Coin overview
EIGEN
Ended--
Last price (USDT)
171.76K
24h total (USDT)
739.77K
Total vol (USDT)
2024-04-30 09:00:00 ~ 2024-10-01 03:30:00
Trading time (UTC+0)
2024-10-01 09:00:00
Delivery time (UTC+0)
Total supply1.74B
Resources
Introduction
EigenLayer is a protocol built on Ethereum that introduces re-staking, allowing users who have staked $ETH to join the EigenLayer smart contract to re-stake their $ETH and extend cryptoeconomic security to other applications on the network. As a platform, EigenLayer, on one hand, raises assets from LSD asset holders, and on the other hand, uses the raised LSD assets as collateral to provide middleware, side chains, and rollups with AVS (Active Verification Service) needs. The convenient and low-cost AVS service itself provides demand matching services between LSD providers and AVS demanders, while a specialized pledge service provider is responsible for specific pledge security services. EIGEN total supply: 1.67 billion tokens
Grvt completes $19 million Series A funding round, with investors including ZKsync, Further Ventures, EigenCloud, and others, leading privacy-first on-chain finance and opening a new chapter in the trillion-dollar market.
Grvt, an on-chain privacy decentralized trading platform based on zero-knowledge proof (ZK) technology, announced today the completion of a $19 million Series A funding round. This investment cements Grvt’s position as a pioneer in the blueprint for the future of global finance and accelerates its mission to disrupt the fragmented on-chain financial ecosystem by addressing long-standing industry challenges such as privacy vulnerabilities, security, scalability, and ease of use. As Wall Street embraces blockchain technology, a new chapter in global finance is being written on-chain. In August this year, Ethereum’s on-chain trading volume surpassed $320 billion, reaching its highest level since mid-2021. Research also predicts that the decentralized finance (DeFi) sector will soar from $3.236 billion in 2025 to over $1.5 trillion by 2034. However, this potential has yet to be fully realized due to a series of issues emerging on decentralized platforms. These problems include "whale hunting," where large trades are front-run or exploited by sophisticated traders scanning the mempool. Such strategies result in billions of dollars in losses annually due to maximum extractable value (MEV) attacks and other manipulative behaviors. In addition, challenges such as smart contract vulnerabilities, compliance barriers on public chains, isolated on-chain ecosystems, and a lack of user-friendliness for ordinary users are also widespread. Grvt is the only player in the field with a solid first-mover advantage and technical infrastructure to change this status quo. This round of financing was co-led by Grvt’s core technology partner ZKsync and Abu Dhabi-based capital markets infrastructure investment firm Further Ventures. Further Ventures also led Grvt’s strategic investment round in December last year. Other investors include decentralized verifiable cloud platform EigenCloud (formerly EigenLayer), and 500 Global (formerly 500 Startups), a venture capital firm managing $2.3 billion in assets and focusing on global entrepreneurs. The majority of the funds raised will be used to accelerate Grvt’s multi-pronged product strategy, aiming to serve both active traders and passive investors. This unique approach is currently missing in the trading platform sector, thereby solidifying Grvt’s unique position to unify and dominate the fragmented on-chain financial landscape and bring it into the mainstream. Key product lines include: · Fixed Yield Generation Flywheel: The industry’s first yield tool that allows users to easily transfer funds between their funds, trading, and vault accounts to maximize returns. · Infrastructure: Continuously strengthening Grvt’s default privacy infrastructure, which is currently lacking in the industry. · Stablecoin Empowerment System: Robust stablecoin business foundation, including cross-platform vaults and real-world asset (RWA) integration. Strong Alliances Accelerate the On-Chain Finance Process Through zero-knowledge proof technology, combined with ZKsync technology that has been validated by institutions such as Deutsche Bank and UBS, Grvt is building a blockchain-native global model, showcasing the potential of ZK technology in finance, making everyday trading and investing safe, fast, private, and accessible to all. The ZKsync technology stack helps solve key bottlenecks in on-chain finance: · Privacy: Grvt is built on a ZKsync-based Validium Layer 2 blockchain, which verifies state without disclosing data, thus ensuring privacy and solving a long-standing problem for DeFi protocols. · Ethereum-level Security: Layer 2 transactions inherit Ethereum’s security through ZK proofs. All transaction batches are verified on Ethereum, and even if transactions are completed off-chain to improve speed and reduce costs, their validity is mathematically guaranteed. · Scalability: As a Layer 2 solution, ZKsync greatly improves scalability and can handle transaction volumes far beyond the Ethereum mainnet. · Accessibility: By processing transactions off-chain in batches and only submitting necessary proofs to Ethereum, settlement costs are significantly reduced, making trading cheaper. As a key investment arm for Abu Dhabi’s strategic blockchain layout, Further Ventures’ leading role further consolidates its critical position in the global development of on-chain finance. Meanwhile, the rapidly growing developer ecosystem EigenCloud provides Grvt with scale and security assurance. Its core product, EigenDA, is the preferred data availability solution for Ethereum Rollups. By anchoring data with a distributed validator network, it ensures that Grvt’s ZK technology stack is both verifiable and scalable. In the future, Grvt will also leverage EigenDA’s programmable privacy features to solve the long-standing conflict between data availability and privacy. Investor and Founding Team Comments · Grvt Co-founder and CEO Hong Yea: “Privacy is the uncompromisable cornerstone of the future of on-chain trading and investing. Grvt is building a privacy-centric, scalable, and trustless DEX, offering a variety of structured products that demonstrate how ZK solutions can become the new norm, driving an open and secure on-chain financial world. This financing is a strong endorsement of our vision.” · Matter Labs Co-founder and CEO Alex Gluchoski: “We believe ZK is the ‘HTTPS moment’ for the crypto industry. Just as HTTPS brought the internet mainstream by increasing trust and privacy, ZK will bring the same turning point to Web3. Grvt is uniquely positioned at the heart of this vision.” · Further Ventures Managing Partner Faisal Al Hammadi: “Further Ventures is committed to supporting the next generation of financial infrastructure. Grvt’s application of zero-knowledge proofs demonstrates how cutting-edge cryptography can underpin institutional-grade markets, and we are proud to work together to build a borderless financial system.” · Eigen Labs Founder and CEO Sreeram Kannan: “Verifiable data drives verifiable computation. As EigenDA reaches 100 MB/s, the bottleneck has shifted from data to computation. Grvt is tackling this frontier head-on, and their team’s strength and vision are highly aligned.” · 500 Global Partner Min Kim: “We firmly believe the next frontier of finance will be built on-chain, and privacy is key to unlocking its full potential. Grvt’s vision of combining ZK technology with institutional-grade infrastructure is highly consistent with our philosophy of supporting global entrepreneurs to reshape the financial system.” Looking Ahead Grvt is built on a foundation of multiple industry-first innovations—for example, offering a -1 basis point maker fee rebate for all orders, a benefit traditionally reserved for institutions. Its next step is to immediately launch a fixed income product, ensuring all users receive a 10% interest return. The flagship market-making strategy, Grvt Liquidity Provider (GLP), will also be launched, providing retail traders with a fund strategy offering high double-digit annual percentage returns (APR), a strategy previously out of reach for them. Against the backdrop of rapid industry growth, this financing establishes a solid multi-layered foundation. It combines cutting-edge technology, institutional-grade infrastructure, and a secure data framework to create a platform that cements its strong position in the increasingly crowded on-chain finance sector. About Grvt Grvt (pronounced “gravity”) is built on the ZKsync technology stack, providing private, trustless, scalable, and secure on-chain financial infrastructure. Through its decentralized trading platform (Grvt Exchange) and investment marketplace (Grvt Strategies), Grvt enables every user to trade and invest transparently alongside global professionals. This article is a contribution and does not represent the views of BlockBeats.
Large-scale ETH unstaking triggers a redemption wave, with the destination of $11.3 billion in funds becoming the focus
Ethereum co-founder Vitalik Buterin has commented on the increasingly severe issue of staking withdrawal queues, noting that the network's staking exit queue has now extended to over six weeks. On September 18, he posted on X, stating that this mechanism is a carefully considered design choice rather than a flaw, and compared it to military discipline. Buterin emphasized that staking is not a casual act but a commitment to safeguarding the network. From this perspective, friction mechanisms such as exit delays actually serve as safety guardrails. "If anyone in the army could suddenly leave at any time, the army would not be able to maintain cohesion," he wrote, pointing out that Ethereum's reliability depends on ensuring that validators cannot instantly abandon their duties. However, Buterin also acknowledged that the current design is not perfect. He explained: "This is not to say that the current staking queue design is the optimal solution, but if the threshold is blindly lowered, it would significantly reduce the credibility of the chain for any node that is not frequently online." Buterin's views coincide with those of EigenLayer restaking protocol founder Sreeram Kannan. In a post on September 17, Kannan referred to Ethereum's lengthy exit period as a "conservative parameter," considering it a crucial security measure. He explained that the waiting period can effectively guard against worst-case scenarios, such as validators coordinating attacks and participants attempting to exit collectively before facing slashing penalties. In light of this, Kannan warned: "Unstaking must never be instantaneous." He further explained that if the process were shortened to a few days, Ethereum could be exposed to attacks that exhaust its security assumptions. In contrast, a longer window allows for the detection and punishment of malicious behaviors such as double-signing, ensuring that malicious validators cannot easily evade responsibility. Kannan specifically pointed out that this buffer mechanism allows inactive nodes to reconnect and periodically verify the correct fork. He emphasized that without such a mechanism, competing forks could all claim legitimacy, making it impossible for offline nodes to determine authenticity when reconnecting. He concluded: "Ethereum does not adopt a fixed long-term unstaking mechanism, but is designed so that when a small amount of staking exits within a specific period, it can be processed instantly. However, if a large amount of staking applies to exit simultaneously, the queue will accumulate, and in the worst case, it could last for several months." This strong defense comes as Ethereum's exit queue hits a historic high. Data from the Ethereum validator queue shows that the current withdrawal backlog has reached 43 days, involving 2.48 million ETH (approximately $11.3 billion) waiting to be withdrawn.
ETH worth $11.3 billions is being unstaked—how does "V God" view this trend?
The reliability of Ethereum depends on ensuring that validators cannot instantly abandon their duties. Written by: Blockchain Knight Ethereum co-founder Vitalik Buterin has commented on the increasingly severe issue of staking withdrawal queues, as the network’s staking exit queue has now extended to over six weeks. On September 18, he posted on X, stating that this mechanism is a carefully considered design choice rather than a flaw, and compared it to military discipline. Buterin emphasized that staking is not a casual act but a commitment to safeguarding the network. From this perspective, friction mechanisms such as exit delays actually serve as security guardrails. “If anyone in the army could suddenly leave at any time, the army would not be able to maintain cohesion,” he wrote, pointing out that Ethereum’s reliability depends on ensuring that validators cannot instantly abandon their duties. However, Buterin also acknowledged that the current design is not perfect. He explained: “This is not to say that the current staking queue design is the optimal solution, but if the threshold is blindly lowered, the credibility of the chain would be greatly reduced for any node that is not frequently online.” Buterin’s view coincides with that of EigenLayer’s founder Sreeram Kannan. In a post on September 17, Kannan referred to Ethereum’s long exit period as a “conservative parameter,” considering it a crucial security measure. He explained that the waiting period can effectively guard against worst-case scenarios, such as coordinated validator attacks, where participants might attempt to exit collectively before facing slashing penalties. In light of this, Kannan warned: “Unstaking must never be instantaneous.” He further explained that shortening the process to a few days could expose Ethereum to attacks that exhaust its security assumptions. In contrast, a longer window allows for the detection and punishment of malicious behaviors such as double-signing, ensuring that malicious validators cannot easily evade responsibility. Kannan specifically pointed out that this buffer mechanism allows inactive nodes to reconnect and periodically verify the correct fork. He emphasized that without such a mechanism, competing forks could all claim legitimacy, making it impossible for offline nodes to determine authenticity when reconnecting. He concluded: “Ethereum does not adopt a fixed long-term unstaking mechanism, but is designed so that when a small amount of staking exits within a specific period, it can be processed instantly. However, if a large amount of staking applies to exit simultaneously, the queue will accumulate, and in the worst case, it could last for several months.” This strong defense comes as Ethereum’s exit queue reaches a historic high. According to Ethereum validator queue data, the current withdrawal backlog has reached 43 days, involving 2.48 million ETH (approximately 11.3 billions USD) waiting to be withdrawn.
Grvt has successfully raised a $19 million Series A funding round, with investors including ZKsync, Further Ventures, EigenCloud, among others, leadi
The on-chain privacy decentralized transaction platform Grvt, based on Zero Knowledge Proof (ZK) technology, announced today that it has completed a $19 million Series A funding round. This investment solidifies Grvt's position as a pioneer in the global future of finance and accelerates its mission to disrupt the existing fragmented on-chain financial ecosystem by addressing long-standing industry challenges such as privacy vulnerabilities, security, scalability, and usability. As Wall Street embraces blockchain technology, a new chapter in global finance is being written on-chain. In August of this year, Ethereum's on-chain transaction volume exceeded $320 billion, reaching its highest level since mid-2021. Research also predicts that the Decentralized Finance (DeFi) sector will surge from $323.6 billion in 2025 to over $15 trillion in 2034. However, despite the series of issues on decentralized platforms, this potential has not yet been fully realized. These issues include "whale hunting," where large transactions are front-run or exploited by sophisticated traders scanning the mempool. Such strategies result in billions of dollars in losses annually due to Maximum Extractable Value (MEV) attacks and other manipulative behaviors. Additionally, challenges such as smart contract vulnerabilities, compliance hurdles on public chains, isolated on-chain ecosystems, and a lack of user-friendliness for the average user are widespread. Grvt is the only participant in the field with a solid first-mover advantage and technological infrastructure to change this status quo. This round of funding was co-led by Grvt's core technology partner ZKsync and Abu Dhabi-based capital market infrastructure investment firm Further Ventures. Further Ventures previously led Grvt's strategic investment round in December of last year. Other participating investors include the decentralized verifiable cloud platform EigenCloud (formerly EigenLayer) and 500 Global (formerly 500 Startups), a venture capital firm managing $2.3 billion in assets and focusing on global entrepreneurs. Most of the raised funds will be used to accelerate Grvt's multi-pronged product strategy, aimed at serving both active traders and passive investors simultaneously. This unique approach is missing in the current trading platform space, thereby solidifying Grvt's unified and dominant position in the fragmented on-chain financial landscape and propelling it toward a mainstream unique position. Key product lines include: · Fixed Yield Generation Flywheel: The industry's first yield tool that allows users to easily transfer funds between their capital, trades, and treasury accounts to maximize returns. · Infrastructure: Continuously strengthen Grvt's default privacy infrastructure, which is currently lacking in the industry. · Stablecoin Empowerment System: Robust stablecoin business foundation, including cross-exchange treasury and real-world asset (RWA) integration. Strong Partnership, Accelerating On-chain Finance Progress Through zero-knowledge proof technology and leveraging ZKsync technology that has been conceptually validated by institutions such as Deutsche Bank and UBS, Grvt is building a blockchain-native global paradigm, showcasing the potential of ZK technology in the financial sector, making daily transactions and investments secure, fast, private, and inclusive. The ZKsync technology stack helps address key bottlenecks in on-chain finance: · Privacy: Grvt is built on a Validium second-layer blockchain based on ZKsync, keeping data private while maintaining verification state, ensuring privacy and addressing the long-standing challenge faced by DeFi protocols. · Ethereum-level Security: Second-layer transactions inherit Ethereum's security through ZK proofs. All transaction batches are verified on Ethereum, ensuring their validity through mathematical proofs even when transactions are settled off-chain to improve speed and reduce costs. · Scalability: As a second-layer solution, ZKsync significantly enhances scalability, able to process a much higher transaction volume than the Ethereum mainnet. · Accessibility: By batch processing off-chain and submitting only necessary proofs to Ethereum, settlement costs are significantly reduced, making transactions cheaper. As a strategic investor in Abu Dhabi's blockchain initiative, Further Ventures' lead position further solidifies its key role in the global development of on-chain finance. At the same time, the rapidly growing developer ecosystem EigenCloud provides scale and security for Grvt. Its core product EigenDA is the preferred data availability solution for Ethereum Rollups. By anchoring data with a distributed validator network, EigenDA ensures that Grvt's ZK technology stack is both verifiable and scalable. In the future, Grvt will also leverage EigenDA's programmable privacy features to address the long-standing conflict between data availability and privacy. Investor and Founder Team Comments · Grvt Co-founder and CEO Hong Yea: "Privacy is the uncompromising cornerstone of on-chain transactions and investments' future. Grvt is building a privacy-centric, scalable, and trustless DEX, offering diversified structured products, demonstrating how ZK solutions are becoming the new norm, driving an open and secure on-chain financial world. This funding round is a strong endorsement of our vision." · Matter Labs Co-Founder and CEO Alex Gluchoski: "We believe ZK is the 'HTTPS moment' for the encryption industry. Just as HTTPS mainstreamed the internet by increasing trust and privacy, ZK will bring a similar turning point to Web3. Grvt is uniquely positioned at the core of this vision." · Further Ventures Managing Partner Faisal Al Hammadi: "Further Ventures is committed to supporting the new generation of financial infrastructure. Grvt's application of zero-knowledge proofs showcases how cutting-edge cryptography supports institutional-grade markets, and we are proud to partner with them to build a borderless financial system." · Eigen Labs Founder and CEO Sreeram Kannan: "Verifiable data drives verifiable computation. With EigenDA reaching 100 MB/s, the bottleneck has shifted from data to computation. Grvt is tackling this frontier head-on, with its team's strength aligning closely with the vision." · 500 Global Partner Min Kim: "We firmly believe that the next frontier of finance will be built on-chain, with privacy being key to unlocking its full potential. Grvt's vision of combining ZK technology with institutional-grade infrastructure aligns well with our support for global entrepreneurs rebuilding the financial system." Looking Forward Grvt is built on a foundation of multiple industry-first innovations—such as offering a -1 basis point maker fee rebate for all orders, a benefit traditionally limited to institutions. Its next step is to immediately launch fixed-income products. This product will ensure all users receive a 10% interest rate return. We will also introduce the flagship market-making strategy, Grvt Liquidity Provider (GLP), which offers retail traders a high double-digit Annual Percentage Rate (APR) fund strategy, a category of strategy previously out of their reach. Against the backdrop of rapid industry growth, this financing round establishes a solid multi-tiered foundation. It combines cutting-edge technology, institutional-grade infrastructure, and a secure data framework to create a platform that solidifies its strong position in the increasingly crowded field of on-chain finance. About Grvt Grvt (pronounced "gravity") is built on the ZKsync technology stack, providing a privacy-preserving, trustless, scalable, and secure on-chain financial infrastructure. Through its decentralized exchange (Grvt Exchange) and investment marketplace (Grvt Strategies), Grvt enables every user to transparently trade and invest alongside global professionals. This article is contributed content and does not represent the views of BlockBeats.
3 Altcoins Crypto Whales Are Buying After Fed’s Rate Cut Decision
Altcoins targeted by crypto whales have suddenly come into focus following the Fed’s 25-bps rate cut. The move wasn’t a surprise, and more easing is expected ahead. Markets finally reacted today to the dovish outlook, but what stands out isn’t the usual gain-and-move trade. Instead, whales, the conviction players, are quietly building positions in a few select tokens. Their accumulation hints at potential upside ahead, backed by strong technicals and a low-rate outlook. EigenCloud (EIGEN) EigenLayer has rebranded its platform under the name EigenCloud, while the token continues to trade as EIGEN. The project is catching unusual attention, especially from big players, after the Fed’s recent rate cuts, making it one of the top altcoins crypto whales are buying right now. On-chain data shows whales have stepped in aggressively over the past 24 hours. Their holdings jumped 6.05%, now at 4.85 million EIGEN. Mega-whales also added, lifting balances by 0.1% to about 1.13 billion EIGEN. At today’s price of $2.04, whales picked up roughly 2,80,000 tokens ($837,000), while mega-whales added about 1.13 million ($2.04 million). EIGEN Whales In Action: Nansen This surge in whale buying could be tied to the broader rate environment. Lower interest rates are often seen as supportive for yield-focused platforms because investors look beyond traditional savings for higher returns. Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter On the charts, EIGEN has broken out of an ascending triangle with gains of over 33% in the past 24 hours, a bullish setup that points to continuation. If the price holds above the breakout level of $2.14, targets stretch toward $2.50 and even $3.20. EIGEN Price Action: TradingView Adding to the case, the Smart Money Index (SMI) — which tracks faster traders who look for short-term rebounds — is also rising. While not as aggressive as whale flows, this shows that active traders are positioning cautiously in the same direction, strengthening the overall breakout narrative. Still, risks remain. A dip under $1.73 would weaken the structure, and a move below $1.48 would invalidate the bullish outlook completely. Avantis (AVNT) Avantis is a newly launched token on Base that has quickly become one of the more talked-about plays after the Fed’s recent rate cuts. Over the past 24 hours, AVNT is up nearly 25%, with whales and top addresses piling in aggressively. On-chain data shows whales have boosted their holdings by 11.5%, now sitting at 1.08 million AVNT. That means they picked up about 111,390 tokens, worth around $125,800 at the current price of $1.13. The conviction looks stronger at the top-holder level: the top 100 addresses added 4.78 million tokens, a 0.49% rise, bringing their total to 979.44 million AVNT. In dollar terms, that’s roughly $5.4 million picked up in just one day. AVNT Whales: Nansen On the charts, AVNT is flashing a bullish flag and pole pattern on the 12-hour timeframe. While the setup points to a bold target near $6.30, that figure is best read as an upper extreme rather than a base case. For now, the more immediate level to watch is $1.58. A move above it would further validate the flag breakout and open the way for further upside, even if it falls short of the lofty target. AVNT Price Analysis: TradingView The Smart Money Index (SMI), which tracks fast-moving traders, has also climbed to 1.62. While this indicates growing interest, stronger confirmation of breakout momentum would occur if the SMI pushes above 1.88. That would signal short-term conviction aligning with whale activity. However, risks remain, too, as the bullish hypothesis would be undermined if the AVNT price dips below $0.77. That could push the dip to as low as $0.26, another bold point, but on the downside. Kamino Finance (KMNO) Kamino Finance, a decentralized finance (DeFi) protocol on Solana, has been seeing rising whale activity following the Fed’s recent rate cut. Known for its borrow-lend platform, Kamino Lend, and automated liquidity vaults, Kamino has quietly built momentum as investors search for yield in a lower-rate environment. On-chain data shows whales have stepped up in a big way over the past 24 hours. Their holdings climbed 35.9%, now sitting at 29.39 million KMNO. That means whales added about 7.77 million KMNO, worth roughly $629,000 at today’s price of $0.081. KMNO Tokens And Whale Positioning: Nansen Smart Money flows — traders who tend to act quickly on short-term opportunities — have also jumped, surging more than 1,200% over the same period. This confirms that not only long-term players but also faster-moving traders are positioning into the token. Adding to the case, the Bull-Bear Power (BBP) indicator, which measures the strength of buyers (bulls) versus sellers (bears), is showing that bull power continues to rise even after the latest red candle. This suggests that buyers remain firmly in control of the rally despite short-term pullbacks. On the charts, KMNO has broken out of an ascending channel, with targets stretching as high as $0.13 if momentum continues. But risks remain. If KMNO falls below $0.06, it would invalidate the bullish setup and suggest a deeper correction. Kamino Finance Price Analysis: TradingView The setup suggests that Kamino Finance may be one of the more interesting altcoins crypto whales are buying right now. With whales adding millions, Smart Money flows surging, and bull-bear power leaning strongly toward buyers, KMNO could extend its rally further — provided it holds above key support levels.
Vitalik Buterin defends 43 day Ethereum staking exit queue as $11.3B waits in line, what breaks next
Ethereum co-founder Vitalik Buterin has weighed in on the growing concerns over the network’s staking exit queue, which has now stretched to more than six weeks. In a Sept. 18 post on X, Buterin framed the process as a deliberate design choice rather than a flaw, comparing it to the discipline of military service. According to Buterin, staking is not a casual activity but a commitment to defend the network. In that light, frictions such as exit delays serve as safeguards. “An army cannot hold together if any percent of it can suddenly leave at any time,” he wrote, stressing that Ethereum’s reliability depends on ensuring validators cannot abandon their role instantaneously. However, Buterin conceded that the current design is not perfect. Nevertheless, he argued: “That’s not to say that the current staking queue design is optimal, rather that if you reduce the constants naively then that makes the chain much less trustworthy from the PoV of any node that does not go online very frequently.” Buterin’s remarks echoed the perspective of Sreeram Kannan, founder of restaking protocol EigenLayer. In his own post on Sept. 17, Kannan described Ethereum’s prolonged exit period as “a conservative parameter” that acts as a vital security measure. He explained that the wait time protects against worst-case scenarios, such as coordinated validator attacks where participants might attempt to exit before facing slashing penalties. Considering this, Kannan warned: “Unstaking cannot be instantaneous.” He continued that shortening the process to a matter of days could expose Ethereum to attacks that drain its security assumptions. By contrast, the longer window allows for detecting and punishing malicious behavior such as double-signing. This design ensures that misbehaving validators cannot easily escape accountability. Kannan highlighted that this buffer allows inactive nodes to reconnect and periodically validate the correct fork. He argued that competing forks could each claim to be valid without such a mechanism, leaving offline nodes unable to determine the truth when rejoining. He concluded: “Instead of having a fixed long unstaking period, ethereum engineered its exit queue to be instantaneous if only a small amount of stake withdrew in a given period. But if lot of stake wants to withdraw the queue builds up – worst case to several months.” This strong defense comes at a time when Ethereum’s exit queue has hit historic highs. Data from the Ethereum Validators Queue shows that the unstaking backlog now spans 43 days, with over 2.48 million ETH, valued at approximately $11.3 billion, awaiting withdrawal. The post Vitalik Buterin defends 43 day Ethereum staking exit queue as $11.3B waits in line, what breaks next appeared first on CryptoSlate.
ZKsync-based hybrid DEX GRVT raises $19 million Series A
GRVT, a hybrid decentralized exchange built on the Ethereum scaling layer ZKsync, has raised $19 million in Series A funding. The round was co-led by GRVT’s tech partner ZKsync and Further Ventures, the investment firm backed by Abu Dhabi's sovereign wealth fund that previously led a strategic investment round for the DEX. EigenCloud (formerly known as EigenLayer), a verifiable cloud platform for blockchain applications, and 500 Global are also notable leading backers, according to an announcement on Thursday. "The majority of the funds raised will be dedicated to product development and engineering," the team noted. GRVT (pronounced gravity) is a hybrid DeFi platform that blends the user experience and regulatory compliance of centralized exchanges (CEXs) with the self-custody, privacy, and decentralization of traditional DEXs, positioning itself as the world's first licensed and regulated onchain exchange. It operates as a kind of CeDeFi platform, blending elements of CeFi and DeFi, to create an open, inclusive financial ecosystem where users can trade cryptocurrencies, tokenized real-world assets, and other financial products in a compliant, scalable, and self-custodial environment. "We believe the next frontier of finance will be built onchain, and privacy is a foundational element to unlock its full potential," General Partner at 500 Global Min Kim said. "GRVT’s vision of combining ZK technology with institutional-grade infrastructure aligns strongly with our thesis of backing global founders who are re-architecting core financial systems." GRVT's mainnet alpha launched in late 2024 on the Ethereum Layer 2 network ZKsync. The platform was initially geared towards crypto perpetual trading, but has since expanded into crypto spot and options trading this year. Hong Yea, CEO of GRVT, previously told The Block the startup was pursuing licenses to operate in multiple jurisdictions, including updating its Bermuda crypto business license to operate as a DEX, as well as applying for the EU’s Markets in Crypto-Assets (MiCA) license, Virtual Assets Regulatory Authority license in Dubai, and a capital markets license in Abu Dhabi Global Market (ADGM). It reportedly acquired a virtual asset service provider (VASP) license in Lithuania as early as 2023 . The platform has open interest of about $9 million and $126 million in 24-hour trading volume, according to CoinGecko . With the new capital, GRVT plans to scale its product offerings, including cross-exchange vaults, cross-chain interoperability, options markets, RWAs, and more, the team said. It also plans to tap into EigenDA’s programmable privacy features, a data availability solution used by blockchain apps.
Boundless launches mainnet for verifiable computing, backed by Ethereum Foundation and Base
Key Takeaways Boundless has officially launched its mainnet, enabling decentralized verifiable computing across blockchains. The solution is powered by a Proof of Verifiable Work incentive mechanism, utilizing ZK Coin (ZKC), the native token of Boundless, as an incentive. Share this article Boundless launched its mainnet today to enable verifiable computing across blockchains through its decentralized zero-knowledge protocol. The platform uses a Proof of Verifiable Work incentive mechanism with ZK Coin (ZKC), the native token of Boundless, to operate its network. The protocol has received backing from the Ethereum Foundation, Base, Wormhole, and EigenLayer. More than 30 protocols have integrated Boundless’s proof capabilities since its development, according to the company. The mainnet launch marks the protocol’s transition from development to full operational status for cross-blockchain verifiable computing applications. Share this article
Waller rises: Small-town professor becomes a top candidate for Federal Reserve Chair, with a probability as high as 30%
Author: Ethan (@ethanzhang_web3), Odaily Original Title: Probability as High as 30%, Small Town Professor Waller Becomes the Hottest Candidate for Federal Reserve Chair In the early morning of September 12, East 8th District time, the US federal funds rate market sent a highly explicit signal: the probability that the Federal Reserve will cut rates by 25 basis points at this month's FOMC meeting has reached as high as 93.9%. After five consecutive "holds," the market has finally ushered in a directional shift in monetary policy. Meanwhile, another bet concerning the direction of the Fed over the next two years is quietly advancing: Who will succeed Powell as the next Federal Reserve Chair? On the decentralized prediction platform Polymarket, as of the same day, current Fed Governor Christopher Waller leads the pack with a 30% probability, ahead of the other two "Kevin faction" contenders—Hassett (16%) and Walsh (15%). However, the market also retains a more dramatic possibility: "Trump will not announce a successor before the end of the year" remains the top probability at 41%. This series of data shows that the market is betting in two directions simultaneously: one is the now-consensus path of rate cuts, and the other is the still-uncertain contest for the monetary helm. Between these two, Waller's name repeatedly appears in various trading perspectives and policy games. Why Has the Market Started to "Believe in Waller"? The story of an "atypical Fed Governor": How did a small-town professor get pushed to the forefront? Waller's background and resume stand out in the Fed system. He did not come from the Ivy League, nor did he hold key positions at Goldman Sachs or Morgan Stanley; he was born in a small town in Nebraska with a population of less than 8,000. Starting from Bemidji State University, he earned a bachelor's degree in economics. In 1985, he obtained a Ph.D. in economics from Washington State University and began a long academic career, teaching and researching at Indiana University, the University of Kentucky, and the University of Notre Dame for a total of 24 years. He then spent 24 years in academia researching monetary theory, focusing mainly on central bank independence, tenure systems, and market coordination mechanisms. In 2009, he left academia to join the St. Louis Fed as Director of Research. It wasn't until 2019 that he was nominated by Trump to the Federal Reserve Board of Governors—a nomination process full of controversy and a confirmation that was not smooth. Ultimately, on December 3, 2020, the Senate approved his appointment by a narrow margin of 48:47. Entering the Fed's highest decision-making body at the age of 61, Waller is older than most governors, but this has become an advantage: he has fewer burdens, owes no favors to Wall Street, and having worked at the St. Louis Fed, he knows the Fed is not monolithic—different voices are not only tolerated but sometimes encouraged. This path allows him to have professional judgment while retaining the freedom to express himself, without being categorized as a spokesperson for any faction. From Trump's perspective, such a person may be easier to "use as is"; in the eyes of the market, such a candidate means "less uncertainty." However, in a game of power transition intertwined with bureaucracy and political will, Waller is not the kind of candidate naturally favored by the market. His career trajectory is relatively academic and technical, not known for public rhetoric, nor does he frequently appear on financial television. Yet it is precisely this kind of person who has gradually become the "consensus candidate" frequently mentioned in various market tools and political commentaries. The reason lies in his triple compatibility: First, his monetary policy style is flexible but not speculative. Waller is neither a typical "inflation hawk" nor a proponent of monetary easing. He advocates that policy should move with economic conditions: in 2019, he supported preemptive rate cuts to avert recession; in 2022, he favored rapid rate hikes to curb inflation; and in 2025, against the backdrop of economic slowdown and falling inflation, he was among the first Fed governors to vote for rate cuts. This "non-ideological" policy style is particularly scarce in the current highly politicized Fed landscape. Second, his political relationships are clear, and his technical image is extremely clean. Waller was nominated by Trump in 2020 as a Fed governor and is one of the few monetary policy officials within the Republican system who can achieve "technical neutrality" and "political compatibility." He is neither seen as "Trump's confidant" nor rejected by the party establishment. This unique middle-ground positioning gives him broader political maneuvering space amid fierce partisan competition. Unlike Hassett, who has a clear stance and strong factional colors, or Walsh, who has close ties to Wall Street, Waller displays a purer technocratic quality. He is more easily seen as "a trustworthy professional." In the context of highly polarized American politics, this de-ideologized, professionally competent image makes him a stable and easily accepted appointee by all sides. Third, his attitude toward crypto technology is "tolerant" within the system. Waller is not a so-called "crypto believer," but he is one of the most vocal people in the Fed system on topics such as stablecoins, AI payments, and tokenization. He does not advocate government-led innovation and opposes CBDC, but supports private stablecoins as tools to improve payment efficiency, proposing that "the government should build the infrastructure like highways, and leave the rest to the market." Between traditional finance and digital assets, compared to the other two candidates, he may be the only Fed official to clearly send a "public-private collaboration" signal. Sensitivity and Sense of Timing: He Knows When to Speak and When to Stay Silent This July, the Fed held its summer FOMC meeting. Although the market generally expected rates to "remain unchanged," the meeting saw a rare scene: Waller and Michelle Bowman, two governors, cast dissenting votes, advocating for an immediate 25 basis point rate cut. Such "minority dissent" is uncommon within the Fed. The last similar situation occurred in 1993. Two weeks before the vote, Waller had already expressed his position at a central bank seminar at New York University. His public speech clearly advocated that "current economic data supports moderate rate cuts." On the surface, this was a technical "advance communication"; but in terms of timing, it was a release of political signals. At the time, Trump had a love-hate relationship with Powell, repeatedly attacking him on Truth Social and demanding "immediate rate cuts." Waller's vote and speech neither fully aligned with the president nor provided cover for Powell. He stood perfectly between "policy adjustment" and "technical independence." In a highly politicized Fed environment, a governor who can strike such a balance and knows when to make a statement appears to have more leadership qualities. Trump criticizes Powell for "poor and incompetent" performance in managing the construction of the Federal Reserve building If He Takes Office, How Should the Crypto Market React? For the crypto market, "who steers the Fed" has never been mere gossip, but a triple reflection of policy expectations, market sentiment, and regulatory pathways. If this time, Waller really becomes the Chair, we need to seriously consider how three types of players will reprice the future. First, for stablecoin issuers and the compliance track, it is the large-scale opening of a "regulatory dialogue window" Waller has repeatedly made it clear in speeches that he opposes central bank digital currency (CBDC), saying it "cannot solve the market failures of the current payment system," and instead emphasizes the advantages of private stablecoins (such as USDC, DAI, PayPal USD, etc.) in improving payment efficiency and cross-border settlement. He stresses that regulation should come from "congressional legislation rather than agency overreach," calling for "these new technologies not to be stigmatized." This means that if he becomes Chair, projects like Circle, MakerDAO, and Ethena may usher in a "period of institutional path certainty," no longer always in the gray area between the SEC and CFTC. More importantly, Waller's philosophy of "market-led, government paving the way" may prompt the Treasury, FDIC, and other supporting agencies to jointly develop a stablecoin regulatory framework, promoting the implementation of policies such as "licensing, reserve standardization, and information disclosure standardization." Second, for main chain assets like BTC and ETH, it is a "sentiment boost + regulatory easing" mid-term umbrella Although Waller has not publicly praised bitcoin or ethereum, he stated in 2024: "The Fed should not pick sides for the market." Although brief, this means the Fed will not actively "suppress non-dollar systems" as long as they do not touch the bottom lines of payment sovereignty and systemic risk. This will provide BTC and ETH with a window of "relatively mild regulatory cycle." Even if the SEC may still question their security attributes, if the Fed does not push for CBDC, does not block crypto payments, and does not intervene in on-chain activities, then market speculation and risk appetite will naturally improve. Simply put, in the "Waller era," bitcoin may not receive "official endorsement," but will enjoy the natural benefit of "regulatory tailwinds easing." Third, for developers and DeFi native innovators, it is a rare window of "central bank dialogue partner" Waller has mentioned "AI payments," "smart contracts," and "distributed ledger technology" on multiple occasions this year, stating: "We may not necessarily adopt these technologies, but we must understand them." This stance is completely different from many regulators who avoid or denigrate crypto technology. This opens up an extremely important space for developers: not necessarily to be accepted, but at least no longer to be excluded. From Libra to USDC, from EigenLayer to Visa Crypto, generations of developers and central bank regulators have been stuck in an "awkward parallel universe." If Waller takes office, the Fed may become the first central bank leader "willing to talk to DeFi natives." In other words, crypto developers may usher in a starting moment for "policy negotiation rights" and "financial discourse power." Conclusion: Prediction Markets Price the Future, Chair Candidates Price the Direction Whether "Waller will be the new Chair" is still undetermined. But the market has already started trading on "how he would price the future if he became Chair." And the prediction market's 31% bet on him continues to climb, far surpassing his competitors. At this juncture, what is certain is that rate cut expectations are moving toward realization; the crypto industry is seeking a policy breakthrough; and dollar assets are in a global "US Treasury issuance increase – high interest rates – risk appetite recovery" triangular game. As a "successor" who is politically acceptable, policy predictable, and market-imaginable, Waller naturally becomes the focus of bets. But perhaps there is another topic worth watching: If he ultimately does not become Fed Chair, how will the market readjust these expectations? And if he really takes office—perhaps the "next-generation dollar system" ranking race is just beginning.
Ethereum May Become Wall Street’s Settlement Backbone as Institutional Adoption Grows
Ethereum settlement systems are a blockchain-based alternative to Wall Street clearing that enable atomic settlement, reduce counterparty risk, and finalize trades in seconds. Institutions can use ETH staking and smart contracts to streamline collateral, settlement and post-trade processing. Atomic settlement finalizes trades in seconds, eliminating counterparty risk. Programmable smart contracts enable instant dividend payouts and composable trading. Institutional adoption accelerated after Ethereum ETFs; corporate treasuries hold ~$14–15B in ETH (est.). Ethereum settlement systems: Discover how ETH could replace Wall Street clearing with faster, atomic settlement and lower costs. Read expert analysis and next steps. What is the potential of Ethereum settlement systems? Ethereum settlement systems are blockchain-based frameworks that replace multiday clearing with atomic, on-chain settlement. They finalize transfers in seconds, cut counterparty risk and reduce intermediaries’ fees by using smart contracts and staking as trust and collateral mechanisms. How does atomic settlement reduce Wall Street friction? Atomic settlement executes transfer of asset and payment simultaneously. This removes the settlement lag that forces collateral postings and creates counterparty exposure. As a result, settlement finality is achieved within seconds and reconciliation costs fall dramatically. Why would institutions adopt Ethereum over legacy settlement rails? Institutions adopt when the business case is clear: lower operating costs, faster cash reuse, and composability enabling new financial products. Ethereum’s programmable layer supports yield generation (staking), instant portfolio rebalancing, and native automation for corporate treasuries. How are experts describing Ethereum’s role in global finance? Industry leaders like Joseph Chalom (SharpLink) and Sreeram Kannan (EigenLayer) describe Ethereum as a new category of public infrastructure and a platform for verifiable trust. They argue ETH’s guarantees and extensible security model can underpin settlement, verification for AI, and decentralized markets. How does Ethereum enable programmable finance? Smart contracts on Ethereum automate settlement logic: dividends, collateral management and cross-asset composition run without manual reconciliation. This reduces operational frictions and creates permissionless composability between financial primitives. When did institutional flows accelerate into Ethereum? Institutional momentum strengthened after the launch of Ethereum ETFs in July 2024. Corporate treasury disclosures and market estimates suggest roughly $14–15 billion in ETH held by institutions, with staking and DeFi yield as primary drivers. Frequently Asked Questions What are the measurable benefits of switching to Ethereum settlement? Measured benefits include settlement time reduced from 1+ days to seconds, lower collateral requirements, fewer intermediaries and lower reconciliation costs. These gains improve liquidity efficiency and reduce operational risk. Who are the key technology proponents? Industry proponents include SharpLink (Joseph Chalom) and EigenLayer (Sreeram Kannan). Independent protocol projects and exchanges are also testing settlement primitives and tokenized asset workflows. Key Takeaways Speed: Atomic on-chain settlement finalizes trades in seconds. Trust: Cryptographic guarantees reduce reliance on institutional promises. Adoption: Ethereum ETFs and corporate treasury accumulation accelerate institutional interest; pilots are the next step. Conclusion Ethereum settlement systems present a credible alternative to legacy Wall Street clearing by delivering atomic settlement, programmable finance and reduced counterparty risk. As institutions pilot tokenized assets and integrate custody workflows, ETH’s infrastructure could become the backbone of future settlement systems. Follow institutional pilots and protocol audits to track real-world adoption. Author: Alexander Zdravkov — Reporter, COINOTAG Published: 16 September 2025 | 09:17 Notes: Quotes referenced from a Sept. 15 podcast appearance by Joseph Chalom (SharpLink) and Sreeram Kannan (EigenLayer). Sources: industry statements and public ETF filings (plain text references). In Case You Missed It: Tron’s Stablecoin-Driven Revenue May Be Reinforcing Its Market Dominance
Ethereum is poised to replace Wall Street infrastructure but remains undervalued
Ethereum represents an "emerging, fundamentally new type of public infrastructure, almost like the internet in the Web1 era, and is an investment category." Written by: Blockchain Knight Investors have yet to fully recognize Ethereum’s (ETH) potential to replace Wall Street’s outdated settlement infrastructure, a point discussed by SharpLink CEO Joseph Chalom and EigenLayer founder Sreeram Kannan on the September 15 episode of the Milk Road podcast. Chalom, who previously led BlackRock’s digital asset initiatives, outlined the fundamental frictions present in traditional finance. The current system requires settlement cycles that take several days, introduces counterparty risk, and forces market participants to post collateral for overnight financing, while intermediaries profit from these inefficiencies. He stated: "The current ecosystem is quite inaccessible and full of friction, with intermediaries collecting rent within it." The SharpLink CEO then contrasted this situation with Ethereum’s atomic settlement capabilities, which can execute trades within seconds and without counterparty risk. He believes Ethereum represents "an emerging, fundamentally new type of public infrastructure, almost like the internet in the Web1 era, and is an investment category." He positions the blockchain as a universal settlement layer for financial and economic systems. Ethereum’s programmability enables portfolio rebalancing via smart contracts, dividend distribution in minutes instead of days, and composable trading, allowing any asset to be traded with any other asset at any time. Chalom described these capabilities as the "winning formula" for institutions seeking to surpass the efficiency of current systems. Kannan extended this vision beyond finance, describing Ethereum as a "platform for verifiable trust," resolving counterparty risk through cryptographic verification rather than institutional guarantees. He noted that EigenLayer enables Ethereum to support networks beyond its base protocol, explaining: "Verifiability is the cornerstone of society itself." He cited examples such as AI agent verification, prediction markets like Polymarket, and autonomous systems that require trust without human supervision. Both executives emphasized that institutional investors are undergoing a shift from education to acceptance. Chalom pointed out that while bitcoin requires an explanation of the digital gold concept, Ethereum requires a deeper explanation of infrastructure, which takes more time but leads to stronger conviction once understood. The launch of the Ethereum ETF in July 2024 marks a turning point in acceptance, with financial management firms currently accumulating approximately $14-15 billions worth of ETH holdings. Chalom predicts that as institutional participants recognize Ethereum’s productive asset characteristics through staking and DeFi yields, its accumulation rate will surpass that of MicroStrategy’s accumulation of bitcoin.
Ethereum positioned to replace Wall Street infrastructure, yet remains undervalued by investors
Investors have not priced in Ethereum’s (ETH) potential to replace Wall Street’s outdated settlement infrastructure, according to SharpLink CEO Joseph Chalom and EigenLayer founder Sreeram Kannan. During a Sept. 15 Milk Road podcast discussion, Chalom, who previously led BlackRock’s digital asset initiatives, outlined the fundamental friction plaguing traditional finance. Current systems require day-long settlement periods, create counterparty risks, and force market participants to post collateral for overnight financing while intermediaries extract rents from these inefficiencies. He stated: “The current ecosystem is pretty inaccessible and filled with friction where intermediaries are taking rents.” SharpLink CEO then contrasted the dynamic with Ethereum’s atomic settlement capabilities that execute trades in seconds without counterparty risk. He also argued that Ethereum represents “an emerging fundamental new kind of public infrastructure, almost like Web1, where the internet was a category of investments.” He positioned the blockchain as a universal settlement layer for both financial and economic systems. Programmable finance transformation Ethereum’s programmable nature enables portfolio rebalancing through smart contracts, dividend distribution in minutes rather than days, and composable transactions, allowing any asset to trade against any other asset at any time. These capabilities create what Chalom described as “the license to win” for institutions seeking efficiency over current systems. Kannan extended this vision beyond finance, describing Ethereum as “the platform for verifiable trust” that solves counterparty risk through cryptographic verification, rather than relying on institutional guarantees. He noted that EigenLayer enables Ethereum to power additional networks beyond the base protocol, and explained: “Verifiability is the substrate of society itself.” Kannan mentioned applications in AI agent verification, prediction markets like Polymarket, and autonomous systems requiring trust without human oversight as examples. Infrastructure investment timing Both executives emphasized the education-to-adoption transition occurring among institutional investors. Chalom noted that while Bitcoin required explaining digital gold concepts, Ethereum demanded deeper infrastructure explanations that took more time but generated stronger conviction once understood. The launch of Ethereum ETFs in July 2024 marked an adoption inflection point, with treasury companies now accumulating approximately $14-15 billion in ETH holdings. Chalom predicted acceleration beyond Strategy’s Bitcoin accumulation pace as institutional players recognize Ethereum’s productive asset characteristics through staking and DeFi yields. The post Ethereum positioned to replace Wall Street infrastructure, yet remains undervalued by investors appeared first on CryptoSlate.
Academic faction makes a comeback, small-town professor Waller becomes the hottest candidate for Federal Reserve Chair
Author: Ethan, Odaily In the early morning of September 12, East 8th District time, the US federal funds rate market sent a highly explicit signal: the probability that the Federal Reserve will cut interest rates by 25 basis points at this month's policy meeting has reached as high as 93.9%. After five consecutive “holds,” the market has finally welcomed a directional shift in monetary policy. Meanwhile, another bet concerning the direction of the Fed over the next two years is quietly advancing: Who will succeed Powell as the next Fed Chair? On the decentralized prediction platform Polymarket, as of the same day, current Fed Governor Christopher Waller leads with a 30% probability, ahead of the other two “Kevin faction” contenders—Hassett (16%) and Warsh (15%). However, the market also retains a more dramatic possibility: the probability that “Trump will not announce a successor before the end of the year” still ranks first, as high as 41%. This series of data indicates that the market is betting in two directions simultaneously: one is the already consensus path of rate cuts, and the other is the still uncertain contest for the monetary helm. And between these two, Waller’s name repeatedly appears in various trading perspectives and policy games. Why has the market started to “believe in Waller”? The story of an “atypical Fed Governor”: How did a small-town professor come to the forefront? Waller’s background and resume stand out in the Fed system. He did not come from the Ivy League, nor did he hold key positions at Goldman Sachs or Morgan Stanley; he was born in a small town in Nebraska with a population of less than 8,000. Starting from Bemidji State University, he earned a bachelor’s degree in economics. In 1985, he received his PhD in economics from Washington State University and began a long academic career, teaching and researching at Indiana University, the University of Kentucky, and the University of Notre Dame for a total of 24 years. He then spent 24 years in academia researching monetary theory, focusing mainly on central bank independence, tenure systems, and market coordination mechanisms. In 2009, he left academia to join the St. Louis Fed as Director of Research. Until 2019, he was nominated by Trump to join the Federal Reserve Board of Governors—a nomination process full of controversy and a confirmation process that was not smooth. But finally, on December 3, 2020, the Senate confirmed his appointment by a narrow margin of 48:47. Entering the Fed’s highest decision-making body at the age of 61, Waller is older than most governors, but this has become an advantage: he has fewer burdens, owes no favors to Wall Street, and, having worked at the St. Louis Fed, knows that the Fed is not monolithic—different voices are not only tolerated but sometimes encouraged. This path allows him to have professional judgment while retaining the freedom to express himself, without being categorized as a spokesperson for any faction. In Trump’s view, such a person may be easier to “put to use”; in the eyes of the market, such a candidate means “less uncertainty.” But in a game of power transition intertwined with bureaucracy and political will, Waller is not the kind of candidate naturally favored by the market. His career trajectory is relatively academic and technical, not known for public rhetoric, nor does he frequently appear on financial television. Yet it is precisely such a person who has gradually become the “consensus candidate” frequently mentioned in various market tools and political commentary. The reason lies in his triple compatibility: First, his monetary policy style is flexible but not speculative. Waller is neither a typical “inflation hawk” nor a proponent of monetary easing. He advocates that policy should move with economic conditions: in 2019, he supported preemptive rate cuts to stave off recession; in 2022, he favored rapid rate hikes to curb inflation; and in 2025, amid economic slowdown and falling inflation, he was among the first Fed governors to vote for rate cuts. This “non-ideological” policy style stands out as rare in today’s highly politicized Fed landscape. Second, his political relationships are clear, and his technical image is extremely clean. Waller was nominated by Trump in 2020 to be a Fed governor, making him one of the few monetary policy officials within the Republican system who can achieve “technical neutrality” and “political compatibility.” He is neither seen as “Trump’s confidant” nor rejected by the party establishment. This unique middle-ground positioning gives him broader political maneuvering space amid fierce partisan competition. Unlike Hassett, who has a clear stance and strong factional color, or Warsh, who has close ties to Wall Street, Waller displays a purer technocratic quality. He is more easily seen as “a trustworthy professional,” and in the context of highly polarized American politics, this de-ideologized, competence-based image makes him a stable and broadly acceptable appointment. Third, his attitude toward crypto technology is “tolerant” within the system. Waller is not a so-called “crypto believer,” but he is one of the most vocal people in the Fed system on topics such as stablecoins, AI payments, and tokenization. He does not advocate government-led innovation and opposes CBDC, but supports private stablecoins as tools to improve payment efficiency, proposing that “the government should build the underlying infrastructure like highways, and leave the rest to the market.” Between traditional finance and digital assets, compared to the other two candidates, he may be the only Fed official to clearly send a “public-private collaboration” signal. Sensitivity and sense of timing: He knows when to speak and when to keep quiet This July, the Fed held its summer FOMC meeting. Although the market generally expected to “keep rates unchanged,” the meeting saw a rare occurrence: Waller and Michelle Bowman cast dissenting votes, advocating for an immediate 25 basis point rate cut. Such “minority dissent” is uncommon within the Fed. The last time a similar situation occurred was in 1993. Two weeks before the vote, Waller had already expressed his position at a central bank seminar at New York University. His public speech clearly advocated that “current economic data supports a moderate rate cut.” On the surface, this was a technical “advance communication”; but in terms of timing, it was a release of a political signal. At the time, Trump had a love-hate relationship with Powell, repeatedly attacking him on Truth Social and demanding “immediate rate cuts.” Waller’s vote and speech neither fully aligned with the president nor provided cover for Powell. He stood precisely between “policy adjustment” and “technical independence.” In a highly politicized Fed environment, a governor who can strike this balance and knows when to make a statement appears to have more leadership qualities. Trump criticizes Powell for “poor and incompetent” management of the Fed building construction If he takes office, how should the crypto market react? For the crypto market, “who steers the Fed” has never been mere gossip, but a triple reflection of policy expectations, market sentiment, and regulatory pathways. If this time, Waller really becomes chair, we need to seriously consider how three types of players will reprice the future. First, for stablecoin issuers and the compliance track, it is the large-scale opening of a “regulatory dialogue window” Waller has repeatedly made it clear in speeches that he opposes central bank digital currencies (CBDC), saying they “cannot solve the market failures of the existing payment system,” and instead emphasizes the advantages of private stablecoins (such as USDC, DAI, PayPal USD, etc.) in improving payment efficiency and cross-border settlement. He stresses that regulation should come from “legislation by Congress, not agency expansion,” and calls for “these new technologies not to be stigmatized.” This means that if he becomes chair, projects like Circle, MakerDAO, Ethena, etc., may usher in a “period of regulatory certainty,” no longer always stuck in the gray area between the SEC and CFTC. More importantly, Waller’s philosophy of “market-led, government paving the way” may prompt the Treasury, FDIC, and other supporting agencies to jointly develop a stablecoin regulatory framework, promoting the implementation of policies such as “licensing, reserve standardization, and information disclosure standardization.” Second, for main chain assets like BTC and ETH, it is a “mid-term protection umbrella” of positive sentiment and regulatory easing Although Waller has not publicly praised Bitcoin or Ethereum, he stated in 2024: “The Fed should not take sides in the market.” This brief statement means that the Fed will not actively “suppress non-dollar systems” as long as they do not touch the bottom lines of payment sovereignty and systemic risk. This will provide BTC and ETH with a “relatively mild regulatory cycle” window. Even if the SEC may still question their securities attributes, if the Fed does not push CBDC, does not block crypto payments, and does not intervene in on-chain activities, then market speculation and risk appetite will naturally improve. In short, in the “Waller era,” Bitcoin may not receive “official endorsement,” but will enjoy the natural benefit of “regulatory tailwinds loosening.” Third, for developers and DeFi native innovators, it is a rare window of “central bank dialogue partner” Waller has mentioned “AI payments,” “smart contracts,” and “distributed ledger technology” on multiple occasions this year, stating: “We may not necessarily adopt these technologies, but we must understand them.” This stance is in stark contrast to many regulators who avoid or denigrate crypto technology. This opens up an extremely important space for developers: not necessarily to be accepted, but at least no longer to be excluded. From Libra to USDC, from EigenLayer to Visa Crypto, generation after generation of developers and central bank regulators have been stuck in an “awkward parallel universe.” If Waller takes office, the Fed may become the first central bank leader “willing to talk to DeFi natives.” In other words, crypto developers may usher in a starting moment for “policy negotiation rights” and “financial discourse power.” Conclusion: Prediction markets price the future, the chair candidate prices the direction Whether “Waller will be the new chair” is still undetermined. But the market has already started trading on “how he would price the future if he became chair.” And the prediction market’s 31% bet on him continues to climb, far surpassing his competitors. At this juncture, it is certain that rate cut expectations are moving toward realization; the crypto industry is seeking a policy breakthrough; and US dollar assets are in a global “US Treasury issuance increase—high interest rates—risk appetite recovery” triangular game. As a politically acceptable, policy predictable, and market-imaginable “successor,” Waller has naturally become the focus of bets. But perhaps there is another topic worth watching: If he ultimately does not become Fed Chair, how will the market readjust these expectations? And if he really takes office—perhaps the “next-generation US dollar system” race has only just begun. Hot Event Tracking and Interpretation: This topic mainly tracks and interprets hot events in the blockchain industry. Special Topic
Ethereum Devs Are Underpaid by Over 50%: Report
A new report from Protocol Guild has shown that Ethereum’s core developers are being paid far below industry standards. The survey collected responses from 111 out of 190 Guild members and found that most are earning 50% to 60% less than their peers in similar roles. Compensation Gap Median salaries for surveyed Ethereum developers came in at about $140,000, compared with offers averaging $300,000 at rival projects. The report also detailed pay by area of focus, with average salaries at $130,000 for client developers, $215,000 for researchers, and $130,000 for coordination roles. Additionally, these contributors said that they don’t get any equity or token exposure from their employers. The general allocation was $0, with only 37% of respondents receiving anything. On the other hand, final-stage offers made to their peers at rival organizations in the past year included a median equity or token share of 6.5%. This ranges from cofounder-level allocations of 10% to 30% to early employee grants of 0.1% to 3%. The gap has created pressure; almost 40% of respondents have received outside job offers in the past year. In total, 108 were disclosed across 42 individuals, with the average package reaching $359,000. Some developers said they had been offered as much as $700,000 to move elsewhere. Closing the Pay Disparity Established in 2022, Protocol Guild has become a lifeline for such developers. Backed by the “1% Pledge” from projects including EigenLayer, Ether.fi, Taiko, and Puffer, the group has distributed over $33 million since launch. VanEck also pledged 10% of profits from its spot Ether ETF to the initiative in 2023. Over the last 12 months, the average Guild member received $66,000 through this funding, while the median distribution was $74,285. That support represented nearly one-third of total annual compensation for many employees, with the mean pay rising from $140,000 to $207,121. Survey responses show how important this extra support has been, with 59% of participants rating Guild funding as “very” or “extremely important” to their ability to keep working on Ethereum. The network has secured nearly $1 trillion in value, serves millions of users, and powers thousands of applications reliant on key upgrades. Protocol Guild warned that inadequate compensation puts Ethereum at risk by undermining developer retention, slowing progress on the roadmap, and threatening long-term neutrality. The group also emphasized that aligning pay with market rates is important to keep talent in place and ensure the ecosystem’s future growth.
Ronin OP Stack receives $5-7 million in grants for adopting OP Stack
On September 11th, Ronin stated in a blog post that by integrating OPStack, the project will receive a milestone grant of $5-7 million from Optimism Foundation, Eigen Labs, Boundless Foundation in the form of tokens such as OP, ZKC, EIGEN. Earlier last week, Ronin governance validators officially voted to adopt Optimism's OP Stack as the Ethereum layer 2 scaling solution.
Ethereum core developers are earning less than half market rates, report shows
A new compensation report from the Protocol Guild (PG) shows that most Ethereum core developers work for less than half of what they could earn elsewhere. The survey, which gathered responses from 111 of the group’s 190 members across 11 organizations, paints the clearest picture yet of how underpaid the builders of Ethereum’s core infrastructure remain. According to the findings, the typical Ethereum core contributor earns an average of $157,939, which is around 60% below the average $359,074 market compensation offered by competing firms. Notably, these developers are also provided with little or no equity or token incentives, while the median competing firm offers around 7% equity grant. The report furthered that nearly 40% of respondents received final job offers from other companies within the past year, highlighting how competitive the talent market has become. However, many of these core contributors continue to turn down higher-paying roles to remain focused on maintaining the Ethereum network. Speaking about these numbers, Ethereum developer Phil Ngo described core contributors as “selfless people” working under financial strain because they believe in building a financial system not ruled by traditional gatekeepers. According to him: “Most I know are foregoing the money because they believe in somETHing. That something is a world not ruled by the TradFi status quo, that nobody alone, nor a cartelized group of people can change the system.” Risk for Ethereum However, the report warned that this underpayment poses long-term risks to the blockchain network. According to the report, Ethereum’s technical roadmap depends on retaining top-tier talent, but the lack of competitive compensation threatens both retention and execution. Several industry experts shared this view, pointing out that Ethereum is the second-largest blockchain network and is playing a significant role in the evolution of the financial industry. Considering this significant role, they noted that the developers should be well compensated to avoid jeopardizing Ethereum’s “credible neutrality.” Ngo said: “I wholeheartedly agree that it is unacceptable to pay half the market rate of an equivalent engineer to literally keep a $400 billion network alive and decentralized.” Legal expert Gabriel Shapiro agreed, arguing that developers should share in the upside of the network they secure. As a result, he suggested paying contributors partly in locked ETH, while stressing that: “Relying on the next Eigenlayer to make a token donation to Protocol Guild is not a strategy.” The post Ethereum core developers are earning less than half market rates, report shows appeared first on CryptoSlate.
[Long Tweet] Interpreting the EigenCloud Architecture: Attempting to Achieve a Verifiable Combination of Cryptography and AI?
Chainfeeds Guide: Eigen currently provides more user-friendly development infrastructure for AI agents developers, with development scenarios including AI+DeFi, AI+DAO, AI+DeSci, and AI+GAME. Source: Author: Blue Fox Notes Opinion: Blue Fox Notes: First, let's take a look at the architecture of Eigen. The core of the EigenCloud architecture is that it allows developers to execute business logic (computation in any container) off-chain, while returning the results on-chain for verification. It supports various containers, languages, and hardware, which means it gives developers greater freedom and compatibility. Its tech stack includes the restaking protocol (underlying shared security), core primitives (EigenDA for data availability service, EigenVerify for verification and dispute resolution layer, EigenCompute for computation layer, etc.), and ecosystem services (ZK, Oracle, Inference, etc.). From this architecture, EigenCloud attempts to solve some of the problems that traditional dAPPs cannot run on-chain, such as AI Agents (because it is difficult to support complex hardware and programs). We have previously mentioned the viewpoint that AI and Crypto are a perfect match because they need each other. AI has trust issues and autonomy issues; AI needs to ensure verifiable and correct operation, and needs to have its own wallet, etc. These are what Crypto can provide. Crypto lacks enough killer applications; currently, Crypto applications are mainly DeFi and stablecoins, while other applications, including games and AI agents, have not developed, but AI will reconstruct almost all applications in the future. If AI can run on Crypto, then this will be the greatest hope for Crypto after DeFi and stablecoins. The architecture of EigenCloud enables the integration of AI Agents and Crypto to be feasible. For example, EigenCloud allows AI agents to be embedded into smart contracts, becoming autonomous and verifiable entities; AI agents can run on EigenCloud, with staking security support, EigenDA data availability support, EigenVerify verification support, EigenCompute computation support, etc. The results are put on-chain, and if there are errors, challenges can be made, and the verification protocol ensures the correctness of the results. In short, the Eigen ecosystem supports verification of the entire stack (computation, data, inference, tools, etc.), and supports the operation of AI agents (model + orchestrator + memory + goals + tool calls, etc.). Source of content
Ethereum’s Rising Validator Queue and Restaking Activity Could Signal a Growing Supply Squeeze
The Ethereum validator queue has surged to a two-year peak of 860k ETH, signaling increased staking demand and a potential supply squeeze. Combined with ~36M ETH already staked and rising restaking activity, this dynamic supports structural bullish pressure on ETH over the medium term. 860k ETH queued — a two-year high Total Value Staked (TVS) near 36M ETH, down from a 36.23M peak in early August. Queue represents roughly $3.7B or ~2.9% of supply; combined locked/queued ETH could exceed 38M (32%+ of supply). Ethereum validator queue climbs to 860k ETH, tightening supply and boosting staking flows. Read analysis on ETH staking impact and next steps for investors. What is the Ethereum validator queue and why does it matter? The Ethereum validator queue is the backlog of ETH waiting to become active validators on the Beacon Chain. A large queue means substantial ETH is effectively locked from liquid markets, increasing supply pressure and potentially supporting price if demand persists. How much ETH is currently queued and staked? Validator queue data shows the entry queue spiked to 860k ETH on 2 September, roughly $3.7 billion in queued capital. Ethereum’s TVS reached a high of 36.23 million ETH in early August and sits near 36 million today after ~230k ETH unstaked in under a month. Source: Validatorqueue How do staking flows and restaking affect ETH supply? Staking removes ETH from liquid markets; restaking protocols layer additional yield on top of staked ETH. For example, EigenLayer’s TVL has reached record levels, showing capital is increasingly committed to multilevel lock-ups and yielding strategies. When restaking ramps, the effective locked supply rises beyond native staking figures. That amplifies potential supply shocks if demand holds or increases. Source: DeFiLlama When did staking flows correlate with price action? Recent data shows TVS fell ~145k ETH across two weeks while ETH’s price pulled back about 12% from the $4.9k peak. Short-term unstaking coincided with price weakness, but the larger trend of rising queued ETH suggests renewed medium-term accumulation into staking. Quick comparison: staked vs queued ETH Metric Value Percent of Supply Total Value Staked (TVS) ~36.0M ETH ~29.45% Validator Queue 860k ETH ~2.9% Potential locked (staked + queued) ~38.0M ETH ~32% Frequently Asked Questions How does the validator queue affect ETH liquidity? A large validator queue removes ETH from liquid exchanges and wallets while it waits to activate. That reduces available circulating supply and can amplify price moves if demand remains steady or rises. Can restaking increase supply pressure further? Yes. Restaking protocols allow staked ETH to be rehypothecated for additional yield, effectively increasing the amount of ETH that is functionally locked and reducing freely tradable supply. Key Takeaways Validator queue at 860k ETH: Represents meaningful queued capital (~$3.7B) that tightens effective supply. TVS near 36M ETH: Even after recent unstaking, staking remains elevated and supportive for long-term demand. Restaking adds leverage: Protocols like EigenLayer increase functional lock-up, intensifying potential supply shocks. Conclusion Ethereum’s staking dynamics — a two-year high validator queue, sustained TVS, and growing restaking activity — point to structural supply compression beneath the surface. Monitor queue trends, restaking TVL, and on-chain flows to assess whether this translates into durable price support. COINOTAG will continue tracking these metrics and publishing updates. In Case You Missed It: Ether Exchange Reserves Fall 38% Since 2022 as Spot ETFs and Corporate Treasuries Appear to Draw Supply
Institutional Adoption of Liquid Restaking: A New Paradigm in Crypto Treasury Management
The institutional crypto landscape is undergoing a seismic shift as liquid restaking protocols redefine treasury management. By combining yield optimization with network security, these innovations are attracting pension funds, asset managers, and corporate treasuries to decentralized finance (DeFi) ecosystems. This article examines how liquid restaking—particularly through Ethereum-based protocols like EigenLayer and Babylon—has emerged as a strategic tool for institutional capital, while addressing the symbiotic relationship between capital efficiency and blockchain security. Strategic Yield Optimization: Liquidity Meets Compounding Rewards Institutional investors are increasingly deploying liquid staking tokens (LSTs) to maximize returns on crypto assets. Unlike traditional staking, which locks assets for extended periods, liquid restaking protocols issue tradeable tokens (e.g., stETH, rETH) that represent staked assets. These tokens can be lent, traded, or used as collateral, enabling institutions to compound yields across multiple DeFi applications. According to a report by The Block, Ethereum’s liquid staking TVL surged to $24 billion by August 2025, driven by regulatory clarity and institutional demand. Platforms like Lido and Rocket Pool now manage $43.7 billion in assets, with staking yields averaging 3–6%. For example, BitMine Immersion , a corporate treasury participant, generated $87 million annually by staking 1.72 million ETH through liquid derivatives. This flexibility allows institutions to balance liquidity needs with yield generation, a critical advantage in volatile markets. EigenLayer’s Actively Validated Services (AVSs) further amplify this strategy. By restaking staked ETH to secure additional protocols, EigenLayer reported $7 billion in TVL by April 2025, with over 50 networks leveraging its security layer. This compounding mechanism enables institutions to diversify risk while earning layered rewards, effectively transforming staked assets into multi-utility capital. Network Security Synergies: Capital Efficiency and Decentralization Liquid restaking not only benefits institutional portfolios but also strengthens blockchain networks. Protocols like Babylon and EigenLayer are pioneering cross-chain security models, where staked assets from one chain (e.g., Ethereum or Bitcoin) are used to secure others. This “mesh security” approach reduces reliance on centralized validators and enhances the resilience of interconnected blockchains. Babylon’s Genesis chain, launched in April 2025, exemplifies this synergy. By enabling Bitcoin staking without wrapping BTC, the protocol introduced native slashing mechanisms to secure PoS chains. As of August 2025, Babylon’s TVL exceeded $2 billion, with Bitcoin staking entering the top 10 staking assets globally. This innovation unlocks Bitcoin’s $1 trillion market cap for security purposes, addressing a long-standing limitation of the asset while creating new revenue streams for holders. EigenLayer’s AVS model similarly enhances Ethereum’s security footprint. By allowing staked ETH to validate services like data availability layers or cross-chain bridges, EigenLayer’s TVL surpassed $15 billion. This expansion of security guarantees not only protects participating protocols but also increases the economic value of staked assets, creating a virtuous cycle of capital deployment and network robustness. Regulatory Clarity: A Catalyst for Institutional Adoption The U.S. Securities and Exchange Commission’s (SEC) August 2025 guidance marked a turning point for liquid restaking. By clarifying that administrative staking activities fall outside securities laws, the SEC provided a legal framework for institutions to engage with LSTs without fear of regulatory overreach. This clarity has spurred adoption among pension funds and asset managers, which now allocate $3 billion in corporate treasuries to Ethereum staking. Regulatory tailwinds are further amplified by the CLARITY and GENIUS Acts, which reclassify Ethereum as a utility token and enable SEC-compliant staking solutions. These developments align with broader macroeconomic trends, including dovish Federal Reserve policy and Ethereum’s post-Pectra upgrade gas fee reductions, making crypto treasuries increasingly attractive for yield-seeking institutions. Risks and Challenges: Liquidity and Market Stress Despite its promise, liquid restaking is not without risks. During Ethereum’s July 2025 deleveraging event, LSTs temporarily de-pegged from ETH, exposing liquidity vulnerabilities. While protocols like Lido and EigenLayer have robust mechanisms to mitigate such risks, institutions must remain vigilant about market stress scenarios. Additionally, the complexity of cross-chain restaking introduces operational risks, requiring sophisticated risk management frameworks. Conclusion: A New Era for Institutional Crypto Strategies Liquid restaking represents a paradigm shift in crypto treasury management, offering institutions a unique blend of yield optimization, liquidity, and network security. As EigenLayer, Babylon, and Ethereum-based protocols continue to innovate, the synergy between capital efficiency and blockchain security will likely drive further institutional adoption. However, success hinges on navigating regulatory landscapes and mitigating liquidity risks—a challenge that, if managed effectively, could cement liquid restaking as a cornerstone of modern institutional portfolios. **Source:[1] Ethereum Treasuries: The Institutional Shift to Yield-Optimized Digital Reserves [2] Restaking from First Principles [3] Industry leaders cheer liquid staking's SEC green light [4] Validator withdrawals fuel $30 billion migration into Ethereum liquid restaking protocols
Kite Secures $18M Series A to Power Agentic Web Infrastructure
Previously known as Zettablock, Kite introduces a novel architecture designed specifically for the agentic web, drawing on years of expertise in distributed infrastructure systems. Any PayPal or Shopify retailer may now opt in via the Kite Agent App Store and make themselves discoverable by AI shopping agents. Agent Passport, a verifiable identity with functional safeguards, and the Agent App Store, where agents may find and purchase services including APIs, data, and commerce tools, are the two main parts of Kite AIR. Today, Kite , a firm building the agentic web’s fundamental trust infrastructure, revealed that it had secured $18 million in Series A investment, increasing its total cumulative funding to $33 million. General Catalyst and PayPal Ventures led the round. Samsung Next, SBI US Gateway Fund, Vertex Ventures, Hashed, HashKey Capital, Dispersion Capital, Alumni Ventures, Avalanche Foundation, GSR Markets, LayerZero, Animoca Brands, Essence VC, Alchemy, and 8VC are among the other investors in the firm. Previously known as Zettablock, Kite introduces a novel architecture designed specifically for the agentic web, drawing on years of expertise in distributed infrastructure systems. Large-scale, real-time data infrastructures supporting decentralized networks including Chainlink, EigenLayer, Sui, and Polygon were previously built by the team. Kite is designed to cater to a new kind of user—agents—by building directly on that base. A groundbreaking technology that allows autonomous agents to authenticate, transact, and function autonomously in real-world settings, Kite Agent Identity Resolution, or “Kite AIR,” was recently introduced by the business. The system uses a blockchain designed for autonomous agents to provide programmable identification, native stablecoin payment, and policy enforcement. Agent Passport, a verifiable identity with functional safeguards, and the Agent App Store, where agents may find and purchase services including APIs, data, and commerce tools, are the two main parts of Kite AIR. Thanks to open interfaces with well-known e-commerce platforms like PayPal and Shopify, it is operational as of right now. Chi Zhang, Co-Founder and CEO of Kite stated: “From the beginning, we believed autonomous agents would be the dominant UI for the future digital economies. To function, they need structured and verifiable data, That was our first step. Next come identity, trust, and programmable payments. Today’s human-centric systems are too rigid and brittle for swarms of agents conducting micro-transactions at machine speed. Kite AIR solves that”. Any PayPal or Shopify retailer may now opt in via the Kite Agent App Store and make themselves discoverable by AI shopping agents by leveraging publicly accessible APIs. With the use of stablecoins and programmable permissions, purchases are settled on-chain with complete traceability. Additionally, Kite is continuously developing more interfaces across data, financial, and commerce platforms. Marc Bhargava, Managing Director at General Catalyst stated: “Kite is doing the foundational work we believe will define how agents operate tomorrow. They are building the rails for the machine-to-machine economy.” Alan Du, Partner at PayPal Ventures stated: “Kite is the first real infrastructure that is purpose-built for the agentic economy. Payment has proven to be a challenging technical gap. Solutions like virtual cards provide only short-term workarounds. Latency, fees, and chargebacks further complicate things. Kite bridges this critical gap by providing stablecoin-based, millisecond-level settlement with low transaction fees and no chargeback fraud risks. This enables new economic models such as agent-to-agent metered billing, micro-subscription, and high frequency trading.” Leaders in the field who are developing the future of agentic commerce and programmable payments share that vision. Steve Everett, Head of Global Market Development, PayPal Crypto and Digital Assets stated: “Kite’s foundational trust infrastructure together with the benefits of a well-regulated stablecoin for agentic payments will create unprecedented opportunities. Enabling simultaneous, atomic settlement, governed by smart contracts that allow for real-time tracking and auditing across highly performant blockchain protocols will be the killer combination that delivers the promises of programmable payments in the exciting frontier of agentic commerce. This opens the door for a truly global, automated economy where people, enterprise and machine can interact with ease and trust.” The founding team of Kite has unparalleled experience in applied AI, large-scale data infrastructure, and blockchain protocol engineering—the three pillars needed to drive the agent economy. Chi Zhang, the CEO, managed Databricks’ key data products and has a PhD in AI from UC Berkeley. CTO Scott Shi was a founding developer on Salesforce Einstein AI and developed real-time AI infrastructure at Uber. Over 30 patents and publications at prestigious conferences like ICML and NeurIPS are held by Kite’s team. Engineers and researchers from Uber, Databricks, Salesforce, and NEAR are part of the larger team; they have academic backgrounds from MIT, Harvard, Oxford, UC Berkeley, and the University of Tokyo. Kite is building the agentic internet’s core infrastructure. Its technology gives native access to stablecoin payments, customizable permissions, and cryptographic identity to autonomous agents. Kite is building the trust transaction layer for the agentic economy by allowing agents to behave autonomously, coordinate, and transact. Global investment and transformation firm General Catalyst collaborates with the most driven businesspeople worldwide to promote applied AI and resilience. From seed to growth stage and beyond, we work with long-term-minded innovators who disrupt the established quo. We have helped 800+ startups expand, including Airbnb, Anduril, Applied Intuition, Commure, Glean, Guild, Gusto, Helsing, Hubspot, Kayak, Livongo, Mistral, Ramp, Samsara, Snap, Stripe, Sword, and Zepto. We have offices in San Francisco, New York City, Boston, Berlin, Bangalore, and London.
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