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Pi Network’s token has surged 86% in value, reflecting strong market interest despite ongoing controversies.
Quick Take This is an excerpt from the 22nd edition of The Funding sent to our subscribers on Feb. 23. The Funding is a fortnightly newsletter written by Yogita Khatri, The Block’s longest-serving editorial member. To subscribe to the free newsletter, click here.
Quick Take A recent proposal by the Arbitrum DAO’s recently-appointed Growth Management Committee has sparked backlash after recommending that 7,500 ETH be deployed to Lido, Aave, and Fluid, three decentralized finance protocols not native to Arbitrum. The proposal argues the selected protocols “represent safe applications that achieve conservative yield and strongly support ecosystem growth,” while critics argue the move signals that Arbitrum-native protocols are inferior. Should the proposal fail, the co
- 05:12Russia launches national cryptocurrency mining equipment registration system to combat illegal mining and boost tax revenueAccording to a report by Cryptonews cited by Jinse Finance, Russia's Ministry of Energy has begun developing a nationwide registration system for cryptocurrency mining equipment, aiming to combat illegal mining activities and increase tax revenue. This registration system will serve as a central database for all cryptocurrency mining equipment across the country and is being jointly developed by the Ministry of Energy, the Federal Tax Service, and the Ministry of Digital Development. Petr Konyushenko, Deputy Minister of Energy of Russia, stated that the system will help authorities "accurately identify" who is using electricity for cryptocurrency mining, ensure miners comply with relevant laws, and boost tax collection.
- 05:07Data: Metaplanet Increases Holdings by 2,205 Bitcoins at an Average Price of $108,237, Valued at Approximately $238.7 MillionAccording to ChainCatcher, data from the SoSoValue Bitcoin Treasuries dashboard shows that on July 6, 2025 (Eastern Time), Metaplanet announced it had increased its Bitcoin holdings by 2,205 BTC at an average price of $108,237, with a total investment of approximately $238.7 million. Compared to the previous period (announced on June 29, 2025), when 1,005 BTC were added at an average price of $107,601, this period’s increase in holdings rose by about 119.4% quarter-on-quarter, and the total investment increased by approximately 120.81%. As of July 6, 2025, Metaplanet holds a total of 15,555 BTC, with an average purchase price of around $99,307 per Bitcoin, valued at $1.697 billion.
- 04:54USDC Treasury burns 60 million USDC on the Ethereum blockchainAccording to a report by Jinse Finance, Whale Alert monitoring shows that around 12:45 PM (GMT+8), the USDC Treasury burned 60 million USDC on the Ethereum blockchain.