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Vitalik Buterin declares he is not staking all of his ETH, merely a ‘small portion’

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Ethereum co-founder Vitalik Buterin stated that he does not stake all of his Ether (ETH) due to multisignature wallets being “complicated in a bunch of ways.”

On the June 29 episode of the Bankless podcast, Buterin revealed the “biggest reason” why he is only staking a small fraction of his ETH. He explained:

“Because if you stake your ETH, the keys that access it have to be public on a subsystem that is online. For safety, it has to be a Multisig. Multisig for staking is still fairly difficult to set up; it gets complicated in a bunch of ways.”

Buterin speaking on the Bankless podcast on June 29. Source: Bankless

Charles Hoskinson, the co-founder of Ethereum and founder of Cardano, took to Twitter on June 30, stating he is “at a loss for words” after hearing Buterin only stakes a small portion of his Ether.

Hoskinson added that “all” of his Cardano is staked.

Buterin also discussed the EigenLayer protocol, which allows Ethereum validators and stakers to “re-stake” their assets onto other emerging networks.

While it is only in its testnet phase and not expected to launch until the third quarter of 2023, Buterin said the main challenge is that it creates “centralization risks,” stating:

“Trustworthy stakers would be valued more by the system than untrustworthy stakers. Trustworthy stakers are much less likely to actually get slashed.”

Sreeram Kaanan, the founder of EigenLayer, explained there are “complex risks” with restaking, and it is important to take a “constrained approach in building restaking.“

“Constraints being what is really good for the ecosystem, and having constraints on building what new innovation can be unleashed based on this concept,” he stated.

Panelists on the June 29 Bankless podcast episode. Source: Bankless

Related: Vitalik Buterin and Polygon co-founder to help send $100M toward COVID-19 research

This comes after Buterin stated in a June 9 blog that the Ethereum blockchain outright “fails” without sufficient scaling infrastructure to make transactions cheap.

He also noted another point of failure related to smart contract wallets. 

He explained that a move to smart contract wallets has resulted in certain challenges arising due to the complexities associated with user experience when users take control of multiple addresses at once. 

Magazine: SEC calls ETF filings inadequate, Binance loses euro partner and other news: Hodler’s Digest, June 25–July 1

Cryptocurrency

Coinbase Tanks 11% Pre-Market After $1.5B Q2 Revenue Miss

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Coinbase shares fell sharply after the company reported second-quarter earnings that missed expectations. Total revenue for the quarter came in at $1.5 billion, representing a 26% decline from the previous quarter.

The shortfall was largely driven by weaker-than-expected transaction revenue, which fell 39% quarter-over-quarter to $764 million.

Missing Expectations

In the official release, Coinbase revealed that its subscription and services revenue also declined 6% to $656 million. Despite efforts to reduce variable costs, operating expenses climbed 15% to $1.5 billion. Coinbase attributed this largely to the $307 million hit related to the data breach disclosed in May.

The crypto exchange recorded a net income of $1.4 billion, but this figure included $1.5 billion in pre-tax unrealized gains from strategic investments, including in Circle, as well as a $362 million pre-tax gain from its crypto investment portfolio. On an adjusted basis, net income stood at just $33 million, with adjusted EBITDA reaching $512 million.

Coinbase’s trading activity also underperformed the broader crypto spot market, as global and US crypto spot volumes declined 31% and 32% respectively. Meanwhile, its total trading volume fell 40% to $237 billion, and the consumer segment witnessed a 45% drop to $43 billion.

Consumer transaction revenue plunged 41% to $650 million, as volume shifted toward Simple trades amid low volatility. Institutional transaction revenue also saw a similar pattern, down 38% in both volume and revenue.

While Base Chain activity grew, other transaction revenue dropped 21% as average revenue per transaction declined.

As of the close on the previous trading day, Coinbase (COIN) shares were priced at $377.76, up slightly by $0.28. However, pre-market trading shows a sharp decline, with the stock down $42.30 (-11.20%) to $335.46. This steep drop suggests a strong negative reaction from investors, likely in response to recent earnings results.

Despite grappling with declining revenues and rising costs, Coinbase is doubling down on product innovation.

“Everything App”

Earlier this month, Coinbase rebranded its Wallet as the Base app, launching a crypto-focused “everything app” that merges trading, social media, USDC payments, mini-apps, and tokenized posts.

Announced at its “A New Day One” conference, the app runs on Coinbase’s Ethereum Layer 2 network and integrates Farcaster for social feeds, Zora for post tokenization, and encrypted XMTP chat. Users can earn from tips, interact with AI agents, and make one-tap payments.

The platform also introduced Base Pay for Shopify merchants and plans 1% USDC cashback in the US. The app is in beta, while a full public release and developer tools are expected soon.

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Dogecoin Slides 8% but Long-Term Channel Holds, Can DOGE Rebound?

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TL;DR

  • Dogecoin dropped to $0.20, moving in a $0.23 to $0.20 range during heavy selling.
  • Analysts see support in the long-term channel and a wedge pattern aiming for $0.265.
  • Large holders bought 310 million coins, while Bit Origin added 40 million to reserves.

Dogecoin Records Sharp Daily Decline

Dogecoin (DOGE) fell 8% in the past 24 hours, dropping from $0.22 to $0.21. This was one of the steepest daily moves for the token in July. The price action moved within a $0.23 to $0.20 range, facing resistance at the top and heavy selling near the session close.

However, trading volumes spiked, with a midnight surge to 1.25 billion DOGE, which points to large liquidations and cascading sell orders from leveraged positions. 

Dogecoin trades at $0.20 as of press time, down 11% over the past week, giving it a market cap of $31 billion.

Long-Term Channel Remains Intact

Trader Tardigrade shared a 1-month chart showing DOGE inside a long-term ascending channel that has held since 2014. DOGE has often bounced from the lower boundary of this channel, shown in pink on the chart.

Meanwhile, the current price is near the lower-middle part of the channel, an area that has led to multi-month rallies when the trend held. Dogecoin’s long-term structure stays intact while it trades within this ascending channel, even after the recent decline.

In addition, Trader Tardigrade also noted that Dogecoin’s monthly candle closed as the third consecutive bullish engulfing candle, which he described as a setup for a potential “move to Valhalla.”

Short-Term Wedge and Institutional Activity

Ali Martinez noted that DOGE may be forming a falling wedge on the 1-hour chart, with a projected target of $0.265. A move above $0.229–$0.230 would confirm bullish momentum, while $0.215–$0.210 remains key support if the wedge fails.

Institutional wallets acquired 310 million DOGE during the correction. Bit Origin added 40 million DOGE to its treasury under a $500 million diversification program. Broader crypto markets remain pressured by macroeconomic uncertainty, with inflation and equity risk shaping short-term demand.

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Cryptocurrency

Pepe Dollar ($PEPD) Presale Picks Up Pace as Ethereum (ETH) Hovers Over $3,600

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[PRESS RELEASE – Covina, United States, August 1st, 2025]

Within the Ethereum ecosystem, Pepe Dollar ($PEPD) has entered its presale phase. Described as a meme token with integrated utility and cultural references, $PEPD introduces a tokenomics structure intended for long-term application. Certain Ethereum wallet holders have initiated ETH transfers to the presale, indicating early transactional activity.

Overview of $PEPD’s Positioning

Pepe Dollar ($PEPD) enters the market as a parody token referencing central banking themes, aiming to engage users through cultural commentary and decentralized finance (DeFi) mechanisms. Unlike traditional meme tokens, which often adopt simplified or repetitive token structures, $PEPD integrates design elements that combine cultural motifs associated with Pepecoin and components of DeFi architecture.

Comparison to Prior Meme Tokens

Pepe Dollar ($PEPD) enters the Ethereum ecosystem following the emergence of other meme tokens such as Pepecoin ($PEPE), $BONK, $LILPEPE, and $HYPER. The $PEPD model incorporates a tokenomics framework that includes a burn mechanism framed as a commentary on centralization. Its listing on CoinMarketCap has contributed to broader visibility. On-chain data indicates that several large Ethereum wallets have begun transacting with the token during its presale phase.

Pepe Dollar Presale – ETH’s Capital Rotation

Pepe Dollar’s presale architecture and project identity offer a compelling setup:

Presale Fundamentals:

  • Current Price: $0.004688
  • Tokens Sold: 166,938,905
  • Next Presale Price (Stage 2): $0.006495
  • Launch Price: $0.03695

Tokenomics and Supply

Pepe Dollar ($PEPD) will have a fixed supply of 3.6951 billion tokens. According to the project, 29% of the total supply is scheduled to be permanently removed at launch through a mechanism termed the “Federal Burn,” which is framed as a symbolic reference to traditional inflationary monetary systems.

Additional details disclosed by the development team include:

  • No developer tax mechanisms
  • No backdoor unlock functions
  • A publicly documented tokenomics model

Ethereum-Native Infrastructure

Pepe Dollar is designed to launch natively on Ethereum and integrate with existing Ethereum-based DeFi tools. The protocol includes functionality to support a meme asset minting platform, enabling users to create, deploy, and govern new assets using $PEPD. The project describes itself as operating at the intersection of cultural commentary and decentralized finance.

Project Links and Official Channels

About Pepe Dollar ($PEPD)

Pepe Dollar ($PEPD) is a decentralized Layer-2 payment infrastructure designed for the meme economy. Positioned as a satirical digital asset, $PEPD offers an alternative approach to traditional financial systems and aims to facilitate value creation within decentralized ecosystems.

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