Lido begins migrating $16.5B in staked ether to cut Ethereum validator count

Lido started consolidating 8 million staked ether ($16.5B) onto Ethereum's post-Pectra validator design, expected to reduce the network's total validator count by a third and slash attestation messages by 29%. The U.S. Senate delayed the CLARITY Act vote to focus on Russia sanctions and nominations, with Coinbase CEO Brian Armstrong urging a vote before recess. Ondo Finance unveiled the Ondo Network, a non-custodial execution layer that powers its new perpetual futures platform.

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Lido begins moving $16.5B in staked ether to cut validator count by a third The consolidation of 8M ETH onto Ethereum's post-Pectra validator design eases network consensus load and requires node operators to post ETH bonds for the first time. 1

Senate delays Clarity Act vote as Coinbase CEO pushes for passage before recess Majority Leader Thune prioritized a Russia sanctions bill and nominations, reducing the available window for the crypto market structure bill. Armstrong called the compromise at the 'one-yard line' and urged immediate action. 2 3

Ondo Finance launches Ondo Network, non-custodial execution layer for Perps The network offers fast, private, and verifiable trading, with Ondo Perps as its first application. Ondo shifted from building a traditional blockchain to focus on execution optimization. 4

China’s largest IPO since 2010 becomes first major Asian test for crypto pre-IPO futures A synthetic perpetual contract on Hyperliquid let traders bet on ChangXin Memory Technologies days before its $8.6B listing, surging to a peak implied valuation of $560B. 5

Circle mints $500M USDC on Solana as stablecoin migration from Ethereum continues The two $250M tranches push cumulative gross issuance on Solana past $66B, reflecting rising demand for USDC on the network. 6

Compromised contract allows 5.2M WEMIX stablecoin minting, forcing network freeze The attacker converted the unauthorized tokens into WEMIX and USDC.e and bridged funds to Ethereum and BSC. WEMIX suspended bridges and liquidity pools to contain the breach. 7