👀Ethereum's Beam Chain Overhaul

GM Defiers!

Justin Drake, an Ethereum Foundation researcher, wants to rebuild Ethereum’s consensus layer. Dubbed the Beam Chain, the proposal seeks to revamp Ethereum’s tokenomics, block production, and cryptography.

Bitcoin soared to a fresh all-time high of $89,864 before consolidating. ETH and SOL dipped by 2% and 4%, respectively.

Reports indicate that the team of President-elect, Donald Trump, is looking to make good on his promises to support the web3 industry. The team is rumored to be vetting pro-crypto officials as candidates to lead some of the country’s top financial regulatory institutions.

And Pendle unveiled plans to launch a leveraged yield tokenization platform. The upcoming protocol, Boros, will first target crypto funding rates.

✍️ In today’s newsletter:

• Ethereum researcher wants to replace Beacon Chain
• Bitcoin approaches $90,000
• Crypto-friendly commissioners could take the SEC’s helm
• Pendle sets sights on leveraged yield tokenization

📈 Markets in the last 24 hrs:

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🛸Justin Drake Proposes Beam Chain Overhaul For Ethereum

One of the Ethereum Foundation’s top researchers wants to completely rebuild Ethereum’s consensus layer. Speaking at DevCon, Justin Drake proposed replacing the Beacon Chain with the Beam Chain by overhauling staking emissions, improving block production, and embracing zero-knowledge cryptography.

🇺🇸 Trump Considers Pro-Crypto Officials To Head SEC

The team surrounding the incoming U.S. president is reportedly looking into several pro-crypto past and present SEC commissioners to potentially head the agency during Trump’s second presidential term. Mark Uyeda, Dan Gallagher, Paul Atkins, and Hester Peirce are believed to be among the front-runners.

SPONSORED POST

Humanity Protocol is a zero-knowledge EVM-compatible Layer 2 that aims to solve the digital identity crisis posed by issues such as the growth of both sophistication and deepfake content.

Humanity Protocol leverages blockchain with non-invasive biometrics data to create its “Proof-of-Humanity” (PoH). PoH serves as a verification system in digital networks without the need to repeatedly divulge sensitive or personal information.

This approach to ID verification offers a modern, decentralized, and efficient approach to identification management in an increasingly digital world and can also mitigate crypto-specific issues like sybil attacks and fraud scams.

Humanity Protocol raised $31.5 million in funding in 2024, and is led by its CEO and Founder Terrence Kwok, and features advisors such as the founder of Animoca Brands, Yat Siu, and Sandeep Nailwal, the co-founder of Polygon.

READ MORE: What is Humanity Protocol?

🚀Bitcoin Consolidates after Approaching $90,000

This is the first time the crypto market has surpassed $3 trillion since November 2021, when Bitcoin reached its previous all-time high of $69,000. The rally comes as the market shows renewed strength, buoyed by institutional inflows and shifting regulatory expectations.

🆕Pendle Announces Leveraged Yield Tokenization Platform

Pendle plans to launch a new protocol facilitating leveraged yield tokenization. Dubbed Boros, the new platform will first target tokenized crypto funding rates, enabling new strategies for margin traders and DeFi farmers.

🌍 ELSEWHERE

• The German government missed out on $1.6 billion by selling its bitcoin early (The Block)
• Fairshake Notches Another Win With Arizona's Ruben Gallego; 16 House Seats Still Uncalled (CoinDesk)
• Tether prints $5 billion USDT in 5 days adding to bull run market liquidity (CryptoSlate)
• Will There Be a Wave of Crypto IPOs Following Trump’s Victory? (Unchained)

🔥TRENDING

• FTX Sues Binance Over $1.76B Share Repurchase Deal
• ENS Is Developing a ZK Layer 2
• Avara Launches Non-Custodial Ethereum Wallet
• A16z Predicts Bright Future for Crypto Under Trump
• Degenchain Blames Conduit for Migration Struggles
• Polkadot Blockchain Academy Announces PBA-X to School Next Wave of Web3 Professionals