Once a $2.3 Billion Network, Ethereum Layer-2 Blast Is Shutting Down
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Blast to wind down Ethereum L2 after costs outpace revenue
Once among Ethereum’s largest layer-2 networks by total value locked, Blast is urging users to move their assets to mainnet ahead of the shutdown.
What Is Robinhood Chain? The Ethereum Layer-2 Network for Tokenized Stocks and Meme Coins
Robinhood Chain is an Ethereum layer-2 network built with Arbitrum technology for tokenized assets, crypto apps, and on-chain financial products.
Harmony proposes shutting down layer 1, migrating ONE to Ethereum
Harmony proposed sunsetting its layer-1 blockchain and migrating ONE to Ethereum, weeks after an exploit led to plans to discard 109,000 transactions.
Tether burned 2.5 billion USDT on Ethereum in a single day, the largest single-day destruction since February.
According to Mars Finance, on July 8th, CryptoQuant, citing on-chain data analysis, reported that on July 7th, the Tether Treasury burned $2.5 billion worth of USDT on the Ethereum network, the largest single burn on the network since February this year. This surpasses the $2 billion burn on May 8th and is second only to the historical high of $3.5 billion on February 10th. Simultaneously, the USDT balance flowing in and out of Binance via the Tron network fell to approximately $806 million, the lowest level since December 29th, 2025 ($391 million), falling below the $1 billion mark, indicating a significant contraction in USDT liquidity through the Binance Tron channel. While the large-scale burn by the Tether Treasury primarily reflects redemptions, fund management, or cross-chain rebalancing operations, it is not a direct market signal. However, the simultaneous contraction in Ethereum supply and Binance Tron liquidity warrants continued monitoring to see if the trend of synchronized tightening of liquidity in both stablecoin chains continues.
Figure released its Q2 operating data: transaction volume reached $4.26 billion, a year-over-year increase of 132%.
According to Mars Finance, Figure released preliminary operating data for June and the second quarter, both exceeding the upper limit of its previous guidance. The data shows that Figure's market transaction volume in the second quarter was $4.26 billion, a year-on-year increase of 132%; of which, the transaction volume in June alone was $1.52 billion, a month-on-month increase of 8% and a year-on-year increase of 155%. Figure also announced that it will transform to adopt a near-real-time operational transparency reporting model and launch a weekly updated dashboard to provide more direct visibility into market size.
Russia's Sberbank Sees $46 Billion in Crypto Trading, Plans Ethereum and USDT-Backed Loans
Deputy Chairman Anatoly Popov told state media that trading could hit 4 trillion rubles in its first year, as the bank prepares to broaden crypto-backed lending once regulators sign off.