CoinPhoton

A Bitcoin wallet referenced in ransom notes tied to the disappearance of Nancy Guthrie has recorded new on-chain activity, adding another twist to the high-profile case. According to TMZ, a small transaction worth less than a few hundred dollars was sent this week to the address mentioned in earlier extortion letters.
Guthrie, 84, is the mother of NBC “Today” co-host Savannah Guthrie and has been missing from her Tucson, Arizona home since January 31. Since her disappearance, multiple ransom notes have been sent to media outlets demanding payment in Bitcoin in exchange for information about her whereabouts.
On Wednesday, a third letter reportedly surfaced, escalating the demand to 1 BTC—currently valued at around $67,500—promising to reveal the identities of those responsible. Authorities have not confirmed who initiated the recent wallet transaction or whether it is directly connected to the alleged kidnappers. It remains unclear if the transfer was a test payment or unrelated activity.
Meanwhile, law enforcement released surveillance footage showing a masked individual tampering with a Google Nest camera at Guthrie’s front door on the morning she vanished. FBI Director Kash Patel said newly recovered images show an armed person appearing to interfere with the device.
Investigators say the Bitcoin address could provide a valuable lead, as blockchain transactions can be traced in real time. However, experts caution that crypto tracing alone is not enough and must be combined with traditional investigative methods, particularly if the suspect attempts to cash out funds through a regulated exchange.
While no arrests have been directly tied to Guthrie’s disappearance, one man was briefly detained and released for questioning, and another individual has been charged separately for sending Bitcoin extortion texts to the family. The investigation remains ongoing, and Savannah Guthrie has publicly stated that she and her siblings are willing to pay a ransom for their mother’s safe return.

Bank of America expects the Bank of Japan to raise its policy rate from 0.75% to 1.0% at the April 27–28 meeting, with markets already pricing in roughly 80% odds. While a 25-basis-point hike seems modest, investors are focused on whether it could trigger a global yen carry trade unwind and forced deleveraging across risk assets, including Bitcoin.
History shows this risk is real. In August 2024, a sharp yen rally tied to carry trade unwinding sent Bitcoin and Ethereum down as much as 20% within hours, as margin calls and volatility-driven selling cascaded across markets. The BIS later described the episode as a case of forced deleveraging amplified by leverage in crypto derivatives.
However, today’s backdrop differs from 1995. The Federal Reserve still maintains rates far above Japan’s, preserving the structural appeal of borrowing yen to invest in higher-yielding assets. A move to 1% would not eliminate that gap, but it could shift expectations about the future rate path — and expectations drive currency volatility.
The key risk is not the hike itself, but a hawkish surprise combined with crowded positioning and thin liquidity. A sharp yen rally could trigger volatility-control selling, widen cross-currency basis spreads, and pressure leveraged positions, with Bitcoin likely behaving as a high-beta risk asset.
Another channel to watch is Japanese repatriation of U.S. Treasuries. As yield differentials narrow, Japanese institutions may gradually shift funds back home, potentially pushing U.S. yields higher and tightening global financial conditions — indirectly weighing on Bitcoin.
Three scenarios stand out:
A well-telegraphed, gradual hike: limited market impact, muted Bitcoin reaction.
A hawkish surprise: sharp yen rally, deleveraging, and a possible 10–20% Bitcoin drop.
No hike: weaker yen, carry trades rebuild, and Bitcoin benefits alongside other risk assets.

Ripple CEO Brad Garlinghouse says he is confident that a crypto company will eventually reach a $1 trillion valuation—and believes Ripple has a real opportunity to become that company. Speaking during XRP Community Day on X, he argued that while only a small group of global giants like Apple, Nvidia, and Alphabet have crossed the trillion-dollar threshold, the scale of the crypto market makes such a milestone inevitable.
Ripple is currently valued at around $40 billion following a $500 million fundraising round backed by major financial institutions. To reach $1 trillion, the company would need to grow roughly 25 times from its current valuation. Garlinghouse acknowledged that the road ahead is long, especially amid recent market volatility that has seen XRP and Bitcoin post sharp monthly declines, but he urged the community to focus on long-term structural growth rather than short-term price swings.
Over the past year, Ripple expanded aggressively through major acquisitions, including $1.25 billion for prime brokerage Hidden Road and $1 billion for treasury management firm GTreasury, alongside additional investments in stablecoin and wallet infrastructure firms. However, Garlinghouse said the company’s priority this year is integration rather than pursuing more large-scale deals, with potential renewed acquisition interest later on.
Central to Ripple’s long-term strategy is XRP, which Garlinghouse described as the company’s “north star.” He emphasized that Ripple’s core mission is to drive adoption and success across the XRP ecosystem, building products and services that generate revenue while strengthening the broader network.

Barry Silbert, CEO of Digital Currency Group, said financial privacy is becoming his firm’s next major asymmetric bet in crypto. While he remains strongly bullish on Bitcoin as a core portfolio asset, he argued that Bitcoin is unlikely to deliver 500x returns unless the U.S. dollar collapses.
Instead, Silbert sees significantly higher upside potential in privacy-focused and emerging networks such as Zcash (ZEC) and Bittensor (TAO), which he believes could achieve 500x growth. He suggested that 5%–10% of Bitcoin’s capital could rotate into privacy-centric cryptocurrencies over the next few years.
Silbert acknowledged that Bitcoin’s early narrative as “anonymous cash” no longer holds in the era of blockchain analytics firms. He is skeptical Bitcoin will meaningfully improve its privacy features, despite clear demand for private digital money.
Grayscale, DCG’s subsidiary, already offers a Zcash investment trust and is seeking to convert it into an ETF. Silbert also described Zcash as a potential hedge against long-term risks such as quantum computing.
“Privacy is my jam right now,” he said, signaling a strategic shift toward financial privacy as a major investment theme.

House Democrats accuse SEC Chair Paul Atkins of undermining trust in crypto oversight
House Democrats sharply criticized SEC Chair Paul Atkins during a Wednesday hearing, accusing him of ignoring crypto misconduct tied to President Donald Trump and damaging confidence in both the regulator and the digital asset industry.
Speaking before the House Financial Services Committee, Rep. Stephen Lynch (D-MA) said the SEC’s recent actions have eroded public trust. He pointed to the agency’s dismissal of several high-profile crypto lawsuits, including its case against Binance, which has reportedly played a key role in supporting the growth of the Trump family’s crypto venture, World Liberty Financial.
The SEC previously dropped its lawsuit against Binance, and President Donald Trump pardoned Binance founder Changpeng Zhao in October. Zhao had pleaded guilty to violating U.S. anti-money laundering laws and served four months in prison.
Rep. Maxine Waters (D-CA) also criticized the SEC’s decision to indefinitely pause its lawsuit against Tron founder Justin Sun. The case had accused Sun of offering unregistered securities and manipulating the price of TRX through extensive wash trading. The pause came months after Sun purchased $75 million worth of the Trump family’s WLFI token.
Sun was also among the largest holders of Trump’s meme coin, which granted him access to a private dinner with the president last spring. More recently, a woman identifying herself as Sun’s former girlfriend claimed she possesses evidence of insider trading and market manipulation involving Sun, allegations she said were reported to the SEC. Sun has denied the claims.
When pressed during the hearing on whether the SEC would reopen the case or investigate the new allegations, Atkins declined to comment on specific enforcement matters.

Susquehanna-backed BlockFills suspends withdrawals amid crypto sell-off
Crypto trading and lending firm BlockFills has temporarily halted client deposits and withdrawals as market volatility intensifies.
A company spokesperson confirmed the suspension took place last week, describing the move as a precautionary step taken “in light of recent market and financial conditions” to protect both clients and the firm. Management is working with investors and customers to restore liquidity to the platform, and has held information sessions to address client questions.
Despite the freeze on deposits and withdrawals, users are still able to open and close spot and derivatives positions. The firm said it continues to accommodate certain special circumstances while it works toward a resolution.
Withdrawal suspensions have historically raised alarm in the crypto industry. Following the collapse of FTX in 2022, lenders such as Genesis and BlockFi paused withdrawals amid severe liquidity crunches.
BlockFills’ move comes during a sharp market downturn. Bitcoin has fallen nearly 28% over the past 30 days to $66,288—down more than 47% from its October all-time high of $126,080. Ethereum and XRP have dropped roughly 39% and 35%, respectively, over the same period.
BlockFills says it serves more than 2,000 institutional clients worldwide and facilitated over $61 billion in trading volume in 2025. The firm raised a multi-million dollar equity round in 2022 backed by Susquehanna Private Equity Investments and other investors.

Paxful sentenced to $4 million over money laundering and sex trafficking-linked transactions
Peer-to-peer Bitcoin exchange Paxful has been ordered by a U.S. federal court to pay $4 million in criminal fines after pleading guilty to multiple charges, including facilitating money laundering, fraud, prostitution, and sex trafficking-related transactions.
In a plea agreement reached in December with the Department of Justice (DOJ) and the U.S. Treasury Department, Paxful admitted it knowingly transferred funds tied to money laundering schemes, fraud, prostitution, and commercial sex trafficking.
According to the DOJ, Paxful facilitated approximately $3 billion in trades between 2017 and 2019, generating nearly $30 million in revenue during that period.
Authorities said Paxful processed Bitcoin transactions on behalf of clients including Backpage, a website known for prostitution advertisements that profited from illegal sex work involving minors. The DOJ stated that Paxful’s founders at one point touted the “Backpage Effect” and its positive impact on the company’s business.
“By putting profit over compliance, the company enabled money laundering and other crimes,” said U.S. Attorney Eric Grant. “This sentence sends a clear message: Companies that turn a blind eye to criminal activity on their platforms will face serious consequences under U.S. law.”
As part of the plea deal, Paxful acknowledged that an appropriate criminal penalty would exceed $112 million. However, the DOJ determined the company was unable to pay more than $4 million, and a federal judge approved the reduced fine during Tuesday’s sentencing hearing.
In addition to the criminal penalty, Paxful agreed to pay a $3.5 million civil fine to the Treasury’s Financial Crimes Enforcement Network (FinCEN).
Paxful shut down operations in 2023. In 2024, its co-founder Artur Schaback of Estonia pleaded guilty to violating U.S. anti-money laundering laws.

FCA launches legal action against HTX over illegal crypto promotions in the UK
The UK’s Financial Conduct Authority (FCA) has begun legal proceedings against HTX, accusing the exchange of illegally promoting crypto asset services to UK consumers in breach of marketing rules introduced in October 2023.
The regulator said it had previously warned HTX about its advertising practices. While the exchange has blocked new UK users from registering, existing customers can still access content deemed unlawful, raising concerns about ongoing violations.
HTX’s Facebook, Instagram, and TikTok accounts are now inaccessible in the UK, though its X and YouTube channels remain available. The company has not commented.
The move comes as the FCA ramps up crypto oversight, with a full regulatory regime expected in 2027 as the UK seeks to align crypto rules more closely with traditional finance.

Bitcoin’s drop toward $60,000 last week may have marked a local bottom, according to research firm K33, which says “capitulation-like conditions” appeared across spot, ETF, and derivatives markets.
K33 highlighted extreme signals during the sell-off, including 95th percentile trading volumes, funding rates plunging to their lowest levels since the March 2023 U.S. banking crisis, and options skews reaching levels last seen during the most intense stress of the 2022 bear market. Bitcoin’s daily RSI fell to 15.9 — one of the most oversold readings since 2015 — a level previously associated with major cycle lows.
Sentiment also collapsed, with the Crypto Fear & Greed Index dropping to 6, its second-lowest reading ever. Meanwhile, U.S. spot Bitcoin ETFs saw record trading activity and significant outflows, even as volumes surged.
Taken together, K33 argues that the breadth of extreme readings supports $60,000 as a high-probability local bottom. The firm expects Bitcoin to enter a consolidation phase between $60,000 and $75,000 in the coming weeks or months, with no expectation of a significant breakdown below the recent low.

Zerohash adds Monad and USDC support to expand stablecoin payments
Zerohash has added support for the Monad blockchain and USDC on Monad to its crypto infrastructure platform, aiming to broaden stablecoin payment capabilities on the Layer 1 network.
In a statement released Wednesday, the company said the integration enables its clients — including prediction markets platform Kalshi, HR management platform Gusto, and trading app Public — to build and launch stablecoin-based payment flows without operating blockchain infrastructure or obtaining their own regulatory licenses. The setup is designed to power use cases such as real-time account funding, cross-border payments, B2B settlement, and onchain commerce.
Monad joins a growing list of blockchains supported by Zerohash, while USDC on Monad expands the range of stablecoins available on the platform. Raj Parekh, head of stablecoins and payments at the Monad Foundation, described Monad as fast and reliable, with near-instant finality that could help scale stablecoin payments and drive everyday usage.
According to Mark Daly, chief business officer at Zerohash, Ethereum and its broader ecosystem still account for the largest share of stablecoin activity on the platform. However, he noted increasing activity across other Layer 1 and Layer 2 networks as stablecoins expand further into payment and settlement use cases. Daly added that performance, liquidity, cost, and ecosystem growth typically shape user adoption, and said Monad’s technical profile could enable faster and more cost-efficient stablecoin transactions at scale. Zerohash also plans to support additional stablecoins on Monad as they become available.

Uniswap’s governance token rallied sharply after BlackRock announced that its $2.1 billion tokenized money market fund, BUIDL, will be integrated with UniswapX. The move enables BUIDL to trade on-chain through Uniswap’s RFQ-based system, where professional market makers compete to offer users the best available price. Following the announcement, UNI jumped more than 13% in 24 hours, although it remains down significantly over the past month amid broader crypto market weakness.
In addition to the integration, BlackRock disclosed that it has made a strategic investment within the Uniswap ecosystem and plans to purchase UNI tokens—its first direct exposure to a DeFi governance asset. However, filings note that any such investment could be discontinued at any time.
BUIDL, issued and managed with tokenization specialist Securitize, is backed by cash and U.S. Treasuries and is pegged to the U.S. dollar. Unlike most stablecoins, it offers yield to holders, making it one of the largest and most prominent tokenized real-world assets (RWAs) in the market today. Through the UniswapX integration, BUIDL will trade similarly to other on-chain tokens, while still operating within a permissioned framework supported by regulated participants.
The partnership is positioned as a step toward bridging traditional finance and DeFi—combining institutional-grade compliance and trust standards with the speed, transparency, and self-custody features of blockchain infrastructure. BlackRock has repeatedly highlighted tokenization as the next major evolution in financial market infrastructure, with Ethereum—where Uniswap originated and where most tokenized assets are issued—emerging as a central platform in that transformation.

Sonic, formerly Fantom, is shifting its strategy to boost demand for its native S token by vertically integrating core applications and economic infrastructure. Instead of relying primarily on gas fees for value accrual, Sonic plans to build or acquire key products across trading, credit, payments, settlement, and risk markets to capture more value within its ecosystem.
The team argues that blockspace is no longer scarce due to scaling advances, leading to fee compression and reduced effectiveness of the “gas fee only” model. By owning and internalizing critical economic activities, Sonic aims to prevent value leakage to external apps and create sustainable revenue streams.
These revenues could support token buybacks, reinforcing the value of S. The approach is similar to models like Hyperliquid, where the application and blockchain infrastructure are tightly integrated. Meanwhile, Andre Cronje, a key contributor to Sonic, recently raised $25.5 million for his new onchain exchange, Flying Tulip, now valued at $1 billion.

Democrats question SEC Chair over Sun and Binance cases
Democratic lawmakers pressed SEC Chair Paul Atkins over the agency’s decision to pause its case against Tron founder Justin Sun and drop its lawsuit against Binance, raising concerns about potential ties to President Donald Trump.
At a House Financial Services Committee hearing, Rep. Stephen Lynch asked Atkins to explain how the cases were halted without enforcement action, warning that the SEC’s reputation was being damaged.
The SEC charged Justin Sun in 2023 with unregistered securities sales and market manipulation. In February 2025, the agency moved to pause the case to explore a potential settlement. The SEC later dropped its lawsuit against Binance in May 2025, despite the exchange and former CEO Changpeng Zhao previously pleading guilty to Bank Secrecy Act violations and agreeing to pay over $4 billion to resolve a Justice Department probe.
Data from Cornerstone Research shows overall SEC enforcement actions fell 30% in 2025 compared to the prior year, while crypto-related cases declined 60%, signaling a shift in enforcement priorities.
Atkins denied that Trump, his family, or the White House influenced any enforcement decisions, maintaining that the SEC continues to pursue a robust enforcement agenda.
As Congress works on digital asset legislation, Atkins said the SEC is coordinating with the CFTC to modernize crypto regulations and plans to introduce a time-limited “innovation exemption” framework designed to support product development while maintaining investor protections.

Tether could become a top 10 U.S. Treasury bill buyer this year
Bo Hines, former White House crypto advisor and now CEO of Tether USA₮, said the company expects to significantly ramp up its purchases of U.S. Treasury bills this year, driven by rising demand for USDT and its newly launched USAT stablecoin.
Speaking at the Bitcoin Investor Week conference in New York, Hines said, “This year, I think we’ll end up being a top 10 purchaser of T-bills.”
USDT remains the largest stablecoin by market capitalization, with roughly $185 billion in circulation. According to Tether’s latest attestation, 83.11% of its reserves are allocated to U.S. Treasury bills, totaling more than $122 billion in short-term government debt securities widely considered risk-free.
That scale places Tether among the top 20 holders of U.S. Treasury bills globally, including sovereign nations. Hines noted that, if ranked alongside countries, Tether would sit between Germany and Saudi Arabia on the U.S. Treasury’s list of foreign holders.
Launched in 2014, USDT now serves approximately 530 million users and is growing by about 30 million new users per quarter, Hines said.
Tether’s demand for T-bills could accelerate further with the rollout of USAT, officially launched late last month. Issued by Anchorage Bank, USAT is designed to comply with the U.S. federal stablecoin framework under the GENIUS Act, which requires regulated stablecoins to maintain 1:1 backing with high-quality liquid assets such as short-term U.S. Treasury bills.
Hines, who previously served as Executive Director of the White House Crypto Council under President Donald Trump, is widely credited with helping advance the GENIUS Act before stepping down in August shortly after the legislation was signed into law.
He said Tether is increasing its T-bill reserves as it moves toward full GENIUS compliance, adding that there will be “reciprocity” between the interoperable USDT and USAT stablecoins. “It’s just Tether at the end of the day,” Hines said.

Upexi posts $179 million net loss as Solana decline weighs on treasury
Nasdaq-listed Upexi (UPXI) reported sharply higher revenue in its fiscal second quarter ended Dec. 31, but recorded a steep net loss as falling Solana prices pressured the value of its SOL treasury holdings.
Total revenue reached $8.1 million, nearly doubling from $4 million a year earlier. Digital asset operations contributed $5.1 million — primarily from staking income — surpassing the $2.9 million generated by the company’s consumer brands segment. Gross profit rose 126% year over year to $6.7 million, largely driven by the addition of its digital asset treasury business last year.
Despite the revenue growth, Upexi reported a net loss of nearly $179 million, compared with a $1.3 million loss in the same quarter a year ago. The decline was mainly attributed to $164.5 million in unrealized losses from fair value adjustments on its crypto holdings at quarter end, along with $8.3 million in stock-based compensation expenses. Executives noted that most of the losses were non-cash accounting adjustments, while underlying treasury operations continued to generate income through SOL staking rewards and token accumulation.
At quarter end, Upexi held more than 2.17 million SOL, with approximately 95% staked. During the earnings call, management said holdings have since increased to nearly 2.4 million SOL, although updated SEC filings have yet to reflect the revised figure.
The company also bolstered liquidity through several capital raises, including a $36 million convertible note backed by locked SOL and a $7.4 million registered direct offering, bringing cash on hand to roughly $9.7 million. A previously announced $50 million share repurchase program remains in effect.
Solana is currently trading below $80, near its lowest level in over two years. Meanwhile, Upexi shares recently fell to an all-time low around $0.90, down sharply from highs above $22 reached after the company pivoted to a crypto treasury strategy last year.

Nasdaq-listed Hyperliquid Strategies Inc. (ticker: PURR) reported a net loss of $317.9 million for the six months ended Dec. 31, 2025, largely driven by unrealized losses on its HYPE token holdings, deferred tax expenses, and a merger-related write-off.
The company recorded total assets of $616.7 million and stockholders’ equity of $589.8 million, with no outstanding debt. As of Dec. 31, it held approximately 12.86 million HYPE tokens at a price of $25.48.
According to the firm, the net loss primarily stemmed from $262.4 million in unrealized HYPE losses, a $35.6 million in-process research and development (IPR&D) write-off tied to its merger with Sonnet BioTherapeutics Holdings, and a $17.8 million increase in deferred tax expense.
Hyperliquid Strategies operates as a digital asset treasury company focused on the Hyperliquid ecosystem. It went public in December 2025 through a merger with Sonnet, following an October S-1 filing with the U.S. Securities and Exchange Commission seeking to raise $1 billion to expand its HYPE treasury.
Revenue during the period was limited, consisting of $0.9 million in interest income and $0.5 million in staking revenue from HYPE holdings, generated after the transaction closed on Dec. 2.
CEO David Schamis said that while mark-to-market losses reflect broader digital asset volatility, the company maintains a strong balance sheet, emerging staking yields, and disciplined capital deployment aimed at delivering long-term shareholder value.
As of Feb. 3, Hyperliquid Strategies deployed $129.5 million to acquire an additional 5 million HYPE tokens, bringing total holdings to 17.6 million HYPE — approximately 1.83% of the 962.3 million token supply. The firm also spent $10.5 million to repurchase 3 million PURR shares, reducing its fully diluted share count to 150.6 million.
The company said it retains $125 million in deployable capital, excluding working capital reserves, and has access to a $1 billion Equity Line of Credit facility.
$HYPE

Google’s Mandiant security team has warned that North Korean hackers are using AI-generated deepfake videos in fake Zoom meetings to target crypto companies. In a recent case attributed to the group UNC1069 (CryptoCore), attackers used a compromised Telegram account, a spoofed meeting link, and a “ClickFix” technique to trick a victim into running malicious commands.
The attack deployed multiple malware strains to steal credentials, browser data, and session tokens for financial theft and future impersonation. According to Chainalysis, North Korean hackers stole $2.02 billion in crypto in 2025, bringing their total haul to about $6.75 billion.
Experts say these attacks are highly tailored, exploiting trust in routine digital interactions. Deepfake videos and AI-written messages make impersonation more convincing, and the risk is expected to grow as AI tools become more integrated into everyday communication.

Polymarket traders are assigning low odds to China legalizing onshore Bitcoin purchases by the end of 2026, but Beijing’s regulatory trajectory points firmly in the opposite direction.
In February 2026, Chinese regulators formalized a strengthened “Ban 2.0” framework, explicitly classifying virtual-currency business activities as illegal financial activity and expanding enforcement to cover marketing, payment clearing, traffic facilitation, and stablecoins. The new rules also introduce civil penalties that render crypto-related transactions legally invalid, reinforcing deterrence at both the institutional and individual levels.
While Hong Kong continues to function as a controlled testing ground—hosting spot crypto ETFs, developing a stablecoin licensing regime, and piloting tokenization initiatives—these offshore experiments do not signal liberalization in mainland China. Instead, they act as a regulatory pressure valve, allowing tightly supervised innovation without permitting renminbi-to-Bitcoin conversions within the mainland.
At the same time, Beijing is actively supporting tokenization of real-world assets under strict oversight, highlighting a clear distinction: state-supervised digital finance is acceptable; decentralized crypto trading is not.
Although Bitcoin mining activity in China has partially rebounded despite the ban, this reflects enforcement gaps rather than a policy shift. The overall direction since late 2025 has been toward tighter controls, clearer prohibitions, and stronger legal codification.
In essence, the real question is not whether China will become “crypto-friendly,” but whether it will reverse a newly reinforced legal framework and allow citizens to convert renminbi into Bitcoin domestically. Given current signals, such a reversal appears highly unlikely without a major political or economic catalyst.

Ethereum is prototyping a major architectural shift from re-executing every transaction to verifying zero-knowledge execution proofs.
Through EIP-8025 (“Optional Execution Proofs”), validators would be able to attest to blocks by verifying compact zk-proofs instead of running the full execution layer. This enables stateless validation, where nodes no longer need to store large state data. The system relies on ExecutionWitness packages, standardized guest programs, zkVM execution, and prover-generated proofs that are verified by the consensus layer.
A key dependency is ePBS (Enshrined Proposer-Builder Separation), expected in the Glamsterdam hardfork, which would extend the proving window from 1–2 seconds to 6–9 seconds — making real-time proof generation feasible. However, generating proofs currently requires around 12 GPUs and takes about 7 seconds per block, raising concerns about prover centralization.
If successful, this shift would decouple execution complexity from validation cost, making higher gas limits and greater layer-1 throughput possible without pricing out home validators. But it also moves the decentralization challenge from “who can run a node” to “who can afford to generate proofs.”
For layer-2 networks, the implications are significant. If Ethereum layer-1 can scale while keeping verification cheap, rollups will need to differentiate beyond simple scaling — focusing instead on specialized virtual machines, ultra-low latency, preconfirmations, and new composability models.
The transition is still experimental and not ready for activation, but with a 2026 roadmap and active development underway, Ethereum has moved from research theory to implementation planning.

Ripple has added Ethereum and Solana staking to its institutional custody platform through a partnership with Figment, allowing clients to earn staking rewards without running their own validator infrastructure. The move expands Ripple’s custody services beyond asset safekeeping into yield-generating features that institutional investors increasingly expect.
Figment was selected for its institutional-grade infrastructure, non-custodial architecture, and compliance-focused standards, helping ensure staking operations meet governance, audit, and risk management requirements.
The development also highlights a key difference: Ethereum and Solana offer native staking rewards, while XRP does not. Although staking on the XRP Ledger has been discussed, it would require structural economic changes and is not currently in development.
Despite lacking native staking, XRP-linked investment products recently attracted stronger inflows than Ethereum and Solana products. Ripple positions XRP as core infrastructure within its institutional DeFi roadmap, while enabling yield generation on other proof-of-stake assets inside its custody ecosystem.