The Block
Quick Take The Cosmos-based, EVM-compatible Layer 1 Berachain has launched its public testnet ahead of the anticipated mainnet release in Q2. Berachain introduces the concept of “proof of liquidity” consensus — aimed at aligning incentives between security and liquidity.
Quick Take StarkWare CEO Uri Kolodny has stepped down, but will remain a board member of StarkWare and the Starknet Foundation. StarkWare co-founder and president Eli Ben-Sasson is taking over the CEO role.
Quick Take Bitfinity, an EVM-compatible Bitcoin Layer 2 network based on the Internet Computer protocol, raised $7 million in total funding. The funding was realized via tokens rounds, with the latest valuation reaching $130 million, Bitfinity co-founder Max Chamberlin told The Block.
Quick Take USDC stablecoin issuer Circle has confidentially filed for an initial public offering of its equity securities.
Quick Take The Near Foundation is set to reduce its team by 40% despite apparent growth across the Near ecosystem in 2023. The cuts will primarily come from its marketing, business development and community teams, according to Near Foundation CEO Illia Polosukhin. He said, however, that its treasury “remains strong.”
There is a 70% likelihood for the approval of a spot Ethereum ETF, Bloomberg Intelligence analyst Eric Balchunas said.The SEC’s first verdict for the spot Ethereum ETF application has a deadline of May 23.Joe Caselin of BIT says he’s seeing a “buy the rumor, ignore the news, buy the next rumor” event.
Quick Take Ethereum co-founder Vitalik Buterin discussed increasing the block gas limit by 33%. Buterin proposed increasing the limit from 30 million to 40 million units of gas during a Reddit AMA session. The current gas limit of 30 million units has been unchanged for nearly three years.
Quick Take South Korea currently bans local financial institutions from owning and buying cryptocurrencies, as well as investing in businesses offering crypto.
Quick Take Coinbase, which is custodian to eight spot bitcoin ETFs, said the approval of the new instrument is “a watershed moment for the expansion of the cryptoeconomy.”
Quick Take Robinhood’s CEO Vlad Tenev said the firm intends to list the 11 newly approved spot bitcoin ETFs as quickly as it can.
