📈Bitcoin Tags $77,000 on Record ETF Inflows

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The Ethereum Foundation has published its long-awaited policy on employee and contractor conflicts of interest. The move comes after ` ignited by Justin Drake and Dankrad Feist taking positions at Eigenlayer.

Bitcoin traded above $77,000 for the first time, as ETH approached $3,000. Meanwhile, SOL and DOT gained 3% and 5%, respectively.

MakerDAO’s governance has confirmed that the project will move forward with its Sky rebrand. The veteran DeFi protocol launched its new brand identity in September, but not everyone in the community is sold.

Ethena is the latest DeFi protocol facing pressure to activate a fee switch. The project has generated $128 million in fee revenue this year.

Also, GRASS soars to a $3 billion valuation, Eclipse launches mainnet, and Detroit aims to support crypto for tax payments next year.

✍️ In today’s newsletter:

Ethereum Foundation unveils conflicts of interest policy
Bitcoin ETFs attract record daily inflow
MakerDAO sticks with Sky rebrand
Wintermute calls on Ethena to share revenue with ENA stakers
GRASS rockets after airdrop
Eclipse ships SVM-powered layer 2
Detroit to support tax payments in crypto

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🔍Ethereum Foundation Reveals Conflict Of Interest Policy

The Ethereum Foundation’s new conflict of interest policy requires contractors and employees to disclose crypto investments exceeding $500,000, external positions worth more than $25,000 annually, and angel investments greater than $400,000 per year. The policy comes as employees Dankrad Feist and Justin Drake stood down from cushy advisory gigs at EigenLayer.

🚀Bitcoin Touches $77,000 as Spot ETFs Attract Record $1.4 Billion

The crypto market rallied for a fifth consecutive day, buoyed by Donald Trump’s election win and the Federal Reserve’s latest interest rate cut.

🎭MakerDAO Governance Confirms Sky Rebrand Will Go Ahead

MakerDAO’s governance delegates backed continuing the project’s Sky rebrand with 80% support. Although the new identity went live in September, the project’s co-founder put the rebrand to a governance vote following community uncertainty.

💰Wintermute Calls For Ethena To Share Revenue With Stakers

Wintermute wants Ethena to distribute a portion of protocol fees to ENA stakers. The price of ENA surged 40% since the proposal went live, but fee switch proposals have struggled to find momentum with other web3 projects.

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‍🚀GRASS Token Soars to $3 Billion Valuation

GRASS is bucking the usual trend of a post-airdrop slump, with the token’s fully diluted valuation surging 328% since launching less than two weeks ago. Grass is an internet bandwidth-sharing network and a newly minted front-runner of the burgeoning DePIN sector.

‍🆕Eclipse Launches Public Mainnet

Eclipse, an Ethereum Layer 2 supporting Solana Virtual Machine smart contracts, has launched its mainnet to the public. The network already supports prominent dApps from the Solana ecosystem, including Orca and Save.

🇺🇸 Detroit to Become Largest U.S. City Accepting Crypto for Taxes

Detroit is set to become the largest U.S. city supporting tax payments in the form of crypto next year. At least five U.S. states and several municipalities already support digital assets for government payments.

🌍 ELSEWHERE

Coinbase’s Brian Armstrong champions ‘crypto mom’ Hester Peirce for SEC chair (CryptoSlate)
WonderFi CEO Safe After Paying $720,000 Ransom to Kidnappers (Decrypt)
‘See you in hell': crypto trader Cobie burns gifted 60% supply of Pump.fun Solana memecoin 'UPONLY' (The Block)
Coinbase’s cbBTC Crosses $1 Billion Market Cap, Deploys on Solana (Unchained)