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VanEck has filed for the first U.S. Solana ETF, claiming that SOL is a commodity like BTC and ETH. This filing follows the SEC approving spot BTC and ETH ETFs, aiming to track Solana's price through the VanEck Solana Trust on the Cboe BZX Exchange.
Coinbase is suing the SEC and FDIC, using the Freedom of Information Act to demand the release of documents concerning past crypto investigations and regulatory actions. It claims these agencies have systematically hindered the crypto industry, which can be seen in the ongoing disputes over regulation and access to banking services for crypto firms.
Stripe and Coinbase are partnering to boost global crypto adoption by integrating USDC on Base into Stripe's payout and onramp services and incorporating Stripe's fiat-to-crypto onramp into Coinbase Wallet for instant crypto purchases with credit cards and Apple Pay.
Hyperlane allows rollups to permissionlessly connect with fast and cheap bridging. Its AVS, powered by EigenLayer and secured by restaked ETH, connects any rollup with any other without requiring liquidity or validators to secure the bridging. The AVS is live on mainnet. More details will be revealed over the next few weeks.
Ethereum, Polygon, Avalanche, Stellar, and Base are public blockchain tokenization leaders. RWA-specific public chains like Provenance, Plume Network, and XDC offer features catered toward issuers and have seen some adoption. JP Morgan's Onyx, R3's Corda, Canton Network, and Kinto are private alternatives that restrict access to authorized participants and are better for enterprise-grade tokenization.
Though EIP-4844 reduced L2 fees, it has caused bot actions and spamming. Telegram bots are paying over 20x higher gas fees, with revert fees on top L2s spiking around 10% to 20%. There aren't many sandwich attacks with L2 single sequencer architectures, but shared sequencers will introduce mempools and, therefore, high MEV.
Solana's daily stablecoin volume has dropped sharply from $74B to ~$7B since June 10. This was largely influenced by two sources: MEV Bot 7rhxnL, and Phoenix DEX, which accounted for ~$1 trillion in total transfer volume last month. This decline aligns with the Solana Foundation's removal of delegations for validators involved in manipulative trading practices, impacting the operations of MEV Bot 7rhxnL, which immediately reduced its stablecoin activity.
Anti-Sybil work, vested airdrops, organic user prioritization, and separating the checker and claim are all great practices that result in a better airdrop experience. Most people care more about their allocation than the success of the token post-launch, while some express frustration with having to check wallets on several chains for the Wormhole allocation. This thread explores Wormhole's sybil methodology in detail.
Julien Assange received an anonymous donation of just over 8 Bitcoins, valued at ~500k USD, to help cover his debts.
This author argues for the return of Initial Coin Offerings (ICOs) to democratize crypto fundraising, contending that regulatory restrictions have given predatory venture capitalists (VCs) dominance over the market.
Zerion has launched the testnet for its Layer 2 rollup, ZERO Network, developed using ZKSync's ZK Stack, with the mainnet launch scheduled for later this year.
MegaLabs has raised $20 million in seed funding from Dragonfly, Vitalik Buterin, Joseph Lubin, and others, bringing the fully diluted token valuation of its new blockchain, MegaETH, to at least $100 million.