#938 - Ethereum Hits 25M Blocks, Bitmine Buys Another 10k ETH
Ethereum hits 25 million blocks, the EF completes a second 10k ETH OTC sale to Bitmine, Optimism expands Actions SDK, and Peer launches a Disputes Portal.
Ethereum hits 25 million blocks.
EF sells 10k ETH OTC to Bitmine.
Optimism expands Actions SDK.
Peer launches Disputes Portal.
https://open.spotify.com/episode/0FRHiJERKjvgo7uFzf3R5L
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On May 1, 2026, the Ethereum blockchain processed its 25,000,000th block since inception. Go-Ethereum contributor Lightclient celebrated the milestone on X. Block 25,000,000 contained 377 transactions and 122 internal contract transactions, was produced by Titan Builder, and burned 0.04 ETH in gas fees. The milestone comes as Ethereum approaches its 11th year of operation with 100% uptime, maintaining uninterrupted service through major upgrades. Read more.
The Ethereum Foundation disclosed a second 10,000 ETH sale via an over-the-counter (OTC) deal with Bitmine Immersion Technologies Inc., executed at an average price of $2,292.15 per ETH. The transaction comes exactly one week after the Foundation completed a 10,000 ETH OTC sale with Bitmine. Bitmine is the world's largest Ethereum treasury company, holding over 5 million ETH in its portfolio. In Q1 2026 alone, the Ethereum Foundation distributed $9.8 million in grants. Read more.
Optimism expanded its Actions SDK, evolving it from an early developer preview into a more complete framework for embedding DeFi directly into applications. The updated SDK supports lending through Aave and Morpho, and token swaps via Uniswap and Velodrome, with built-in routing and liquidity handling. A standardized action interface unifies all operations, reducing integration complexity. Read more.
Peer, a ZK-powered fiat–crypto bridge, launched its Disputes Portal, an automated system to protect liquidity providers from fiat chargeback fraud. The issue lies where takers pay in fiat, receive USDC onchain, then reverse the fiat payment. The portal allows Peer LPs to submit the disputed transaction and the payment platform's email. If a dispute is approved, the attacker's wallet and linked wallets are blocked, payment methods are revoked, and refunds are triggered. Read more.
Ethereal news weekly #21
MegaETH hits $575m Aave TVL
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Upbit GIWA Chain On OP Stack
Upbit announces its own L2 built on the OP Stack, coined GIWA Chain.
South Korea's largest crypto exchange Upbit announced plans to launch GIWA Chain, its own Ethereum Layer 2 built on the OP Stack. Upbit will leverage Optimism’s self-managed tier of the OP Enterprise service. Upbit will run its sequencer and will retain full control, while the Optimism Foundation provides backup infrastructure. Upbit aims to gain control over transaction ordering, fee capture, compliance, and uptime guarantees for its 13 million users. The GIWA Chain testnet is now live, with a mainnet launch to follow.
Disclaimer: Content is for informational and educational purposes only and does not constitute financial, investment, legal, or other professional advice. No representations or warranties are made as to accuracy, completeness, or timeliness. Use of this content is at your own risk, and you should consult a qualified professional before making decisions. No fiduciary or advisory relationship is created
Aave Fights Back For DeFi Users
Aave LLC filed an emergency motion to vacate Gerstein Harrow's restraining notice and is requesting a $300M bond if the notice stands, defending DeFi United's recovery for KelpDAO victims.
On May 4, Aave LLC fired back with an emergency motion to vacate the restraining notice in the SDNY court. Aave argues that a thief does not gain legal title to stolen property simply by taking it. The ETH belongs to Kelp DAO victims and downstream DeFi users, not to North Korea, and therefore not to Gerstein Harrow's clients.
Aave is also requesting that if the restraining notice is not vacated, Gerstein Harrow's clients be required to post a $300M bond to cover damages to the hack victims. The DAO vote to transfer funds to a recovery multisig, which previously had near-unanimous support, could remain legally blocked pending the court's decision.
Disclaimer: Content is for informational and educational purposes only and does not constitute financial, investment, legal, or other professional advice. No representations or warranties are made as to accuracy, completeness, or timeliness. Use of this content is at your own risk, and you should consult a qualified professional before making decisions. No fiduciary or advisory relationship is created