2 July 2025

Vitalik Buterin Warns Ethereum at Risk If Decentralization Lacks Substance

Key developments in cryptocurrency technology:

Vitalik Buterin's Warning on Decentralization: Ethereum co-founder Vitalik Buterin emphasized the need for true decentralization in the crypto industry during his keynote at the Ethereum Community Conference. He outlined tests that projects should pass to ensure user protection, including the walk-away test and insider attack test.
Botanix Mainnet Launch: The Bitcoin Layer-2 network Botanix has launched its mainnet, reducing block times from 10 minutes to 5 seconds. It is compatible with the Ethereum Virtual Machine, allowing Ethereum applications to operate on Bitcoin.
XRP Ledger EVM Sidechain Live: Ripple launched the XRP Ledger's EVM sidechain, enabling the use of Ethereum-based decentralized applications within the XRP ecosystem. This aims to enhance interoperability while maintaining connection to the XRPL.
Securitize and RedStone Oracle Model: Securitize and RedStone introduced a whitepaper for a new oracle model called Trusted Single Source Oracle (TSSO) to securely verify Net Asset Value data for tokenized private funds, addressing manipulation risks in DeFi by ensuring data integrity.

Robinhood announced new crypto offerings, including a blockchain network based on Arbitrum and tokenized stock trading, expanding its investment app for European users.
Deutsche Bank plans to launch a crypto custody service next year with support from Bitpanda, marking a shift toward in-house crypto services after existing partnerships.

The U.S. Senate passed a budget bill without changes to crypto taxation, despite efforts to waive capital-gains taxes on small transactions.
New York Attorney General Letitia James criticized the current form of the GENIUS Act stablecoin legislation, calling for more protective measures for consumers.