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Solana's fifth anniversary highlights the platform's booming interest, with extreme USDT volatility driven by meme coin activity and surging trade volumes.
Quick Take The venture capital fund’s former policy lead, Brian Quintenz, will be leaving as he faces Senate confirmation to become the next U.S. Commodity Futures Trading Commission chair. Miles Jennings has been general counsel at the fund for over three years and was previously a partner at law firm Latham & Watkins
Quick Take AIXBT, an AI agent that provides market commentary, lost approximately $100,000 worth of ETH in an exploit on Tuesday. The maintainer of the account said the attack gained access to the bot’s “simulation wallet” through malicious prompting.
Quick Take Ethereum continues to be the blockchain of choice for stablecoin activity, hosting $35 billion in USDC and $67 billion in USDT. The following is an excerpt from The Block’s Data and Insights newsletter.
Quick Take Raydium reportedly plans to spin out a rival memecoin launch-pad to compete with Pump.fun. The move comes about a month after Pump.fun was found to be testing a custom-built automated market maker, possibly to replace Raydium.
Quick Take EOS, the public blockchain launched in 2018 to take on Ethereum, is to be rebranded to Vaulta as it pivots to “web3 banking.” The EOS token, up 2% to around $0.52, will be swapped 1:1 for the new vaulta token beginning in May. Launched in 2018, EOS development company Block.one has had a storied legacy, including an SEC penalty related to its $4.1 billion ICO and the launch of a crypto exchange.
- 21:12Pump.fun and Letsbonk Generate Over $1 Million in Fee Revenue in the Past 24 HoursAccording to Jinse Finance, DefiLlama data shows that Solana ecosystem token issuance platform Pump.fun generated $1.32 million in fee revenue over the past 24 hours, ranking 14th across the network; Letsbonk generated $1.42 million in fee revenue over the past 24 hours, ranking 13th across the network.
- 20:48Ethereum L2 TVL Rises to $41.62 Billion, Up 13.1% in Seven DaysAccording to a report by Jinse Finance, data from L2BEAT shows that the total value locked (TVL) on Ethereum Layer 2 has risen to $41.62 billion, marking a 13.1% increase over the past 7 days. The top five Layer 2 networks by TVL are: Arbitrum One with $17.82 billion, up 13.1% in 7 days; Base with $14.96 billion, up 9.72% in 7 days; OP Mainnet with $3.86 billion, up 13% in 7 days; Unichain with $1.41 billion, up 11.4% in 7 days; and ZKsync Era with $1.14 billion, up 10.7% in 7 days.
- 19:32US Media: Trump Administration Reviews Contracts with Musk’s CompaniesAccording to a report by Jinse Finance, citing US media on the 20th, after the relationship between US President Trump and billionaire Elon Musk broke down, the Trump administration has begun reviewing contracts between Musk’s Space Exploration Technologies Corp. (SpaceX) and various federal government agencies. The Wall Street Journal reported that the US General Services Administration has asked several government agencies, including the Department of Defense and NASA, to fill out forms detailing their cooperation with SpaceX and to assess whether industry competitors could perform the same tasks more efficiently. Preliminary assessments indicate that, due to SpaceX’s dominant position in rocket launches and low-Earth orbit satellite services, most government contracts would be difficult to terminate. Previously, Trump stated on social media that the simplest way to reduce federal spending would be to “terminate” government contracts signed with Musk’s companies. Musk had fully supported Trump in the 2024 US presidential election, but the two have recently had serious disagreements and public disputes over issues such as the “Build Back Better” tax and spending bill.