
Buterin Argues for an Extremely Lean Ethereum Base Layer
Vitalik Buterin's July 6 post would cut on-chain validator state to about 6 bytes using daily ZK-STARK proofs. Researchers back it, but call 3-4 years slow.
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Vitalik Buterin's July 6 post would cut on-chain validator state to about 6 bytes using daily ZK-STARK proofs. Researchers back it, but call 3-4 years slow.

A new nonprofit backed by BitMine, SharpLink Gaming and Joseph Lubin takes on institutional outreach for Ethereum, days after the Foundation cut that work back.

BitMine added 27,084 ETH to reach 5.7 million, about 4.7% of supply, and SharpLink bought 39,196, while FG Nexus sold again with realised losses above $86.8 million. Ether was near $1,550.

Base stopped producing blocks for 116 minutes on 25 June and again for 20 minutes on 26 June, after stale state from a failed transaction produced a block validators rejected. No funds were at risk, but the Beryl hardfork was postponed.

The Ethereum Foundation confirmed its largest-ever restructuring: 54 roles gone, about 20% of staff, and a 2026 budget cut of roughly 40%. Co-Executive Director Hsiao-Wei Wang resigned, and Privacy and Scaling Explorations is being wound down.

Taiko stopped block production and froze its bridge on June 22 after forged withdrawal proofs drained about $1.7 million, traced to a leaked SGX signing key.

A deprecated Aztec 2.0 escape-hatch verifier lost about $2.2 million this week, days after the retired Aztec Connect rollup lost $2.19 million. Both contracts have been outside Aztec Labs' control since 2024.

Starknet put STRK20 live on mainnet on 9 June, a privacy standard covering arbitrary ERC-20 tokens. Private transfers are validated by zero-knowledge proofs, with encrypted notes stored in contract storage and a stated cost of roughly 4 STRK each.

Ether traded about 70% below its August 2025 record of $4,953.73 on Monday, roughly 20 points worse than bitcoin, as more than $1 billion of positions were liquidated.

The latest report on BitMine Ethereum accumulation highlights a significant strategic divergence: despite recording a $3.8B loss, the company doubled down on ETH staking positions.

Despite the broader market correction, major funds are actively increasing their positions in Ethereum and Solana -- a sign that institutional conviction in Layer-1s remains intact heading into Q2.

Executive summary: Bitcoin surged 7.5% overnight, hitting a local high above 72,700. Ethereum and Solana followed with double-digit moves. Here's the breakdown of what happened and why.