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Stellar Development Foundation Invests in Archax to Boost Tokenization
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Stellar Development Foundation Invests in Archax to Boost Tokenization

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The Stellar Development Foundation (SDF), the organization supporting the Stellar

blockchain, invested in UK-based digital asset exchange and tokenization firm Archax as part of a broader partnership to boost tokenized real-world assets (RWAs), the firms said in a press release shared with CoinDesk.

Archax has already started using Stellar, integrating the network into its in-house tokenization platform and launching a tokenized Aberdeen money market fund.

The firms didn’t disclose the size of the investment.

The deal comes as tokenization of traditional financial instruments like bonds, funds and stocks, often dubbed real-world assets (RWA), is gathering speed. Global banks and asset managers are exploring this technology to cut settlement times, increase transparency and keep markets open around the clock. The tokenized RWA market has doubled over the past year to $26 billion and is projected to grow into a trillion-dollar market by 2030, according to reports by McKinsey, Ripple, BCG and others.

“The Stellar network was purpose built to enable fast settlement times, low costs, and the tokenisation of real-world assets that is the future of finance,” said Raja Chakravorti, chief business officer at the Stellar Development Foundation. “

Archax acquired BaFin-regulated Deutsche Digital Assets last month in a bid to expand into crypto exchange-traded products in Europe.

Read more: Real-World Asset Tokenization Market Has Grown Almost Fivefold in 3 Years



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Vitalik Buterin Confirms Ethereum Foundation Support for Tornado Cash Cofounder
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Vitalik Buterin Confirms Ethereum Foundation Support for Tornado Cash Cofounder

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Ethereum (ETH) cofounder Vitalik Buterin has confirmed that the Ethereum Foundation, a nonprofit organization that supports projects related to the blockchain, is involved in fundraising for Roman Storm. Buterin announced this in a post on his X handle to the cryptocurrency community.

Ethereum Foundation steps in as legal battle approaches

According to Buterin, the Ethereum Foundation is currently “matching donations” toward the legal defense of Storm, the Tornado Cash cofounder. Notably, Storm is currently facing legal issues in the U.S., including charges related to money laundering and sanctions violations.

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For context, Storm’s legal case is controversial in the crypto world. Many in the Ethereum and broader community view it as a threat. They consider the legal case a way to suppress “open-source” development and financial privacy tools.

The U.S. government sanctioned Tornado Cash in 2022 for allegedly using different parts of its supply chain to support nefarious activities. According to the allegations, Tornado Cash assisted North Korea in laundering some funds stolen from Axie Infinity.

Understandably, prominent figures in the crypto community are supporting his defense by contributing to cover his legal fees. Buterin, in his recent post, has now confirmed that for every donation made to the cause, the Ethereum Foundation will match it.

This move could go a long way toward ensuring that Storm gets the proper representation when his case goes to court. According to Roman Storm’s notice, willing donors have 19 days left to send their donations for his legal defense fund.

U.S. Treasury sanction reversal adds hope to Storm’s defense

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Interestingly, the U.S. Treasury Department finally lifted the sanctions on Tornado Cash in March 2025. Many in the DeFi community have hailed this as a significant win for the decentralized finance sector in the U.S. Some believe this might even help Storm’s case in court.

Buterin’s current effort through the Ethereum Foundation to match donations made toward Storm’s defense is a way to ensure that the crypto developer gets the best legal team.



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Elliptic, Internet Watch Foundation Team Up to Combat Crypto Financing of Child Abuse Material

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In brief

  • Blockchain intelligence firm Elliptic has become a member of the Internet Watch Foundation, a nonprofit set up to address online child sexual abuse materials.
  • In a 2024 report, the IWF found that cryptocurrencies were offered as a method of payment option on over 60% of child abuse websites with payment options.
  • CSAM websites are increasingly turning to privacy coins such as Monero, though Elliptic noted that they are “often only complementary to traceable assets.”

Blockchain intelligence firm Elliptic has become a member of the Internet Watch Foundation, as part of its ongoing efforts to combat the financing of child sexual abuse material (CSAM) via cryptocurrency.

The partnership between the two parties means that Elliptic gains access to the IWF’s range of services, including its virtual currency alerts.

These alerts will provide the London-based company with real-time data on cryptocurrency transactions that involve the purchase of CSAM, identifying the payment networks used in the transactions and the wallet addresses.

By integrating with the IWF’s real-time alert system, Elliptic is aiming to better help its clients prevent transactions associated with child abuse and exploitation.

“IWF analysts find images and videos of some of the worst types of child sexual abuse on websites that profit from the sale of this horrific content,” said acting IWF CEO Derek Ray-Holl. “By working with us, Elliptic can help to disrupt the spread of this criminal imagery and stop this type of illegal purchasing in its tracks.”

Last year, U.S. Senators Elizabeth Warren (D-MA) and Bill Cassidy (R-LA) sent a bipartisan open letter to the U.S. Department of Justice and Department of Homeland Security describing crypto as the “payment of choice for child abuse material.”

Their assertion appears to be borne out by the IWF’s Annual Data & Insights Report 2024, which found that cryptocurrencies are the most commonly offered method of payment on commercial CSAM websites, with 60.87% of URLs that do not hide payment options enabling crypto transfers (or 518 out of 851 webpages).

In November 2022, the IWF published a report finding that CSAM websites accepting crypto payments had “doubled almost every year since 2015,” although with 1,014 such sites recorded in 2022, the figure doesn’t appear to have doubled since.

For Elliptic, partnering with the IWF to combat the spread of CSAM is one facet of its wider efforts to foster a safer digital ecosystem.

Giuseppe Fersini, Elliptic’s Head of Intel, told Decrypt that the firm is an “engaged member” of the IWF’s global alliance. “We support IWF’s vital mission not only through the integration of relevant data into our blockchain intelligence platform, but also through active participation in strategic discussions and knowledge-sharing around how payment systems, including cryptocurrencies, are exploited in the distribution of child sexual abuse material,” he added.

Privacy coins and crime

The past few years have witnessed an increase in CSAM websites making use of Monero and other privacy coins, according to a 2024 Chainalysis bulletin, which suggested that “Monero may be helping those CSAM vendors [which use Monero-friendly exchanges to] survive longer.”

Such usage raises a problem for organizations such as the IWF and Elliptic, which could potentially struggle to trace the flow of illicit crypto if more criminals use privacy tokens.

While acknowledging that such coins offer “ways to obscure the source and destination of funds,” Fersini also affirmed that they “are often only complementary to traceable assets” and may only be one element in a wider obfuscation strategy.

“This trend reinforces the need for advanced solutions and high-quality intelligence,” he adds. “Elliptic addresses this challenge by providing data capabilities that are asset-agnostic and optimized to detect patterns and connections even in the face of deliberate concealment.”

In terms of the future, the IWF is “looking to expand [its] Membership into the blockchain/crypto industry,” according to its Press Officer Cat McShane, who reminded Decrypt that blockchain analytics firm Chainalysis also works with the non-profit organization.

She says, “It is imperative that we disrupt the commercialization of CSAM as much as we can and having organizations like Elliptic on our side really aids this.”

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1inch Foundation Proposes User Compensation Plan Following October Hack

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In brief

  • A DAO proposal is seeking to reimburse $768,026 in USDC to affected users.
  • But victims must submit KYC and law enforcement reports.
  • The vote currently stands at 53.47% in favor, 46.53% against.

The 1inch Foundation has submitted a new proposal to its decentralized autonomous organization to compensate users affected by an October 2024 exploit.

The proposal, dubbed 1IP-80, outlines a reimbursement plan of $768,026 in USDC—the estimated value of the stolen tokens at the time of the attack—to be sourced from the DAO’s treasury.

The DeFi DEX aggregatir Foundation would oversee the verification and distribution process, requiring victims to complete Know Your Customer identity verification, provide evidence of losses, file a report with law enforcement, and sign a compensation agreement.

It did not specify precisely what KYC would be required. 1inch does not require users to complete a KYC process to trade on its platform, making it a popular choice for those who prefer not to use centralized exchanges that have this requirement.

A case is currently under investigation in the Canary Islands, whereby victims would also need to waive their right to any funds recovered in the future.

An exploit occurred on October 30 last year, when attackers compromised the 1inch decentralized application via a supply chain vulnerability in the Lottie Player library, a plugin used for animations on websites.



Unlike the more recent $5 million breach of 1inch in March 2025, which saw the return of most funds through negotiations with the hacker, no restitution was previously made in the October case.

Under the proposal, the DAO would transfer the funds to the Foundation, which would process claims and disburse compensation. Victims would be required to forfeit any rights to recovered assets, which would instead be returned to the DAO treasury.

As of publication, 30 votes have been submitted. The vote currently stands at 53.47% in favor (3.8 million votes) versus 46.53% (3.3 million) against.A single large voter wallet dominates each side. 

One wallet accounts for the entire 3.3 million ‘no’ votes, while another holds 2.2 million of the 3.8 million votes in favor.

The dissenting wallet argues that the DAO should not act as an insurance fund, citing a lack of recurring revenue. The vote remains open until June 22.

Edited by Sebastian Sinclair

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Cardano Foundation Launches Originate to Drive Enterprise Growth

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Cardano’s ADA

was down 1.71% over the past 24 hours, trading at $0.6229 as of June 14. The asset briefly slipped to $0.6176 before stabilizing, holding its footing despite a sharp wave of selling from large holders.

According to recent market data, whales have offloaded over 270 million ADA —worth roughly $170 million — in a move that has added significant pressure to the token’s price action during a week marked by geopolitical volatility.

Yet, amid the sell-off, the Cardano Foundation unveiled a new product aimed at enterprise adoption. On Thursday, the organization launched Originate, a blockchain-based solution for verifying product origin and authenticity. Designed to help businesses streamline compliance and protect against counterfeits, Originate allows companies to digitize and track critical product data on-chain, enabling instant verification by consumers and regulators.

On its website, the Foundation emphasized that Originate is built to strengthen brand trust in industries where supply chain transparency is critical. By positioning itself as a tool for regulatory compliance and consumer assurance, the product may help bolster Cardano’s reputation in enterprise circles —especially at a time when investors are searching for real-world use cases beyond DeFi and staking.

The announcement comes just days after ADA was added to the Nasdaq Crypto Index, joining Bitcoin and Ethereum. While short-term sentiment remains fragile due to whale behavior and broader risk-off macro trends, Cardano’s expanding institutional profile could provide longer-term support.

Technical Analysis Highlights

  • ADA ranged between $0.6176 and $0.6428, closing near $0.6229, a 1.71% daily loss.
  • Resistance remains strong near $0.642–$0.645, while price broke below support at $0.636.
  • Heaviest volume spikes occurred after 18:00 GMT as price dipped below $0.62, triggering brief sell-off followed by consolidation.
  • Trend remains bearish with lower highs forming throughout the day, and rejection at $0.635.
  • Price action suggests near-term stabilization, but whales remain dominant in setting market direction

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.



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Ethereum Foundation Donates $500,000 To Tornado Cash Co-Founder’s Legal Defense

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The Ethereum Foundation (EF) has announced that it will be contributing $500,000 to the legal defense of Tornado Cash co-founder and developer Roman Storm. Storm faces three charges in the upcoming trial related to operating a crypto mixer in the United States.

‘Privacy Is Normal, And Writing Code Is Not A Crime’ – EF

In a June 13 post on the X platform, the Ethereum Foundation disclosed that it would donate $500,000 to Storm’s defense in the upcoming court trial. In addition to the significant contribution, the foundation intends to match up to an extra $750,000 in donations from the crypto community.

This Ethereum Foundation’s announcement comes about a month before the beginning of the trial, which would see Storm battle charges including conspiracy to commit money laundering, conspiracy to violate  US sanctions, and conspiracy to operate an unlicensed money-transmitting business. If found guilty of all these charges, the crypto mixer co-founder faces a prison sentence of up to 45 years.

While Storm’s legal defense team has tried to get these charges dismissed in court, his trial is set to begin in New York on Monday, July 14. For his defense, the Tornado Cash developer is looking to raise about $2 million.

The Ethereum Foundation wrote in the post on X:

Privacy is normal, and writing code is not a crime.

This statement touches on what has been a major talking point — privacy concerns — in the crypto community since Storm’s arrest in 2023 and other similar cases (the arrest of Telegram’s co-founder, Pavel Durov, in 2024). While the US prosecutors have declared intentions to drop the charge of operating an unlicensed money transmitting business, Storm has maintained his innocence throughout this legal battle.

Tornado Cash Co-Founder Speaks Out On Social Media

Earlier on Friday, Storm took to the social media platform X to appeal for the support of the crypto community, saying that the US judicial system is “trying to crush” him. 

The crypto co-founder said: 

If I lose, DeFi dies with me. The dream of financial freedom, the code I believed in—it all fades into darkness. I’m fighting, but the weight is unbearable. This isn’t just my end; it’s ours.

Storm also posted an appreciation message on X to the Ethereum Foundation for its $500,000 donation to his legal defense. “Your support means the world to me, especially standing up for privacy and the right to code. I’m so grateful to everyone chipping in—your generosity is truly inspiring! Thanks from the bottom of my heart,” the co-founder concluded.

The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView

Featured image from Getty Images, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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One Drive to $3,000, XRP's $2 Foundation is Safe Now
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One Drive to $3,000, XRP’s $2 Foundation is Safe Now

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  • Ethereum is close
  • XRP stands still

The asset may either stabilize or continue to decline as Shiba Inu approaches a crucial turning point. For the past two days, SHIB has been unable to overcome a significant resistance level, and it is currently trading at $0.00001277. This level corresponds with the 26-day Exponential Moving Average, which seems to be functioning as a strong rejection zone at this time. Price action has not closed above the $0.00001336-$0.00001390 range, where the 26 EMA, 50 EMA and 100 EMA are closely stacked despite several attempts to move higher. 

Two consecutive days of price rejection by the 26 EMA, in particular, is a strong technical indication that market participants are hesitant to commit to the upside. The market’s general hesitancy is reflected in this impasse. This week’s drop in volume indicates that neither bulls nor bears are very interested or convinced.

SHIB/USDT Chart by TradingView

This lack of momentum around a key resistance, however, frequently comes before a breakdown, particularly when market sentiment or fundamentals are not getting better. Since mid-May, the horizontal support level around $0.00001200 has held, and this is the area of greatest immediate concern. There is a good chance that SHIB will retest that support if the 26 EMA rejection holds and selling volume rises.

Furthermore, the structure indicates that it might not hold this time. Investors need to exercise caution. The 26 EMA is essentially acting as a ceiling that, in the present circumstances, is becoming unbreakable. A deeper correction is more likely in the absence of new inflows or a potent macro catalyst.

Ethereum is close

Ethereum is poised for a big breakout, and it could cross the $3,000 mark with just one powerful growth wave. ETH is now trading at about $2,750 after breaking out of the narrow consolidation channel it had been following for the majority of May and clearing a significant resistance zone. 

Technically, things look good. Every major moving average, including the 50, 100 and 200-day EMAs, which act as layered support below the current price, is comfortably above Ethereum’s current level. With ETH recently confidently reclaiming the $2,600 level and soaring above $2,750, this foundation strengthens the bullish narrative.

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A slight increase in volume on recent green candles suggests that buyers are entering the market with new vigor. Because it is above 60, the Relative Strength Index (RSI) indicates bullish momentum without going into overbought territory. Instead of peaking, these indicate that the market is warming up. At this point sentiment-driven resistance is the only thing keeping Ethereum from reaching the psychological $3,000 level. 

A persistent push fueled by general market optimism or a catalyst like ETF news or network updates could easily send ETH into new local highs as there are not any significant technical barriers above the current levels. The next move for traders should be a slow grind up toward $2,900-$3,000 if the current support around $2,600-$2,650 holds. A rejection from this point would probably retest support at the 200-day EMA, which is at about $2,473. However, given Ethereum’s strengthening structure, that scenario now appears less likely.

XRP stands still

One significant conclusion from XRP’s recent price behavior is that it is stabilizing, and the $2 price level is now beginning to form solid support for the asset. Above its 200-day EMA, which is currently at $2.09 and has historically been a dependable floor during bullish transitions, XRP is demonstrating strong resilience at the current price of $2.24. Long-term investors often use the 200 EMA to distinguish between the trend continuation and breakdown; it is not just technical jargon.

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Additionally, XRP has so far shown it complete respect. In early June bears tested this level several times but were unable to force a deeper decline. Rather there was a significant uptick in buying interest as XRP recovered and regained ground above its 50-day and 100-day EMAs ($2.25-$2.26).

The RSI is in neutral territory, indicating that the asset is coiling rather than overbought or oversold, while volume has stayed steady. The idea that $2 is now structural support rather than merely psychological support is supported by this consolidation that occurred just above the 200 EMA.

This changes the risk-reward profile in favor of XRP, but what does this mean for investors? A break is unlikely as long as XRP stays above the $2.09-$2.10 range, and there is a much greater chance of a bounce toward higher resistance like the $2.60 level.



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Ethereum Foundation Sets Treasury Strategy to Back DeFi, Cut Spending Over Time

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In brief

  • Following community feedback, the policy seeks to normalize the foundation’s approach to selling ETH.
  • The foundation plans to reduce annual expenses from 15% to 5% over the next five years.
  • It’s also adopting a set of “Defipunk” principles to screen DeFi protocols before deploying its treasury assets.

The Ethereum Foundation has published a new treasury policy that aims to reshape how its reserves are held and invested, seeking to rewrite the playbook in a way better suited to the on-chain world it helped create.

The new set of treasury policies marks two key moves from the non-profit organization that stewards development for the Ethereum ecosystem. 

It aims to reduce annual spending from 15% of assets to just 5% by 2030 and will also seek to utilize its treasury for DeFi protocols.

Those prospects are projected to “earn acceptable returns on treasury assets” while staying “consistent with Ethereum’s underlying principles,” Hsiao-Wei Wang, co-executive director at the foundation, wrote Wednesday.

The new policies formalize a lower spending trajectory and a rule-based approach for converting the foundation’s Ethereum reserves into cash.

It plans to achieve this by committing to reduced annual operating expenses and creating a predictable “glide path and baseline” toward spending, Wang explained.

The foundation “expects to remain a long-term steward, but envisions its scope gradually narrowing,” Wang claimed.

The rule-based conversion, meanwhile, works by automatically selling Ethereum (ETH) only when cash reserves fall below the 2.5-year expense buffer (approximately 37.5% of the treasury), Wang wrote.

For every quarter, the Ethereum Foundation will sell a portion of its Ethereum reserves based on the amount of cash required, converting the Ethereum to fiat through exchanges or on-chain swaps.

The target cash reserve, calculated as annual operating spend, multiplied by the desired runway, “directly informs the size and the cadence of ETH sales,” Wang noted.

Decrypt approached the Ethereum Foundation to learn more.

Ethereum goes ‘Defipunk’

In the note, the foundation introduced “Defipunk,” a new term that describes how “cypherpunk” values can be applied to DeFi (decentralized finance) and the broader Ethereum ecosystem.

The term is derived from and borrows core ideas in the Cypherpunk Manifesto, written by American programmer and mathematician Eric Hughes in 1993.

In the manifesto, Hughes argues that privacy is essential for a free and open society. To keep it, individuals need to build practical defenses through cryptography and code, rather than relying on the authority of governments or corporations.



The foundation has established criteria for projects it seeks to support, aligning with the vision.

“For privacy to be widespread, it must be part of a social contract,” Hughes wrote.

The Ethereum Foundation echoes this, with Wang noting that privacy has “inherent network effects,” and yet has received “very little attention so far.”

“Strong, early institutional support” from entities such as the Ethereum Foundation could be “uniquely valuable in flipping the equilibrium” for privacy in the decentralized finance sector, Wang wrote.

Edited by Sebastian Sinclair

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Ethereum Foundation Restructures R&D Division, Plans ‘Rethink’ on Design and Development

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In brief

  • The Ethereum Foundation is restructuring its Protocol R&D teams under the “Protocol” brand, a new initiative umbrella.
  • Three strategic initiatives are expected to target scaling Layer 1, scaling blobs, and enhancing the user experience.
  • Some team members won’t continue with the foundation as the organization streamlines operations.

Less than a month after the Pectra Upgrade, the Ethereum Foundation believes that the world’s second-largest crypto, both as a technology and as an ecosystem, is approaching major breakthroughs with higher stakes for a broader audience.

Yet those stakes could be at risk if the people steering it are entrenched in what it calls a messy process: shipping protocol.

“We must rethink our current approach to designing, developing, and stewarding the protocol,” the foundation wrote Monday, announcing the restructuring of its Protocol Research & Development teams.

The move is set to consolidate development efforts under a new “Protocol” division, focusing on three immediate goals. The foundation touts the move as a way to “respond proactively” to demands that it claims are “hard to articulate and even harder to fulfill.”

The overhaul divides teams into three initiatives: scaling the main blockchain (Layer 1), scaling blobs for data storage, and improving the user experience.



Each initiative is assigned dedicated leadership: Tim Beiko and Ansgar Dietrichs are responsible for L1 scaling, Alex Stokes and Francesco D’Amato will oversee blob scaling, while Barnabé Monnot and Josh Rudolf are tasked with improving user experience.

But not everyone is staying and making the cut for Protocol. Some members “won’t be continuing with the Ethereum Foundation,” it said, while encouraging ecosystem projects to recruit departing talent.

Decrypt reached out to the Ethereum Foundation to learn more.

Strategic roles

The three teams will be supported by Dankrad Feist, a prominent researcher and cryptographer renowned for “Danksharding,” a blockchain optimization process named after him. Feist will work as strategic advisor to all tracks.

Last year, Feist was involved in a conflict of interest controversy, when he, alongside fellow core developer Justin Drake, confirmed they received tokens for their advisory relationship with EigenLayer, a restaking protocol for Ethereum.

“It is clear that relying on culture and individual judgment has not been sufficient, and we have been working on a formal policy to address this,” Aya Miyaguchi, the foundation’s former Executive Director, said at the time.

Still, the Ethereum Foundation’s efforts at restructuring with Protocol aim to bridge a perceived gap between research and actual implementation.

Previous upgrades, such as Pectra, faced several hurdles: testnet failures earlier this year delayed the rollout by weeks as developers scrambled to patch bugs.

Now, through Protocol, the foundation is attempting to show “the world is ready for the world computer.”

Edited by Sebastian Sinclair

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Ethereum Foundation Lays Off Some Staff Amid R&D Restructuring

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The Ethereum Foundation has laid off some members of its research and development team as part of a broader restructuring effort aimed at refocusing on critical protocol design challenges, the organization said in a blog post Monday.

The shake-up comes as the Switzerland-based nonprofit grapples with ongoing criticism over its management and strategic direction. Some in the Ethereum community have warned for over a year that failure to address key technical hurdles could threaten Ethereum’s status as an industry leader, and the organization has already undergone leadership changes in part to address these concerns.

The foundation is rebranding its Protocol Research and Development division under the simplified name “Protocol,” and is repositioning the group around three main priorities: scaling Ethereum’s base layer, expanding blobspace (a key part of its data availability strategy), and improving user experience.

“The changes we’re announcing today are a departure from our previous ways of working, but we feel these set us on a more responsive and effective path,” the foundation said in its post.

The EF did not disclose how many staff were affected by the layoffs. “[S]ome members of PR&D won’t be continuing with the Ethereum Foundation,” the blog stated. “We hope these individuals continue on in the Ethereum ecosystem and encourage others building out their teams to seek them out.”

A spokesperson for the foundation did not respond to a request for comment.

The restructured Protocol team will serve as a hub for Ethereum’s core development efforts, aiming to improve public visibility into upgrade timelines, technical documentation, and research.

“We’re hopeful that this new structure will empower our internal teams to focus more clearly and drive key initiatives forward,” said Hsiao-Wei Weng, the co-executive director at the EF in a post on X.

Read more: Ethereum Foundation Picks New Co-Executive Directors, Following Leadership Reshuffle



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