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Crypto Whale DataThis wallet account is Animalverse Club NFTs holder has been Verified

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Crypto Whale Data

@0x1d7a9641dcccfe07c722bede8b3c2221cc19d4caThis wallet account is Animalverse Club NFTs holder has been Verified

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  • Ethereum Foundation outlines key security challenges facing the network in new report The Ethereum Foundation has identified six key areas for improvement in its initial Trillion Dollar Security report as the organization adopts a more deliberate approach to strengthening the largest blockchain in decentralized finance. The overview listed user experience, smart contract vulnerabilities, infrastructure and cloud dependencies, consensus protocol strength, monitoring and incident response governance as critical spheres requiring attention. Next, the EF will prioritize certain areas to tackle the highlighted issues. “This first report is focused on identifying and mapping the problems and challenges that remain,” a blog post from the foundation said. “The next step will be to choose the highest priority issues, identify solutions, and work with the ecosystem to address them.” The findings, discovered through the 1TS initiative launched in mid-May, are part of a three-part strategy to enhance Ethereum’s security architecture and meet global financial demands. Besides identifying vulnerabilities and addressing high-risk loopholes, the initiative emphasizes improving information flow within Ethereum’s ecosystem. 1TS preceded a shake-up at EF’s Protocol research and development division. Earlier this month, the foundation announced layoffs and management changes in its protocol research and development division to streamline operations. Additionally, the EF recently appointed long-serving EF member and former executive director, Aya Miyaguchi, as the new foundation president. It also unveiled a reformed treasury management model to optimize spending. These moves appeared to address recent community criticism regarding the foundation’s direction and perceived delays in research progress.
  • XRP Ledger devs plan sidechain launch in Q2 for Ethereum compatibility The XRP Ledger, a blockchain associated with cross-border payments firm Ripple, plans to launch an Ethereum Virtual Machine (EVM) sidechain in the second quarter of this year, aiming to integrate Ethereum smart contracts into its ecosystem. Ripple's Chief Technology Officer, David Schwartz, announced the sidechain launch timeline at the ongoing Apex 2025 event in Singapore, according to Peersyst, one of the project's core developers. The sidechain, a parallel-running blockchain, will integrate the XRP Ledger's low-cost transaction capabilities with Ethereum's smart contract functionality. It is being developed by contributors Ripple and Peersyst, leveraging evmOS' software stack. It is currently live on testnet, serving as a precursor to a mainnet launch expected to follow after further testing and validator partnerships in the second quarter. While the XRP Ledger already supports native smart contracts, the network does not currently support the EVM, a computing environment commonly used by Ethereum developers to write applications. Flare Network, which integrates with XRPL, also separately provides smart contract functionality using an EVM-compatible layer. The sidechain is set to connect to the XRPL mainnet via a bridge, utilizing Axelar as the exclusive bridge for transferring assets such as wrapped XRP, which will serve as the native gas token.
  • French bank Societe Generale to launch US dollar-pegged stablecoin on Ethereum and Solana French banking giant Societe Generale announced plans to launch a U.S. dollar-pegged stablecoin called USD CoinVertible (USDCV) on Ethereum and Solana, potentially becoming the first major European bank to do so. The USDCV coin will be issued through SG-Forge, Societe Generale’s crypto-focused subsidiary, with custody services provided by New York-based BNY Mellon, according to a statement released Tuesday. USDCV follows SG-Forge’s euro-denominated stablecoin EURCV, which debuted in April 2023. SG-Forge CEO Jean-Marc Stenger said that creating a dollar-backed product was an “obvious next step,” driven by the overwhelming dominance of U.S. dollars in the global stablecoin market. “The stablecoin market remains largely US dollar-denominated,” Stenger remarked. “This new currency will enable our clients, either institutions, corporates, or retail investors, to leverage the benefits of an institutional-grade stablecoin.” Both fiat-pegged crypto coins issued by SG-Forge comply with Europe’s Markets in Crypto-Assets (MiCA) regulations as authorized Electronic-Money Tokens (EMTs). MiCA, which went into effect in June 2023, provides a unified regulatory framework for digital assets across European jurisdictions. Regulation and stablecoin boom USDCV’s announcement aligns with growing interest from traditional financial institutions globally. A recent Wall Street Journal report noted major U.S. banks exploring a joint stablecoin venture. Stripe co-founder John Collison also said several banks were "very interested" in stablecoin integration. Meanwhile, the stablecoin market surpassed $250 billion for the first time earlier this month, led by Tether (USDT) and Circle (USDC), according to The Block’s data. Also, regulation has seen progress in the U.S. and worldwide. Policymakers in Washington have advanced the GENIUS Act despite controversy over President Donald Trump’s crypto ties. South Korean rulemakers also proposed a stablecoin licensing process in a new crypto bill.
  • SEC Chair Paul Atkins says the right to self-custody is a 'foundational American value' U.S. Securities and Exchange Commission Chairman Paul Atkins is turning a new page at the agency in how it views self-custody, describing it as a "foundational American value." In remarks delivered Monday at the SEC’s final Crypto Task Force Roundtable, titled "DeFi and the American Spirit," Atkins hinted more of an openness toward self-custody, marking a departure from the previous administration. "The right to have self-custody of one’s private property is a foundational American value that should not disappear when one logs onto the internet," Atkins said Monday. "I am in favor of affording greater flexibility to market participants to self-custody crypto assets, especially where intermediation imposes unnecessary transaction costs or restricts the ability to engage in staking and other on-chain activities." Since President Donald Trump took office and following former SEC Chair Gary Gensler's departure, the agency has taken a warmer approach to crypto in part through dropping enforcement actions against major crypto industry players and creating the crypto task force. The task force has hosted five roundtable discussions over the past few months with a focus on tokenization, custody, trading, and defining securities. Atkins has criticized the agency's previous approach, and on Monday, accused the agency of undermining the innovation in self-custody by asserting that developers could be brokers, and therefore, need to follow the SEC's rules. "I do not believe that we should allow century-old regulatory frameworks to stifle innovation with technologies that could upend and most importantly improve and advance our current, traditional intermediated model," Atkins said. "We should not automatically fear the future." Atkins also said he asked SEC staff to look into next steps. "I have asked the Commission staff to explore whether further guidance or rulemaking may be helpful for enabling registrants to transact with these software systems in compliance with applicable law," he said.
  • Ethereum is hitting a critical inflection point, Bernstein says, as crypto shifts from speculation to real financial innovation While this crypto market cycle has been dominated by the narrative of institutionalization of Bitcoin, stablecoins, and tokenization, analysts at Bernstein believe that these developments are driving the early stages of traditional financial innovation on public blockchains such as Ethereum. “Bitcoin is great, we love it and still believe $200,000 is our high-conviction but conservative price forecast this cycle,” the analysts led by Gautam Chhugani wrote in a Monday note to clients. “However, we believe, the mainstream interest is broadening beyond the ‘store of value’ Bitcoin use case toward the early stages of the financial innovation unleashed by the blockchain. Some investors still draw the line between blockchain (useful tech) and crypto (‘useless’) … [but] Ethereum ‘deserves love,'” they said. The U.S. spot Bitcoin exchange-traded funds, launched in January 2024, are among the most successful investment products of all time, having crossed $120 billion in assets under management in less than two years, analysts noted. Meanwhile, the launch of spot Ethereum ETFs in the U.S. last July has largely flown under the radar, generating a comparatively small $9 billion in AUM. However, with ether trading at a $300 billion market cap — one-seventh of bitcoin’s $2.1 trillion — that’s no surprise, they said. Instead, Ethereum’s uniqueness is derived from its position as a decentralized computer, Chhugani explained, with interesting blockchain use cases such as stablecoins and tokenization being native to Ethereum and the Ethereum blockchain, which enjoys a maximum market share in these sectors. “Not surprising, as Ethereum hits institutional awareness, we are seeing ETH ETF inflows waking up. In the last 20 days, ETH ETFs’ inflows stood at $815 million, with year-to-date net inflows turning positive at $658 million,” the analysts said. “This is the stage where crypto takes a leap from speculative token markets to blockchain-driven financial innovation,” the analysts continued — with financial activity evolving from retail trading memes to blockchains providing open financial rails for capital markets, payments, and new-age fintechs, integrating with stablecoins and tokenization. A critical inflection point Major payment incumbents like Visa, Mastercard, and Stripe are already developing their stablecoin strategies, Bernstein noted, arguing that if real companies and institutional investors are innovating on the blockchain, it makes blockchain networks, and by implication, blockchain network assets like ETH, valuable. “Investors have always told us — crypto is useless, but blockchain is valuable,” Chhugani said. “But these are not different things. If you believe in stablecoin-based payments innovation, why is the Ethereum network that mints the stablecoins and processes stablecoin transactions not valuable? Any company that uses stablecoin tech pays transaction fees to the Ethereum network. There is now both utility and value accrual. We believe that the narrative around value accrual of public blockchain networks is at a critical inflection point, starting to reflect in investor interest in Ethereum ETF inflows.” The analysts also highlighted the rising adoption of these sectors from major crypto firms, noting Coinbase’s merchant stablecoin payments pilot and applications within its Base Layer 2 network. They also cited Robinhood’s recent push in advocating for tokenized real-world assets and Kraken’s planned rollout of tokenized U.S. stocks for international users. “We are hoping to help institutional investors connect the dots here,” the analysts said. “Coinbase and Robinhood are not just trading crypto but building financial applications on the blockchain/crypto rails. Not all crypto tokens are valuable, but foundational blockchain native assets such as Ethereum are now crossing the chasm from useless retail speculation to useful financial innovation. As the market recognizes this trend, this has a positive feedback loop as more investors trade/invest in tokens other than Bitcoin.” Gautam Chhugani maintains long positions in various cryptocurrencies. Certain affiliates of Bernstein act as market makers or liquidity providers in the equity securities of Coinbase and Robinhood
  • Crypto fund issuers press SEC to reinstate 'first-to-file' ETF approval process A trio of cryptocurrency fund managers urged the U.S. Securities and Exchange Commission to go back to an approach that approved exchange-traded products on a first-come, first-served basis and said the current approach makes the "marketplace less fair." VanEck, 21Shares, and Canary Capital stated that they are concerned about the agency's "recent failure to practice a 'first-to-file' approach," where the SEC prioritizes greenlighting financial products based on the order of arrival. The firms voiced those concerns in an open letter sent to SEC Chair Paul Atkins and posted to X on Friday. "The failure to follow this practice has frustrated the regulatory principles of innovation, fairness and competition in the financial markets," the firms said in the letter. "To that end, we respectfully request your prompt reinstatement of the Commission's longstanding first-to-file approval principle for registration statements. Simply put, when the Commission plays favorites, it costs ETP sponsors money and makes the ETP marketplace less fair." The SEC is currently weighing dozens of applications for ETFs, including ones tracking SOL, XRP, and DOGE, among other assets. Many of these proposals were filed over the past year following an expectation that the agency under the Trump administration would be more permissive. During the Biden administration, following a pivotal court ruling, the SEC approved the listing and trading of spot Bitcoin ETFs and, subsequently, spot Ethereum ETFs. In a somewhat unusual move, the firms argued that the SEC approved all spot Bitcoin ETF issuers to list their products on the same day, despite receiving proposals for the 11 different funds at different times. A return to a first-to-file approach is needed because, without it, the market becomes more concentrated, creating a "competitive imbalance," they said. "Moreover, the reduced incentive for pioneering product development has broader implications," the firms wrote. "It diminishes investor choice, compromises market efficiency, and fundamentally undermines the Commission's mission of protecting investors, maintaining fair, orderly and efficient markets, and facilitating capital formation." VanEck's Head of Digital Assets Research, Matt Sigel, previously told The Block that the firm was the first to file for a Solana ETF in June 2024, on the expectation that the SEC would return to a fairer, time-weighted standard for approving financial products. The SEC did not respond to a request for comment.
  • Yuga Labs proposes dismantling ApeCoin DAO over failed governance, replacing it with new entity ApeCo Bored Apes creator Yuga Labs proposed discontinuing its ApeCoin DAO governance system to establish a new operating model for growing the Ethereum-based token Ape's ecosystem. "ApeCoin DAO was a bold experiment, but one born of a different era," Yuga Labs CEO Greg Solano wrote in the Thursday proposal. "What started with promise has devolved into sluggish, noisy, and often unserious governance theater." To salvage and advance the DAO's sole remaining merit — funding builders — Yuga Labs proposed replacing it with a new entity, ApeCo. The transition aims to eliminate ambiguity in governance and focus resources on building the ecosystem's three core pillars, which are ApeChain, Bored Ape Yacht Club and Otherside. It also plans to empower "real" builders by setting milestone-based grants and tighter accountability. Founded in 2022, the ApeCoin DAO launched ApeCoin on the Ethereum blockchain as an independent, decentralized entity that is separate from Yuga Labs, despite being connected to its ecosystem. However, the DAO has since struggled to maintain apt governance operations that benefit the project as a whole. "[The DAO] has been nothing but a joke, and a drag on the entire ecosystem, pillaged and slow and inefficient and overpoliticized since inception, with unaligned bad actors and extractors everywhere," wrote X user @OGDfarmer. "It's clear that [Solano's] Yuga would be better stewards." If the proposal is accepted, the ApeCoin DAO will be fully terminated, with all rights and powers of token holders related to governance and assets. It would also nullify previous ApeCoin Improvement Proposals (AIPs) and kill delegated authorities, working groups, elections, and forums. Yuga's latest proposal met with mostly positive feedback in the ApeCoin forum. The proposal has been put to a vote on the forum. It is, however, for checking community sentiment and not an official vote. Meanwhile, Yuga Labs recently sold off several popular NFT intellectual properties, including Moonbirds, CryptoPunks and Meebits, suggesting that the company is sharpening its focus on its core offerings. ApeCoin's price has dropped 50% in the past year, currently trading at $0.70, according to The Block's price page. The token is down 97% from its all-time high of $26.
  • Bitcoin ATM operator CoinFlip seeks buyer for potential $1 billion sale: report The bitcoin ATM operator CoinFlip could potentially join the spate of crypto mergers and acquisitions as it seeks a buyer for a $1 billion sale, according to Bloomberg, citing people familiar with the matter. CoinFlip enlisted the help of a financial advisor to help navigate its preliminary sale stage. Although CoinFlip aims to secure at least $1 billion for the sale, it's not guaranteed that the firm will achieve that amount or if the sale will even proceed, according to Bloomberg's reporting. The Block reached out to CoinFlip for comment. CoinFlip is the second-largest operator of cryptocurrency ATMs behind Bitcoin Depot, which maintains a total of nearly 8,700 bitcoin ATMs, data from CoinATMRadar shows. CoinFlip's ATMs span the globe, with approximately 5,600 locations, including around 4,300 in the United States, according to the firm's website. In 2018, CoinFlip received seed financing from Shoreline Venture Management, JetBlue Technology Ventures, and Heads or Tails Investments. Cryptocurrency ATMs provide individuals with a physical location to purchase, sell, or send digital assets, primarily bitcoin. While they may provide individuals a convenient way to transact cryptocurrency, bad actors employ crypto ATM scams, particularly those targeting the elderly. United States lawmakers have introduced legislation, such as the Crypto ATM Fraud Prevention Act, this year to combat this type of fraud, The Block previously reported. Crypto M&A activity has been on the rise since at least November 2024. It continues its trend well into 2025, driven by improved regulatory clarity for the blockchain industry and renewed interest from web2 firms. Most recently, the trading app Robinhood completed its $200 million acquisition of the crypto exchange Bitstamp on June 3, The Block previously reported
  • Trump’s Truth Social files S-1 with SEC for Bitcoin ETF Truth Social, the social-media arm of Trump Media & Technology Group, has submitted a Form S-1 registration statement to the U.S. Securities and Exchange Commission for the Truth Social Bitcoin ETF. The fund would hold spot Bitcoin and list on NYSE Arca, tracking the cryptocurrency's market price. The filing comes two days after NYSE Arca lodged a companion Form 19b-4 seeking exchange approval to trade shares of the proposed fund. Both submissions are standard dual filings required before an ETF can launch. In what appears to be a first for a crypto-ETF prospectus, the risk section cites potential effects of President Donald Trump’s pro-crypto push and regulatory overhauls, according to Eric Balchunas, a senior ETF analyst at Bloomberg. The filing notes the creation of an SEC crypto-task force in January and Trump’s March executive order establishing a Strategic Bitcoin Reserve, adding that “it is not possible to fully predict the potential impacts on the Sponsor, the Trust, TMTG, Crypto.com, their affiliates or third-party service providers.” “Pretty sure it's the first time ever the advisor is in the risk section,” Balchunas posted on X. Yorkville America Digital — listed as sponsor — acts in the role an advisor would play for an ETF filed under the U.S. Investment Company Act of 1940, in this case. Approval for the Truth Social Bitcoin ETF would deepen Trump-linked crypto activity. Last month, TMTG announced a $2.5 billion offering to build a corporate Bitcoin treasury. Also, the proposed Bitcoin fund would join a roster of U.S. spot-Bitcoin ETFs from BlackRock, Fidelity, Grayscale, and others that collectively manage about $126 billion worth of assets
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