Answer Box: The Ethereum Foundation has completed a multi-month restructuring, cutting 54 employees (about 20% of its workforce) and reorganizing into five business segments: protocol, access, user, community, and institutional layers. Separately, Iranian military sources say the Strait of Hormuz will now allow only a limited number of ships to pass each day, with daily adjustments. The broader crypto market saw a downturn, with WLD falling 14.26% while DYDX and G led gainers at +13.4% and +13.32% respectively.
Market Overview: Crypto Slump and Standout Performers
Major cryptocurrencies traded lower over the past 24 hours. Among the top 10 centralized exchange (CEX) tokens by volume, Bitcoin (BTC) slipped 2.3%, Ethereum (ETH) dropped 3.77%, Solana (SOL) fell 3.25%, XRP declined 1.91%, and BNB lost 2.25%. The biggest loser was WLD, plunging 14.26%, while ZEC shed 6.56% and DOGE fell 3.54%. On the upside, DYDX surged 13.4%, G gained 13.32%, and DEGEN rose 8.25%, according to OKX data. On the equity side, INFQ led with an 18.63% increase, followed by MSTZ at 15.68% and ZSL at 13.45%.
Ethereum Foundation Restructures, Cuts 54 Jobs
After a months-long review, the Ethereum Foundation has restructured into five core business segments: protocol layer, access layer, user layer, community layer, and institutional layer, with additional operations and management support teams. As a result of the structural, activity, and spending adjustments, the foundation laid off 54 employees, roughly 20% of its total workforce. Departing staff will receive severance pay equivalent to one month's salary per year of service (or the local statutory minimum, whichever is higher) along with transition support.
Strait of Hormuz Restrictions and Geopolitical Tensions
Iranian military sources told Fars News that the Strait of Hormuz will now permit only a limited number of vessels to transit daily, with the exact quota adjusted based on real-time conditions. The announcement adds to geopolitical uncertainty in the region, a key chokepoint for global oil shipments.
AI Security Race Heats Up: OpenAI vs. Anthropic
OpenAI has released the full version of GPT-5.5-Cyber, a model tailored for cybersecurity defense. In the CyberGym benchmark, which tests an AI agent's ability to reproduce known vulnerabilities, GPT-5.5-Cyber scored 85.6% as a single model, outperforming GPT-5.5's 81.8% and Anthropic's Mythos 5 at 83.8%. Separately, Anthropic's Mythos model reportedly discovered vulnerabilities in a U.S. government classified system during testing. OpenAI also upgraded its Codex Security plugin, which has scanned over 30 million code commits since March and automatically confirmed fixes for 500,000 security flaws. The company launched the "Patch the Planet" open-source security initiative with Trail of Bits and HackerOne, providing ChatGPT Pro subscriptions and API credits to over 30 major open-source projects.
Prediction Market Expansion: Meta and CBOE Enter the Fray
Meta CEO Mark Zuckerberg has directed a team to develop a smartphone app called Arena, independent of Facebook and Instagram, to compete with prediction markets like Polymarket and Kalshi. Currently in internal development, Arena uses a gamified points system rather than real money, though real-money betting may be introduced later. Separately, the Chicago Board Options Exchange (CBOE) launched CBOE Predicts, a prediction platform that will list its first products in a new series.
Regulatory Developments: South Korea and U.S. Crypto Tax Framework
South Korea's financial regulator is considering separate stability measures for single-stock leveraged ETFs, particularly those tracking Samsung Electronics and SK Hynix. Financial Supervisory Service Governor Lee Chan-jin expressed concern that retail investors are unlikely to see real gains while profits flow to operators. The total market cap of these ETFs doubled from 4.5 trillion won on their May 27 launch to 9.6 trillion won by June 12, with daily turnover averaging 122.5%. The KOSPI index fell 7% on Monday, triggering a circuit breaker. In the U.S., Senator Steve Daines said the Senate's cryptocurrency tax legislative framework is largely complete, with a bill possible by autumn. The framework is "more similar than different" to the House's version, he noted.
Institutional Moves: ARK Invest, Franklin Templeton, and F2Pool
Cathie Wood's ARK Invest bought over 210,000 SpaceX shares worth at least $32 million after the stock dropped 16%, marking its third consecutive daily decline. Despite the drop, SpaceX shares remain above the $135 IPO price. Franklin Templeton completed its acquisition of 250 Digital, a crypto active investment manager, and formed a new division called Franklin Crypto. The $1.7 trillion asset manager will invest its own capital in the liquidity strategies, with Christopher Perkins and Seth Ginns co-leading the unit. Separately, F2Pool co-founder Wang Chun added $4.57 million worth of BTC and ETH over the past 24 hours, buying 50 WBTC at $62,260 and 822.51 ETH at $1,771.89.
Project Updates: Goldfinch, Taiko, and Funding Rounds
Goldfinch, a decentralized lending protocol, is voting on a proposal to enter maintenance mode and gradually liquidate its Goldfinch Prime business. The proposal, with 100% approval so far, includes winding down Prime operations, supporting historical borrower pool liquidations, and maintaining legacy app access. Warbler Labs would receive $150,000 in service fees. Taiko reported that it has identified the root cause of a cross-chain bridge attack that may have cost up to $1.7 million, and is working with exchanges and security partners to trace and freeze the hacker's assets. In funding news, blockchain data firm Allium raised $40 million in Series B funding led by Amplify Partners, with participation from Kleiner Perkins and Theory Ventures. On-chain trading ecosystem TurboFlow secured $6 million in seed funding from Pantera Capital, Susquehanna Crypto, and Digital Currency Group.
Voices: CBOE Mulls Perpetual Futures, Bankless Founder Backs Ethlabs
ETF Store President Nate Geraci said CBOE is considering converting its Bitcoin and Ether continuous futures products into perpetual futures, calling it "just the beginning" of traditional finance absorbing crypto-native innovation. Serenity, a market commentator, described the recent downturn as a "clear buying opportunity" for Micron Technology, Intel, and TSMC, dismissing narratives of three Fed rate hikes this year as unsupported by data. Bankless founder David Hoffman, who previously sold all his ETH, expressed support for the newly formed Ethlabs, a nonprofit founded by former Ethereum Foundation researchers. Hoffman said the EF deliberately left a power vacuum for new organizations to shape Ethereum's future, and that Ethlabs represents "the brightest future for Ethereum."