Users are now able to unwrap their Coinbase Wrapped Staked ETH

I just got an email from Coinbase saying

________________________________

We have made updates to our terms for Staking services.

We recently made some changes to our User Agreement terms on delivering staking services. Here’s what you need to know:

• Going forward, Coinbase’s commission for staking may vary by asset. We take a commission (percentage) from the rewards you receive but there are no fees to stake or unstake. The staking fees for each asset can be found in the Coinbase Help Center.
• As a reminder, we offer protection for customers in the event staked assets are lost due to slashing. This protection varies by asset, and depends on the cause of the slashing. For more information, see the User Agreement.
• Users are now able to unwrap their Coinbase Wrapped Staked ETH (“cbETH”) for the underlying staked ETH plus any rewards and minus any Coinbase fees and slashing penalties. cbETH is a new Coinbase token that lets you sell or transfer your staked ETH. Eligibility requirements apply. Learn more about cbETH.

Visit our Help Center or User Agreement to learn more. To learn more about staking at Coinbase go to the Earn page.

________________________

​

The biggest take away is

Users are now able to unwrap their Coinbase Wrapped Staked ETH

That you can do that, get rewards. But you deal with whatever fees and slashing penalties.

So lets look at the slashing penalties https://www.bloxstaking.com/blog/ethereum-2-0/understanding-eth2-slashing-preventative-measures/

Thereafter, the slashed validator is assigned an epoch 36 days in the future, at which time they will be ejected from the network (a process that is irreversible). Until then, the validator will incur a number of additional penalties:

1. A penalty at the time of whistleblower message (minimum penalty).

2. A penalty at the beginning of each epoch for missing duties leading up to forced withdrawal from the network.

3. A penalty halfway to the withdrawal date (special penalty) – the severity of this penalty depends on the number of validators who committed a slashable offense during the same epoch*

​

So in short, there isn't any blowback on us based on what they said. But giving they did warn it, it is best to just send Coinbase a message before you do unwrap it. They might ding you in some other way.