The Federal Reserve accepts $7.193 billion in reverse repurchase operations

Wall Street and payment giants are quietly taking over Solana, moving billions onto the network for tokenized funds and global payments even as the broader crypto market cools down, according to a new report by Messari.

The turnover comes as the foundation undergoes an internal transition tied to a new organizational mandate aimed at redefining its role within Ethereum.

The Federal Reserve accepted $7.193 billion from 21 counterparties in fixed rate reverse repurchase operations.

Ethereum Foundation researchers Carl Beek and Julian Ma announced their resignations, leaving after serving for seven and about four years respectively. Carl Beek's last working day is May 29th. Since the beginning of this year, several executives and researchers from the foundation have resigned, including Tomasz K. Sta ń czak, Josh Stark, Barnab é Monnot, Tim Beiko, and Alex Stokes.

The move brings onchain yield and lending to the payments-focused chain in a bid to offer full-stack onchain finance platform to companies building on it.