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Morning Brief | Binance launches DYOR research tool; YZi Labs unveils recruitment platform YZi Talent; Vitalik says Ethereum Foundation will 'downsize' and reduce ETH sales

Compiled by ChainCatcher

Key updates:

Vitalik: Ethereum Foundation will 'downsize' and reduce ETH sales

Tom Lee: BitMine is on the preliminary inclusion list for the Russell 1000, potentially attracting $2.15 billion in buying pressure

Binance launches DYOR research tool, supporting on-chain data queries for Alpha tokens

YZi Labs launches recruitment platform YZi Talent, aggregating job openings across its Web3, AI, and biotech investment portfolios

The Indonesian government has blocked prediction market platform Polymarket, citing illegal online gambling

Tether to partner with the Georgian government to launch official stablecoin GEL₮

According to ChainCatcher, Tether announced a partnership with the Georgian government to launch an official stablecoin, GEL₮, pegged to the Georgian lari and issued under a dedicated stablecoin regulatory framework.

GEL₮ is designed as a digital representation of the Georgian lari, aiming to reduce transaction costs, enable near real-time settlement, support programmable payments, and enhance capital efficiency in cross-border transfers and digital financial systems. Tether stated the project could support cross-border trade, fintech development, and digital payments.

Blockaid: Squid suspected of being attacked; approximately $3 million stolen from 86 Gnosis Safe wallets within about two hours

According to ChainCatcher, Blockaid monitoring reports thatthe cross-chain routing protocol Squid is undergoing ongoing attacks targeting its SquidRouterModule on Ethereum and Base networks,within approximately two hours of the attack, 86 Gnosis Safe wallets have been drained, with losses totaling around $3 million.

The attacker subsequently swapped all stolen tokens into DAI through a Uniswap V3 liquidity pool under their control and consolidated them into a single address. The consolidated wallet currently holds approximately $3.07 million in DAI.

Binance Wallet launches Event Rush, enabling tokenized trading of real-world events

According to ChainCatcher,According to an official announcement, Binance Wallet has introduced a new feature called EventRush, allowing users to trade outcome tokens tied to real-world events such as sports matches, cryptocurrency price targets, or news outcomes.

The feature is powered by the 42.space protocol on BNB Chain. Users can purchase event tokens using USDT on BSC and may sell or hold them until settlement at any time before the event concludes. Winners share the entire prize pool with uncapped returns. Each transaction incurs a service fee, and an additional redemption tax applies upon selling.

The feature is available to all verified Binance Wallet users, though it may be restricted in certain jurisdictions.

Indonesian government bans prediction market platform Polymarket over illegal online gambling concerns

According to a ChainCatcher report citing Reuters, Indonesia’s Ministry of Communication and Digital Affairs recently blocked the prediction market platform Polymarket, classifying it as an online gambling platform for offering 'bets and speculation on unresolved events,' which violates local laws.

Previously, Polymarket launched a betting market on when President Prabowo Subianto would 'step down from office,' despite his term being scheduled to run until 2029. The contract went live the day after Prabowo announced plans to centralize control over commodity exports such as coal and palm oil, sparking discussions on local social media. Indonesian authorities also stated they are investigating all social media accounts associated with Polymarket.

YZi Labs launches recruitment platform YZi Talent, aggregating job openings from its portfolio companies in Web3, AI, and biotech

According to ChainCatcher, citing an official statement,YZi Labs announced the launch of its recruitment platform, YZi Talent, aggregating open roles across Web3, AI, and biotech from its investment portfolio.

Initial job listings include Senior Backend Engineer and Staff Frontend Engineer at predict.fun, as well as Founding Head of Business at AgriDynamics Robotics, with more companies to join soon.

Binance launches DYOR research tool supporting on-chain data queries for Alpha tokens

According to an official announcement reported by ChainCatcher, Binance has launched the DYOR Research Hub, integrating on-chain data to provide transparent information for all users.

DYOR now supports Binance Alpha tokens, allowing users to view market information, trading data, token unlocks, and fundamental project metrics on the spot trading page within the Binance app. Support will gradually expand to additional tokens in the future.

Indonesian authorities have blocked prediction market platform Polymarket, citing illegal online gambling

According to a Reuters report cited by ChainCatcher, Indonesia’s Ministry of Communication and Digital Affairs recently blocked the prediction market platform Polymarket, classifying it as an online gambling platform because it offers 'bets and speculation on events without definitive outcomes,' which violates local laws.

Previously, Polymarket launched a betting market on when President Prabowo Subianto would 'step down from office,' despite his term being scheduled until 2029. The contract went live the day after Prabowo announced plans to centralize control over exports of key commodities like coal and palm oil, sparking discussions on local social media. Indonesian authorities also stated they are investigating all social media accounts linked to Polymarket.

Vitalik: Ethereum Foundation will 'downsize' and reduce ETH sales

According to ChainCatcher, citing The Block, Ethereum co-founder Vitalik Buterin published a lengthy post on X addressing recent turmoil at the Ethereum Foundation and a wave of researcher departures. Buterin stated that the Foundation is choosing 'long-term survival over being large and all-encompassing,' reducing ETH sales and focusing on Ethereum’s CROPS attributes—censorship resistance, openness, privacy, and security. He emphasized that the post reflects only his personal views and that his influence within the organization will continue to diminish, in line with his own wishes.

Buterin argued that the Ethereum Foundation (EF) should be understood as 'a node with a clear purpose, standing alongside other nodes,' rather than as the center of Ethereum. He noted that the Foundation holds approximately 0.16% of all ETH, whereas other blockchain foundations typically hold 10% to 50% of their native token supply. The Foundation will focus on critical initiatives that only it can drive forward, while respected contributors and projects will remain outside the Foundation—a structure that helps attract external capital.

On the technical front, Buterin outlined three priorities: achieving a 'provably bug-free Ethereum' through AI-assisted formal verification, usable chain consensus, and minimizing intermediaries. He explicitly opposed Ethereum competing solely on speed, calling it 'a path to mediocrity.' Buterin concluded by saying that the EF will be smaller than in previous years, its stance will be clearer—and at times potentially hard to understand—but it will also be more enduring, and the Foundation’s new long-term operational model should stabilize over the coming months.

Nearly 90% of Vitalik's personal net worth is in ETH, along with approximately $40 million in on-chain fiat currency

ChainCatcher reports that Vitalik revealed this morning in a post on X that nearly 90% of his net worth is in ETH, and most of the remainder consists of approximately $40 million in on-chain fiat currency, every dollar of which has already been allocated to certain open-source biotech, software, or hardware projects.

Tom Lee: BitMine appears on the preliminary inclusion list for the Russell 1000, potentially drawing $2.15 billion in buying pressure

ChainCatcher reports that BitMine Chairman Tom Lee stated on X that FTSE Russell has released its preliminary inclusion and exclusion lists, with BitMine (BMNR) included in the preliminary list for the large-cap Russell 1000 index, as its market capitalization exceeds the $5.7 billion minimum threshold required for inclusion.

Tom Lee noted that many actively managed funds only buy stocks included in the Russell 1000, and typically 20% to 25% of a single stock’s market cap is held by passive index funds or ETFs. Based on BitMine’s current market cap of $10.75 billion, successful inclusion would bring in at least $2.15 billion in buying demand.

Coinbase CEO: Eight key areas of the financial system urgently need upgrading

According to ChainCatcher,Coinbase CEO Brian Armstrong posted on X, outlining eight key areas where the current financial system still requires upgrades: 1) Tokenization of real-world assets—bringing real estate, stocks, bonds, and other assets on-chain to enable instant settlement and fractional ownership; 2) 24/7 global trading—to pool global liquidity and enhance capital efficiency; 3) Next-generation payments—using stablecoins to facilitate near-instant, low-cost global transfers, including AI agent-initiated payments; 4) AI-driven risk management, credit assessment, compliance, and advisory services—making high-quality financial advice accessible to everyone; 5) Innovation-friendly regulation—shifting from one-size-fits-all rules to risk-based frameworks; 6) Expanded access—enabling every smartphone user to participate through open protocols and self-custody wallets; 7) Capital formation—lowering barriers for anyone with a good idea to raise funding; and 8) Sound money—providing an inflation-resistant safe haven when fiat monetary discipline breaks down.

Armstrong stated that achieving these goals will require significant technological innovation and policy support.

Aave founder Stani: DeFi lending protocol valuations should not primarily rely on TVL as a metric

ChainCatcher reports that Aave founder and CEO Stani Kulechov posted on X, stating that valuations of DeFi lending protocols should not primarily reference Total Value Locked (TVL), as it measures net collateral rather than lending activity. Comparing year-end 2025 figures: Aave’s total supply stands at approximately $52 billion, with active loans around $22 billion, generating over $700 million in borrower interest revenue, of which the DAO retains about $150 million. In contrast, SoFi holds roughly $37.5 billion in deposits, maintains a loan book of approximately $38 billion, earns about $1.8 billion in loan revenue, and reports net income of around $481 million.

Stani noted that in traditional finance, deposits represent liabilities or cost of capital, while loans are interest-generating assets. Lenders are typically evaluated based on their loan books, interest income, net interest margins, and asset growth. However, the DeFi market predominantly focuses on TVL and DAO fee retention. He argues that under traditional financial accounting frameworks, Aave more closely resembles a lending business generating over $700 million—rather than a protocol with only $150 million in revenue—since TVL is not the basis of income for lending protocols; instead, the loan book and interest flows are central.

According to data from GMGN, a meme token tracking and analytics platform, as of 09:00 on May 26,

The top five trending Ethereum tokens in the past 24 hours are: HEX, SHIB, LINK, PEPE, UNI

The top five trending tokens on Solana over the past 24 hours were: TROLL, neet, WORLDCUP, HANTA, and Buttcoin

The top five trending tokens on Base over the past 24 hours were: toby, ELSA, cbETH, CYPR, and ALB

The wealthiest Fed chair in 112 years has arrived: Kevin Warsh is rewriting the rules

On the 22nd local time, Kevin Warsh assumed office as Chair of the Board of Governors of the Federal Reserve System.

Warsh, a former Wall Street investment banker who played a direct role in managing the 2008 financial crisis, lacks the traditional academic background of central bankers. Yet he has proposed an unconventional policy mix of 'balance sheet reduction plus rate cuts,' aiming to reshape the operational framework of Federal Reserve monetary policy.

His push to reform the Fed’s decision-making mechanisms and tighten control over policy communications offers a novel way out for a central bank trapped in the dilemma of 'fiscal expansion coupled with stalled balance sheet normalization.' At the same time, it introduces significant uncertainty for global capital markets, the credibility of the U.S. dollar, and the structure of global asset allocation.

This seemingly routine personnel change is far from an ordinary transfer of power; it represents a pivotal turning point that will reshape the Federal Reserve’s decision-making logic, disrupt core asset markets—including U.S. Treasuries, the dollar, and commodities—and further redefine the global monetary and financial order.

Google Engineering Director: 21 Design Patterns for Building AI Agents

Antonio Gulli is Google's Director of Engineering. He has written a 453-page book that breaks down AI agent development into 21 design patterns.

But this isn’t a book review. My motivation for reading it was very specific: I’ve written about Harness Engineering, shared my hard-won lessons from building Clawdbot, and authored the piece 'AI Agents Aren’t Magic'—which outlined seven key turning points from burning tokens to achieving real usability. After each of those writings, there remained one question I hadn’t fully resolved:Is there a reusable foundational logic underlying all these things?

This book gave me the answer—and it went deeper than I expected.

Vitalik posted an article emphasizing that Ethereum must be 'amazing,' but the Foundation is not central

Following a series of negative events—including consecutive departures of core team members and criticism from former key supporters—Ethereum founder Vitalik was compelled today to publish a lengthy response to the community in an effort to calm public sentiment and restore confidence.

In fact, all the negative criticisms fundamentally stem from ETH's price weakness. Compared to Hyperliquid’s strong performance, Ethereum has fallen behind across the board—in ecosystem vibrancy, community conviction, and mainnet performance—causing its price to drop by over 64% at its lowest point over the past year. In contrast, HYPE has repeatedly hit new highs, peaking above $64.

As a result, the Ethereum community has largely directed its criticism toward Ethereum’s core contributor: the Ethereum Foundation.Many observers argue that the Ethereum Foundation’s strategic direction has been unclear, its leadership has experienced repeated upheavals, and rather than accumulating ETH, it has continued selling tokens—rendering it incapable of representing the interests of ETH holders.

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