Ethereum Foundation Doubles Down on DeFi
Plus, Flying Tulip token starts trading.
Olivia Capozzalo & Camila Russo
February 24, 2026
gm, Defiers!
Today’s top news:
- EF creates DeFi-focused unit
- Flying Tulip token starts trading
- Crypto.com gets initial banking license approval
- Coinspect Releases Wallet Security Ranking Update [SPONSORED]
Read more below! But first, please give our sponsors some love; they make this newsletter possible.
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We’re back! Here’s what you need to know in web3 today
📈 Markets in the Past 24 Hours
| TICKER | VALUE | 24H | |
|---|---|---|---|
 | Bitcoin | $64,596 | -0.18 % |
 | Ethereum | $1,856.61 | -0.07 % |
 | XRP | $1.36 | -0.28 % |
 | BNB | $589.06 | -1.44 % |
 | Solana | $78.3 | -0.59 % |
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🎬WATCH
Why DAO Governance Always Turns Political
In this episode of The Defiant Podcast, Cami sits down with Rune Christensen to discuss why DAO governance becomes a struggle for resources, how the "iron law of bureaucracy" emerges, and why Sky redesigned its architecture to survive it.
Watch the full interview:
Top News in the Past 24 Hours
Ethereum Foundation Pledges to Support Privacy-First, Permissionless DeFi
In a blog post published on Monday, the Ethereum Foundation announced it’s forming a dedicated internal unit to support DeFi builders and to scale what it calls “cypherpunk values alongside market growth.”
Why it matters: The post reaffirms the EF’s commitment to its “Defipunk” framework, which it defines as “not finance that's marginally better than TradFi, but finance that couldn't exist without Ethereum.”
Andre Cronje’s Flying Tulip Token Trades Near $1B FDV Floor
Flying Tulip’s native token, FT, began trading on the open market yesterday. After an initial dip to around $0.08, FT has spent its first 24 hours trading sideways around the $0.10 mark, or a $1 billion FDV, which represents the token’s floor price, per its tokenomics.
Why it matters: The project is the latest from Andre Cronje, a systems architect best known for building early DeFi protocols Yearn Finance and Fantom.
Crypto.com Secures Conditional Approval for National Trust Bank Charter
Centralized cryptocurrency platform Crypto[.]com has received a conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish Foris Dax National Trust Bank, d.b.a. Crypto[.]com National Trust Bank.
Why it matters: The move aligns with a broader industry trend where crypto firms are pursuing regulatory approvals to enhance their credibility and expand service offerings.
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- Fusaka Upgrade Fuels Record Address Poisoning on Ethereum
- Only 1 in 10 Weak Token Launches Recovered in 2025: Arrakis
- Lightspark Teams Up with Cross River Bank for Fiat Payments via Bitcoin
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