made their head of DeFi delete all of his Ethereum FUD,” said crypto lawyer Gabriel Shapiro, adding that “he was engaging in insanely gaslighty psyops.”
“Frankly, I wish it had stayed up because it only made Ethereum look great both technologically and culturally, but oh well.”
“I’ll be recommending that people no longer do business with Galaxy,” said Ethereum educator Anthony Sassano before adding:
“Deleting tweets doesn’t change the fact that the guy is their ‘Head of DeFi’ and doesn’t understand the very basics of this industry and cares more about fudding Ethereum than the actual truth.”
Solana proponent Mike Dudas sided with Galaxy, stating, “folks with a ‘vested interest in Ethereum’ have to work with shitty bankers instead of Galaxy who has proven with Solana that they can drive significant value in transactions and bridge to a much broader group of stakeholders.”
Cointelegraph reached out to Marcantonio and Galaxy for comment.
Ethereum ecosystem remains healthy
The Ethereum exit queue has dipped over the past few days, but remains high at 2.5 million ETH. However, a large portion of this is from Kiln Finance following an exploit.
There are currently 512,000 ETH in the entry queue, which hit a two-year high recently amid institutional accumulation.
