The Block
Quick Take The Ethereum Foundation plans to release a financial report soon, addressing community concerns about its spending. Justin Drake, an Ethereum researcher, indicated in an AMA that the foundation spends $100 million annually and has about $650 million in its main wallet. Depending on ether prices, the foundation’s financial runway is roughly ten years, Drake added.
Quick Take Fidelity’s FBTC saw the largest amount of outflows on Thursday, with $149.49 million. Spot ether ETFs showed comparatively small net movements in funds.
Macro trends took center stage today, driving the market up earlier in the session before pulling it back down.This column is adapted from The Scoop newsletter.
Quick Take Telegram CEO Pavel Durov posted a message to his popular messaging app after being arrested in France. He said Telegram is “prepared to leave markets that aren’t compatible” with the messaging app’s principles.
Quick Take Prosecutors on Thursday said they repeatedly clarified with Ryan Salame’s lawyers that his guilty plea would not halt any ongoing investigation into his partner Michelle Bond. The filing also included some details about Salame’s alleged misconduct while at FTX, according to notes taken by prosecutors in April 2023.
Quick Take Polymarket’s growth trajectory speaks volumes about its increasing popularity and the public’s eagerness to put their money where their predictions are. The following is an excerpt from The Block’s Data and Insights newsletter.
EigenLayer plans to distribute 86 EIGEN million tokens to stakeholders in its season 2 “stakedrop.”Worldcoin eyes Facebook-like scale for global reach, according to Tools for Humanity CEO Alex Blania.Robinhood agrees to pay a $3.9 million penalty to settle an investigation from the California DOJ over its past crypto withdrawal restrictions.The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Quick Take JOJO Exchange has implemented Chainlink as its oracle solution. The Base network DEX cited Chainlink’s infrastructure, sub-second price latency, and high data accuracy as reasons for the integration.
Quick Take The token will support numerous assets with different annual percentage yields. Supported collateral includes USDT, USDC, DAI, USDE, bitcoin and ether, in addition to some blue chip tokens and other altcoins.
Ether has underperformed bitcoin by 44% since its switch to proof-of-stake, according to CryptoQuant analysts.The analysts suggest ether could experience further declines due to weaker network activity and growing supply.
