News

According to Odaily, blockchain researcher and investor William Mougayar published an article defending the Ethereum Foundation, stating that the public has long misunderstood the Foundation's positioning, and that it is "accurately fulfilling its own mission." Mougayar pointed out that ETH, the Ethereum network, and the Ethereum Foundation itself are three distinct entities: ETH is an asset, Ethereum is shared computing infrastructure, while the Foundation is a non-profit organization responsible for driving protocol development, with one of its goals even being to "make the founders gradually less important." He noted that many critics hope the Foundation will take on responsibilities such as marketing ETH and attracting institutional funds, but this would be like "expecting the IETF to buy a Super Bowl ad for TCP/IP." He emphasized that the Ethereum Foundation is currently following a "subtraction approach," strengthening the network by advancing protocol upgrades, funding underlying research, and reducing its own centralizing influence. Recently, the Ethereum Foundation has faced community criticism for selling ETH, unstaking, and limited public communication. Data shows that this month it completed its third OTC sale to BitMine Immersion Technologies, selling a total of approximately 25,000 ETH worth about $47 million. In addition, the Foundation has recently unstaked more than 38,000 ETH in total, with a total value close to $90 million. (Cointelegraph)

According to on-chain analyst Yujin, WLFI spent over $115 million (in WLFI form) over the past four months to develop the USD1 market. This included USD1 interest subsidies on CEX (certain exchanges), activity subsidies on Aster, and interest subsidies on on-chain lending platforms (Dolomite). Based on this, USD1's scale increased by 50% (from $3.137 billion to $4.76 billion), rising from 7th to 4th place among US dollar stablecoins, surpassing USDe and PYUSD, and now ranking only behind USDT, USDC, and DAI. USD1's trading volume increased tenfold, from an average daily $200 million before subsidies to an average daily $2 billion now. The subsidies attracted users to hold and trade USD1, and CEX and Perp DEX also supported using USD1 as margin for trading.

BlockBeats News, May 24th, the Virtuals Protocol ecosystem today saw the emergence of a "Bankr-like" tool called "OxTrenchor," which allows any user to quickly issue tokens on X through simple commands. Unlike Bankr, OxTrenchor supports creator fees that are 100% directed to a specific X handle, with no additional platform cut. After the tool went live, it was appreciated by key Virtuals Protocol member @0xTP91, who hinted that this was a positive shift from Bankr's "please" mode (where developers need to actively claim tokens after issuance) to a "support" mode, providing a more user-friendly path for the community and builders to form capital. The remarks sparked dissatisfaction from Bankr developer @0xDeployer, who posted a screenshot accusing the Virtuals team of disparaging Bankr while promoting their issuance tool, a classic operation. However, as of the time of publication, Virtuals Protocol team members have not confirmed that OxTrenchor has an official background.