• Bitmine buys $500m worth of ETH.

• Over 29% of the ETH supply is staked.

• Aave reaches $50 billion in deposits.

• Roman Storm begins trial in SDNY.

Bitmine Immersion Technologies Inc. has become the latest Bitcoin mining firm to build an Ethereum treasury, following its recent purchase of 163,142 ETH, currently valued at around $500 million. Traded on the NYSE under the ticker BMNR, Bitmine is led by institutional investor Thomas Lee, who is leading the company’s ETH strategy. Bitmine now ranks fourth among strategic ETH holders. Meanwhile, SharpLink Gaming (NASDAQ: SBET) added another 16,374 ETH over the weekend, boosting its total holdings to 216,000 ETH. Amid a surge in buying activity from Bitcoin mining companies, ETH is up 18.7% in the past week and is now trading above $3,000.

More than 29% of the total ETH supply is now staked on the Beacon Chain. According to data from hildobby’s Ethereum staking dashboard, around 35.9 million ETH is staked across approximately 1.1 million validators. Currently, the staking entry queue holds 400,861 ETH, resulting in an estimated wait time of about a week. Staking ETH helps secure the Ethereum network by creating an economic guarantee for validators to propose, verify, and attest to valid blocks. Lido Finance remains the largest staking provider, holding about 25% of all staked ETH, although its share has declined from 31.9% in 2023.

Aave, the largest DeFi lending protocol, achieved $50 billion in combined TVL across its deployments on 11 networks and 13 markets. Initially known as ETHLend, Aave was first deployed to Ethereum on January 8, 2020. The protocol reached its first $1 billion in TVL just a few months later, kicking off DeFi Summer. Beyond enabling global open access to lending markets, Aave ensures that everyone, regardless of the size of their holdings, receives equal lending rates. Aave is working toward Aave V4, expected to go live later this year.  Aave V4 is a Cross-Chain Liquidity Layer (CCLL) that aims to unify liquidity across chains, improving capital efficiency.

Roman Storm, a developer who helped write open-source code for Tornado Cash, started trial today in the Southern District of New York (SDNY). According to DL News, Storm’s legal team sought to prevent prosecutors from presenting images and messages obtained through subpoenas sent to Apple, X, and Dragonfly. Storm was indicted on August 23, 2023, on charges of money laundering, violating sanctions laws, and operating an unlicensed money-transmitting business in relation to Tornado Cash. The Department of Justice has pursued the case despite recent court rulings overturning sanctions on Tornado Cash smart contracts and the removal of the contract addresses from OFAC’s SDN list. The trial’s outcome will set a significant precedent for open-source developers worldwide. Supporters can contribute to Storm’s legal defense through freeromanstorm.com or on Giveth.

• BTCS holds 29,122 ETH

• Cathie Wood says EF is making the right moves

• Headliner EIP rank builder

• ZK Brief Edition 51

• Ethereum Tour is live

• Crypto Week begins

• Arbitrum hosts Open House

• Clanker goes live on Arbitrum

• OG UNI airdrop is still active

• Summer League Base rewards

Disclaimer: Content is for informational purposes only, not endorsement or investment advice. The accuracy of information is not guaranteed.