Restaking Boom Fades as Ether.fi Shifts to Cards and Borrowing

The restaking boom in cryptocurrency is losing steam as protocols like Ether.fi shift their focus away from this security-focused model. At the heart of the change is a simple economic reality: restaking offered too little extra yield to justify its risk. According to Ether.fi CEO Mike Silagadze, 'there were no meaningful restaking yield opportunities' while stakers still perceived risk.

This shift away from restaking comes as Ether.fi replaces one layer with products closer to everyday financial use, such as crypto-spending cards and borrowing markets. The company's card fees generated $3.14 million in gross profit in the second quarter of 2026, surpassing EigenLayer restaking's $2.87 million.

The economics behind this shift are evident in the numbers: ordinary staking produced roughly 53 times more fees per dollar secured than liquid restaking. As a result, Ether.fi is leaving its last structural tie to EigenLayer by the end of the year and removing withdrawal credentials tied to EigenPod.