user4302: Sorry if the question seems trivial/silly, but where is the ~10B ADA that is not actively staked? It seems like any actor (individual, business, exchange, etc) has every incentive to stake their ADA. Even if a lot of people are holding their ADA on exchanges, I would expect that exchange to stake it for them and reap the rewards... so what gives?
(Perhaps we can exclude the ~700 million that is in the catalyst treasury, but still its a a LOT of unstaked ADA.

user4382: This is a great question. I was thinking a very similar thought the other day. However, I am thinking it has to be exchanges.
This is speculation but I would imagine staking someone else's Ada posses a legal risk. I don't think it would be far fetched for someone to file an Antitrust law on them for doing so (at least in the U.S). This is also why I think Binance US doesn't allow staking Ada.
Again, this is speculation, but it is what I have came up with as the reasoning.
I hope it helps! And please correct me if any of this is known to be false.

4302: <p>Sorry if the question seems trivial/silly, but where is the ~10B ADA that is not actively staked? It seems like any actor (individual, business, exchange, etc) has every incentive to stake their ADA. Even if a lot of people are holding their ADA on exchanges, I would expect that exchange to stake it for them and reap the rewards... so what gives?</p>
<p>(Perhaps we can exclude the ~700 million that is in the catalyst treasury, but still its a a LOT of unstaked ADA.</p>
 4382: <p>This is a great question. I was thinking a very similar thought the other day. However, I am thinking it has to be exchanges.</p>
<p>This is speculation but I would imagine staking someone else's Ada posses a legal risk. I don't think it would be far fetched for someone to file an Antitrust law on them for doing so (at least in the U.S). This is also why I think Binance US doesn't allow staking Ada.</p>
<p>Again, this is speculation, but it is what I have came up with as the reasoning.</p>
<p>I hope it helps! And please correct me if any of this is known to be false.</p>
