Quick Take
Euler V2 goes live on Base.
Liquity V2 will launch in January.
Coinbase secures a writ of mandamus.
Ethereum X account is active again.
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Euler V2 Goes Live On Base
Euler V2, the latest iteration of the lending protocol, is now live on Base, featuring ERC-4626-compatible governed and ungoverned vaults. Governed Vaults offer dynamic functionality, allowing DAOs, risk teams, or individuals to manage key parameters such as loan-to-value ratios, supply caps, and interest rate models in real-time. In contrast, Ungoverned Vaults are immutable, providing a fixed, stable configuration once deployed. Euler V2 supports leveraged positions, carry trade strategies and single-click execution workflows. The release follows the earlier pause of Euler V1 after a $200 million flash loan attack in 2022, from which the majority of funds were successfully recovered. Since its launch in September 2024, Euler V2 has achieved over $130 million TVL on Ethereum. Euler V2 on Base supports 11 initial assets and has already surpassed ~$5 million in TVL.
Liquity V2 Launching In January
Decentralized borrowing protocol Liquity announced plans to launch its V2 release by the end of January 2025. Liquity V2 introduces user-set interest rates and multiple collateral support, including rETH and wstETH. It also introduces BOLD, its new yield-bearing stablecoin that will coexist alongside the existing LUSD stablecoin. Users will be able to stake BOLD for additional rewards. Liquity V2 also features Protocol Incentivized Liquidity (PIL), which allows LQTY stakers to direct subsidies from protocol interest revenue while still earning fees and rewards. Like Liquity V1, Liquity V2 will remain governance-minimized and immutable.
Coinbase Wins Mandamus Against SEC
In a significant legal victory, the Third Circuit Court of Appeals granted Coinbase its petition for a writ of mandamus against the SEC, compelling the SEC to provide a more reasoned explanation for its denial of Coinbase's rulemaking petition. The court criticized the SEC’s handling of Coinbase’s rulemaking petition. Coinbase’s original petition, submitted in July 2022, sought much-needed regulatory clarity regarding the application of existing securities laws to the digital asset sector. Frustrated by the SEC’s prolonged inaction, Coinbase later sued the agency for failing to fulfill its legal duty to respond to rulemaking petitions within a reasonable timeframe. The court also expressed serious constitutional concerns about the SEC’s reliance on retroactive enforcement without first establishing clear guidance.
Ethereum X Account Is Back
The official Ethereum X account made its first post in two years. The post comes as the Ethereum Foundation created its own dedicated X account, announcing that the general Ethereum account will now serve as an active platform for sharing updates from across the Ethereum ecosystem. Posts from the general Ethereum account will also be cross-posted on Lens, Farcaster, and Bluesky. Meanwhile, the Ethereum Foundation's separate account will focus exclusively on foundation-related updates, including news from EF teams, grants, and treasury activities.
Other News
Hsiao-Wei Wang joins EF leadership
Veil supports sharable links
Eigen Protocol Cohort is live
Superposition mainnet alpha launch
Megaeth gets a new domain
Obol announces a snapshot
Derive announces launch program
Trump executive orders on crypto
Sparklend market upgrades
Preconfirmations explainer
$420m liquidated from crypto market
