Crypto Morning News: Ethereum Foundation announces R&D team restructuring and layoffs; Circle increases IPO size and price range
TechFlow Selected TechFlow Selected
Crypto Morning News: Ethereum Foundation announces R&D team restructuring and layoffs; Circle increases IPO size and price range
Metaplanet increases Bitcoin holdings by 1,088 BTC, bringing total holdings to 8,888 BTC.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Developments
Federal Reserve Governor Waller: Trade policy uncertainty remains high, but the good news is that rate cuts are still possible later this year
According to Jin10 News, Federal Reserve Governor Christopher Waller stated that modest-sized tariff policies may not be fully passed on to consumers, though tariffs could lead to one-time price increases, which the Fed could tolerate. The outlook for rate cuts depends on a slowdown in inflation and whether tariff measures remain at the lower end of the spectrum. Additionally, strong economic performance through April has given the Fed time to observe how trade dynamics evolve.
However, trade policy prospects remain highly uncertain. Tariffs could increase unemployment, with effects potentially persisting over time. The economy and labor market face downside risks, while inflation faces upside pressure. The “good news” is that rate cuts remain possible later this year.
Circle has raised its IPO size and pricing range
According to Bloomberg, Circle Internet Group Inc. and its shareholders have increased the size and pricing range of their initial public offering (IPO), signaling strong investor demand.
Per filings submitted Monday to the U.S. Securities and Exchange Commission (SEC), the company and certain existing shareholders now plan to issue 32 million shares priced between $27 and $28 per share.
Previously, Circle and selling shareholders had planned to issue 24 million shares at $24–$26 per share.
Market Rumor: Sberbank Plans Bitcoin Derivatives and Structured Bonds
As disclosed by The Bitcoin Historyian on X, Sberbank—the largest bank in Russia with $626 billion in assets—plans to launch bitcoin derivatives and structured bonds.
Ethereum Foundation Announces R&D Team Restructuring and Layoffs, Focusing on Network Scaling and User Experience
According to CoinDesk, the Ethereum Foundation announced a restructuring of its research and development team, including staff reductions, and renamed the department to "Protocol" to focus on core protocol design challenges.
The move comes amid ongoing community criticism regarding the foundation’s management and strategic direction. Some voices have warned that failure to resolve key technical issues could threaten Ethereum’s position as a technological leader in the industry.
The foundation said the restructured Protocol team will focus on three priorities: scaling the Ethereum base layer, advancing blob space expansion within data availability strategies, and improving user experience.
In its announcement, the foundation noted that "some members of the R&D team will no longer continue," encouraging other teams to absorb available talent. The number of layoffs was not disclosed.
In addition, the foundation pledged to improve transparency around upgrade timelines, technical documentation, and research. Co-executive director Hsiao-Wei Weng said on social platform X that the new structure aims to drive core projects forward more efficiently.
ETHGlobal Prague 2025 Announces Finalist Projects
Official sources report that ETHGlobal Prague 2025 has revealed its list of finalist projects. These include the blockchain game Yetris, cross-chain token sweeper DUST.OPS, travel verification project Wrld Map, on-chain attestation project Karma Proof, LP yield project Detox-Hook, credit lending project 0xCollateral, payment layer MCPay.fun, virtual pet project Pomodoki, AI chat workflow tool conduct.chat, and on-chain "junk" cleanup project Decycle.
CZ: Now Might Be the Right Time to Launch an On-Chain Dark Pool Perpetual DEX
CZ posted on X that given recent events, now might be a good time to launch a dark pool perpetual DEX.
"I've always been puzzled by the fact that everyone can see your orders in real-time on a DEX. This problem is even more severe on perpetual DEXs where liquidations exist."
"Even on centralized exchange (CEX) order books, orders aren't tied to specific individuals, but if you want to buy $1 billion worth of crypto, you usually don’t want others noticing your order before it’s filled. Otherwise, others might front-run the purchase, effectively engaging in front-running. In decentralized exchanges (DEXs), this could lead to MEV attacks, resulting in higher slippage, price impact, and increased costs."
"That’s why large traders in TradFi use dark pools, which are typically about 10 times larger than 'lit pools'—i.e., normal order books."
"For holders or futures traders, it’s even more important not to let others know or see your orders. If others spot your liquidation point, they might try to push the market to liquidate you. Even if you hold $1 billion, others could collude against you. That may be exactly what we’ve seen recently."
"The counterargument I’ve heard is that greater transparency allows market makers to absorb your large orders. That may be true. I’m not arguing who’s right or wrong. Different traders may prefer different types of markets. Perhaps now is the time to build an on-chain dark pool-style DEX with perpetual contracts—one that either hides the order book entirely or, better yet, doesn’t reveal deposits into smart contracts at all, or only reveals them much later. This should be achievable using zero-knowledge proofs or similar cryptographic techniques."
Metaplanet Increases Bitcoin Holdings by 1,088 BTC, Total Holdings Reach 8,888 BTC
Japanese-listed company Metaplanet announced the purchase of 1,088 bitcoins, valued at approximately $117.3 million. Its total holdings now stand at 8,888 BTC, worth around $934 million.
Chinese Company Webus International Announces Plan to Establish $300 Million XRP Strategic Reserve
According to Cointelegraph, Chinese firm Webus International Limited has announced a financing plan of up to $300 million to establish a strategic XRP reserve aimed at supporting global payment solutions.
Kraken Begins Distributing Funds to FTX Creditors
Sunil, representative for FTX creditors, stated on social media: "FTX creditors have received their distribution payments in their Kraken accounts."
Earlier reports indicated that FTX has initiated its second round of repayments exceeding $5 billion, with eligible creditors expected to receive funds within 1–3 business days.
Yuga Labs Sells Moonbirds IP to Gaming Startup Orange Cap Games
According to Decrypt, Yuga Labs, creator of Bored Ape Yacht Club, announced on May 31 the sale of the Moonbirds NFT intellectual property to gaming startup Orange Cap Games. Terms of the deal were not disclosed.
This marks the third NFT project IP that Yuga Labs has sold this year, following the sales of Meebits and CryptoPunks IPs in February and May to The Meebit Company and nonprofit Infinite Node Foundation, respectively.
Orange Cap Games has not yet revealed specific plans for the Moonbirds IP but stated that future Moonbirds-related on-chain assets will be minted on Layer 1 or Yuga Labs’ affiliated ApeChain. Meanwhile, Moonbirds characters will continue to appear in Yuga’s Otherside game.
This Week Will See Major Token Unlocks for ENA, TAIKO, and Others
According to Token Unlocks data, several projects including TAIKO and SPEC will undergo significant single-token unlocks this week:
-
Eigenlayer (EIGEN): ~1.29 million tokens unlocked at 03:00 UTC+8 on June 4, representing 0.42% of current circulating supply, valued at ~$1.7 million;
-
Cetus Protocol (CETUS): ~8.33 million tokens unlocked at 08:00 UTC+8 on June 4, representing 1.15% of current supply, valued at ~$1.1 million;
-
IOTA (IOTA): ~8.63 million tokens unlocked at 08:00 UTC+8 on June 4, representing 0.23% of current supply, valued at ~$1.6 million;
-
Taiko (TAIKO): ~81.55 million tokens unlocked at 20:00 UTC+8 on June 5, representing 69.37% of current supply, valued at ~$46.9 million;
-
Spectral (SPEC): ~3.62 million tokens unlocked at 08:00 UTC+8 on June 6, representing 17.57% of current supply, valued at ~$3.7 million;
-
Neon (NEON): ~53.91 million tokens unlocked at 08:00 UTC+8 on June 7, representing 22.51% of current supply, valued at ~$6.1 million.
Market Data
Suggested Reading
Musk Pushes XChat: What Exactly Is a “Bitcoin-Style” Cryptographic Architecture?
This article discusses Elon Musk’s announcement of the XChat messaging system, which uses a “bitcoin-style” cryptographic architecture featuring end-to-end encryption, self-destructing messages, arbitrary file transfers, and cross-platform audio/video calling. XChat leverages elliptic curve cryptography (ECC), digital signatures (ECDSA), and hash algorithms (SHA-256)—technologies derived from Bitcoin—to ensure privacy and tamper resistance. The initiative aims to transform the X platform into a WeChat-like “super app,” potentially integrating payment functionality (XPay) and AI assistants (Grok 3) in the future.
Buying Crypto: The New Wealth Formula for U.S.-Listed Companies
This article examines the growing trend among U.S.-listed companies using cryptocurrency purchases to boost market valuations. Firms like MicroStrategy and SharpLink Gaming have leveraged low-cost financing to buy digital assets, riding market enthusiasm to inflate valuations and create a capital recycling model. However, this strategy carries significant risks and isn’t suitable for every company.
Crypto Goes Public: A Guide to 45 Listed Crypto Companies
This article explores how crypto firms are gradually entering traditional financial markets, listing 45 publicly traded crypto enterprises spanning mining, exchanges, and crypto financial services. It illustrates the industry’s journey from the fringes toward mainstream adoption.
How to Participate in the Viral LOUD Project?
This article focuses on LOUD, an experimental token project based on attention economics, planning to launch its token via an Initial Attention Offering (IAO). LOUD operates by rewarding users with token fee distributions based on content-driven attention rankings, attracting widespread interest. With sound tokenomics, a low initial FDV, and competitive entry barriers, LOUD aims to explore the monetization of attention within the Web3 ecosystem.
OKX Children’s Day Special: Inside the “Crypto Kid” Investment Strategies of Ten Industry Leaders
This article explores Bitcoin’s role in family wealth inheritance, featuring interviews with multiple industry experts who share their views on Bitcoin, investment philosophies, and its place in household asset allocation. It also discusses Bitcoin’s advantages over traditional assets and how it can transmit long-term thinking and values across generations.
Join TechFlow official community to stay tuned
Telegram:https://t.me/TechFlowDaily
X (Twitter):https://x.com/TechFlowPost
X (Twitter) EN:https://x.com/BlockFlow_News
深潮TechFlow
