BALTIMORE — Coinbase erected an 11-foot ice wall at M&T Bank Stadium ahead of the Ravens/Jets game, hoping to break the ice on conversations around cryptocurrency in Maryland.
Maryland is one of only four states that isn't allowed to participate in a process called "staking," which is like crypto's version of investing in the stock market. Investors put money into a network with a chance to earn rewards back.
WATCH: Coinbase sets up 11-foot ice wall at M&T Bank Stadium to promote crypto staking in Maryland
The company is hoping this display will draw people's attention and strike up conversations about cryptocurrency regulations.
"The whole point of the display is a large block of ice is the importance of unfreezing crypto, not nationally, unfreezing crypto in Maryland. Because 46 states allow you to use Coinbase's platform in order to earn rewards, and they have earned hundreds of millions of dollars in rewards," said Ryan VanGrack, VP of Litigation at Coinbase.
Coinbase is hoping it can prove to state lawmakers that their strategy is safe and secure for Marylanders to use.
The next legislative session could determine what's next for crypto in the state.
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