Ethereum Devs Not So Sure About New Updates...

Vitalik Buterin is full of new ideas for Ethereum, but the project's devs have their reservations.

Here's what we've got for you today:

  • Ethereum Devs Raise Concerns About Buterin’s Proposed Updates

  • SEC Ramps Up Legal Challenge Against Ripple for Financial Disclosure

  • Bitcoin ETFs Hit the Ground Running With $4.5+B Volume on Day 1

  • Do Kwon Seeks US Court Approval to Delay Terra Trial Until Mid-March

The Ethereum Foundation is planning a slew of updates, but the community and Ethereum developers have started to raise some concerns about the potential consequences of these changes.

  • The Ethereum Foundation is working on updates to enhance the account abstraction standard (ERC-4337), aiming to lower gas consumption, particularly on layer 2 networks.

  • Ethereum co-founder Vitalik Buterin has also suggested a 33% increase in the network's gas limit to boost throughput.

  • A number of concerns have been raised about the potential impact of these changes, including an increase in blockchain size and possibly slower performance.

The SEC has intensified its legal conflict with Ripple by submitting a motion that demands the company disclose its financial records for the years 2022 and 2023.

  • On Jan. 11 of 2024, the SEC filed a motion in federal court to push Ripple to provide detailed financial statements for 2022 and 2023, including documents related to "Institutional Sales" since their initial complaint.

  • The legal battle between the SEC and Ripple started in December of 2020, with allegations against Ripple's CEO Brad Garlinghouse and executive chair Chris Larsen for raising funds through unregistered securities.

  • The trial, which has been a huge talking point in the cryptocurrency community, is scheduled to begin in April 2024.

Bitcoin ETFs were a big hit on their first day in the market, and Vanguard's clientele are growing increasingly dissatisfied with the fact that they are missing out on the investment opportunity.

  • The introduction of Bitcoin ETFs by major financial players like BlackRock, Grayscale, and Fidelity saw a remarkable first-day trading volume of more than $4.5 billion.

  • Vanguard's choice to not offer these Bitcoin ETFs on its platform led to significant customer dissatisfaction, in stark contrast to firms like JPMorgan that have welcomed the ETFs.

  • Experts believe the launch of Bitcoin ETFs will have a large impact on the cryptocurrency sector, potentially leading to an increase in Bitcoin-backed loans, the development of various Bitcoin ETF types, and advancements in Bitcoin zero-knowledge proof applications.

Kwon's attorneys have formally requested a postponement of the trial in a US court, pointing to complications surrounding his extradition proceedings from Montenegro.

  • Legal filings made on Jan. 11 indicate that Kwon's extradition process is facing delays, with his defense team predicting his arrival in the US might be pushed to February or March.

  • Due to these delays, Kwon's legal team has requested the postponement of the trial, which was originally scheduled to start at the end of January.

  • Should the court decide against delaying the trial, Kwon's attorneys have proposed that the jury should be instructed not to interpret his absence and inability to testify as negatively impacting his defense.



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