Tim Beiko: “ETH stakers will have access to locked assets with the next network update”

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Ethereum stakers are concerned about the delay in accessing locked assets. However, developer Tim Beiko is confident that “users’ fears are unfounded.”

Last week it was reported that EthereumThe Foundation has postponed the withdrawal of locked ether (ETH) from the Beacon Chain to an undetermined date. Previously, the Ethereum Foundation's official website listed a withdrawal period of 6 to 12 months for ETH, but last week users noticed that the wording had changed and the website no longer included the suggested time frame.

Validators have started placing deposits, minimum32 ETH into the Beacon Chain before merging to then participate in the block validation process. The launch of a staking procedure for institutional clients was announced by a number of commercial companies, including SEBA Bank. Since the start of the offering, 467,399 unique validators have locked almost 15 million ETH.

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Ethereum is notorious for constantlyfalls behind schedule and pushes deadlines. However, now that the crypto industry is going through difficult times, and many large companies, such as FTX, BlockFi or Genesis, have stopped withdrawing assets, any delays in access to funds cause panic among users.

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Imagine having no timeline when you can get your money out. #Ethereum

Is this some next level rug?