• Fusaka audit contest announced.

• EIP-7907 is removed from Fusaka.

• GENIUS Act is signed into law.

• Bit Digital buys 19,683 more ETH.

The Ethereum Foundation, in partnership with blockchain security firm Sherlock, announced an audit competition for the upcoming Fusaka hard fork, Ethereum’s next upgrade expected to go live by year’s end. Fusaka currently includes around 13 EIPs, with the headliner proposal being Peer Data Availability Sampling. PeerDAS is a scalability enhancement that allows nodes to verify the availability of blob data without downloading the full data set, benefiting Layer 2 solutions significantly. The audit contest aims to ensure that the EIPs are implemented securely and function as intended.

During All Core Devs Execution Layer Call #216, Ethereum developers agreed to remove EIP-7907, a proposal to double the smart contract code size limit and add gas metering, from the upcoming Fusaka hard fork. The decision was made to help accelerate development for Fusaka. Developers are currently on track to release Devnet 3 by July 23rd. While EIP-7907 aimed to improve developer experience without compromising security, its complexity and edge cases led to its denial for inclusion. The proposal may be reconsidered in the Glamsterdam upgrade.

The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, a landmark bill creating the first comprehensive federal framework for stablecoins, was signed into law on July 18, 2025. The legislation passed the Senate on June 17 by a vote of 68–30 and was approved by the House of Representatives on July 17 with a 308–122 vote, signaling strong bipartisan support.  The GENIUS Act sets clear requirements for stablecoin issuers, including the maintenance of one-to-one reserves backed by U.S. dollars, short-term Treasury securities, or other liquid assets. It also mandates routine audits and subjects issuers to the anti-money laundering standards of the Bank Secrecy Act. Notably, the Act distinguishes payment stablecoins issued under the framework from securities, exempting them from SEC oversight.

Bit Digital, Inc. has acquired an additional 19,683 ETH, increasing its total Ethereum holdings to approximately 120,306 ETH. The purchase was financed through proceeds from a recent $67.3 million direct offering to institutional investors. The move follows Bit Digital’s recent shift in its corporate treasury strategy, transitioning its focus from Bitcoin to Ethereum. As part of its strategy, Bit Digital stakes its ETH holdings, generating yield while contributing to the security of the Ethereum network. Bit Digital now ranks 6th globally among corporate ETH treasuries, just behind Coinbase.

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