At the opening of the US stock market, the Nasdaq fell more than 627 points

A wallet associated with a16z withdrew 12780 ETH worth $21.22 million from the Binance exchange. （Onchain Lens）

Bitcoin's slump to its lowest level since late 2024 reflects a hawkish Federal Reserve, exchange-traded fund outflows and a shift of capital into AI, the bank said.

BlackRock stated on the X platform that Bitcoin can be used as a supplementary diversification tool in investment portfolios, and recommends a moderate allocation of about 1-2%.

Justin Drake, a researcher at the Ethereum Foundation, will provide consulting for the $100 million Ethereum Public Goods Fund and join the Strawmap architecture team with Vitalik and five others. He will also release an EIP to reduce Ethereum block rewards, which plans to lower block rewards to 0.25 ETH and stop issuing block rewards when Ethereum staking exceeds 50% of the total amount.

Vitalik Buterin revealed that the Ethereum Foundation (EF) will cut its budget by about 40% this year and transition from a model of spending about 15% of the remaining funds annually to spending about 5% annually after 2030, transitioning to a long-term oriented donation organization.