Morning Report | Binance launches DYOR research tool; YZi Labs launches recruitment platform YZi Talent; Vitalik states that the Ethereum Foundation will "downsize" and reduce the amount of ETH sold

整理：ChainCatcher

Important News:

• Vitalik: The Ethereum Foundation will "downsize" and reduce the sale of ETH
• Tom Lee: BitMine is on the preliminary inclusion list for the Russell 1000, potentially welcoming a $2.15 billion buy order
• Binance launches DYOR research tool, supporting on-chain data queries for Alpha tokens
• YZi Labs launches recruitment platform YZi Talent, integrating job positions from its Web3, AI, and biotechnology investment portfolio
• Indonesian government bans prediction market platform Polymarket on grounds of illegal online gambling
• Tether will collaborate with the Georgian government to launch an official stablecoin GEL₮

What important events happened in the past 24 hours?

Tether will collaborate with the Georgian government to launch an official stablecoin GEL₮

According to ChainCatcher, Tether announced it will collaborate with the Georgian government to launch an official stablecoin GEL₮, which will be pegged to the Georgian Lari and issued under a specially designed regulatory framework for stablecoins.

GEL₮ aims to serve as a digital representation of the Georgian Lari, reducing transaction costs, enabling near real-time settlements, supporting programmable payments, and enhancing the efficiency of fund flows in cross-border transfers and the digital financial system. Tether stated that the project is expected to support cross-border trade, fintech development, and digital payments.

Blockaid: Squid suspected of being attacked, approximately $3 million stolen from 86 Gnosis Safe wallets in about 2 hours

According to ChainCatcher, Blockaid reported that the cross-chain routing protocol Squid is currently under sustained attack on its SquidRouterModule on the Ethereum and Base networks. Within about two hours of the attack, 86 Gnosis Safe wallets were emptied, resulting in losses of approximately $3 million.

The attacker subsequently exchanged all stolen tokens for DAI through a Uniswap V3 liquidity pool they control and consolidated them into a single address, which currently holds about $3.07 million in DAI.

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

According to ChainCatcher, Binance Wallet has launched a new feature called EventRush, allowing users to trade tokens representing the outcomes of real-world events such as sports events, cryptocurrency price targets, or news.

This feature is supported by the 42.space protocol on the BNB Chain, allowing users to purchase event tokens using USDT on BSC and sell or hold them until settlement before the event ends. Winners can share the entire prize pool with no upper limit on earnings. Each transaction incurs a service fee, and a redemption tax is also required upon selling.

This feature is open to all verified Binance Wallet users, although it may not be available in some restricted regions.

Indonesian government bans prediction market platform Polymarket on grounds of illegal online gambling

According to ChainCatcher, Reuters reported that Indonesia's Ministry of Communication and Information has recently banned the prediction market platform Polymarket, deeming it an online gambling platform for offering "bets and speculation on unresolved events," violating local laws.

Previously, Polymarket had launched a betting market on when President Prabowo Subianto would "step down," with his term originally set to end in 2029. This contract went live the day after Prabowo announced plans to centralize control over the export of commodities such as coal and palm oil, sparking discussions on local social media. Indonesian authorities also stated they are investigating all social media accounts related to Polymarket.

YZi Labs launches recruitment platform YZi Talent, integrating job positions from its Web3, AI, and biotechnology investment portfolio

According to ChainCatcher, YZi Labs announced the launch of the recruitment platform YZi Talent, integrating open positions in Web3, AI, and biotechnology from its portfolio.

The first batch of positions includes a backend lead engineer for predict.fun, a frontend staff engineer, and a founding business leader for AgriDynamics Robotics, with more companies expected to join.

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

According to ChainCatcher, Binance announced the launch of the DYOR research center, 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 project fundamentals on the spot trading page of the Binance App. It will gradually expand to more tokens in the future.

Indonesian government bans prediction market platform Polymarket on grounds of illegal online gambling

According to ChainCatcher, Reuters reported that Indonesia's Ministry of Communication and Information has recently banned the prediction market platform Polymarket, deeming it an online gambling platform for offering "bets and speculation on unresolved events," violating local laws.

Previously, Polymarket had launched a betting market on when President Prabowo Subianto would "step down," with his term originally set to end in 2029. This contract went live the day after Prabowo announced plans to centralize control over the export of commodities such as coal and palm oil, sparking discussions on local social media. Indonesian authorities also stated they are investigating all social media accounts related to Polymarket.
Vitalik: The Ethereum Foundation will "downsize" and reduce the sale of ETH

According to ChainCatcher, The Block reported that Ethereum co-founder Vitalik Buterin published a lengthy article on the X platform, responding to the recent turmoil and wave of resignations at the Ethereum Foundation. Buterin stated that the foundation is choosing "long-term survival over being large," reducing ETH sales and focusing on Ethereum's anti-censorship, open-source, privacy, and security attributes known as CROPS. He emphasized that the post represents only his personal views, and his power within the organization will continue to diminish, which aligns with his wishes.

Buterin believes that the EF should be understood as "a node with a clear purpose, alongside other nodes," rather than as the center of Ethereum. He pointed out that the foundation holds about 0.16% of ETH, while other blockchain foundations typically hold 10% to 50% of their token supply. The foundation will focus on key activities that only it can drive, with some respected contributors and projects remaining outside the foundation, which will help attract external capital.

In terms of technical direction, Buterin proposed three priorities: achieving "provably secure Ethereum" through AI-assisted formal verification, usable chain consensus, and minimizing intermediaries. He explicitly opposes Ethereum competing solely on speed, calling that "a path to mediocrity." Buterin concluded that the EF will be smaller than in previous years, its stance will be clearer, and in some cases, its position may be difficult to understand, but it will also be more enduring, with the foundation's new long-term operational model expected to stabilize in the coming months.

Vitalik's personal net worth is nearly 90% ETH, with about $40 million in on-chain fiat
According to ChainCatcher, Vitalik revealed in a post on X this morning that nearly 90% of his personal net worth is in ETH, with the rest being about $40 million in on-chain fiat, each dollar of which has already been allocated to certain open-source biotechnology, software, or hardware projects.
Tom Lee: BitMine is on the preliminary inclusion list for the Russell 1000, potentially welcoming a $2.15 billion buy order
According to ChainCatcher, BitMine Chairman Tom Lee tweeted that FTSE Russell has released its preliminary inclusion and exclusion list, with BitMine (BMNR) on the preliminary inclusion list for large-cap Russell 1000, with a market capitalization exceeding the $5.7 billion minimum threshold required for large-cap inclusion.

Tom Lee stated that many actively managed funds only buy Russell 1000 constituent stocks, and typically 20% to 25% of a single stock's market capitalization is held by passive index funds or ETFs. Based on BitMine's current market capitalization of $10.75 billion, if successfully included, BitMine could see at least $2.15 billion in buy orders.

Coinbase CEO: Eight areas of the financial system still need upgrading

According to ChainCatcher, Coinbase CEO Brian Armstrong posted on X, listing eight areas of the current financial system that still need updating: 1. Tokenization of real-world assets, enabling instant settlement and fractional ownership of assets like real estate, stocks, and bonds; 2. 24/7 global trading, aggregating global liquidity to enhance capital efficiency; 3. Next-generation payments, utilizing stablecoins for near-instant, low-cost global transfers, including AI agent payments; 4. AI-driven risk, credit, compliance, and consulting, providing everyone with access to quality financial advisory services; 5. Encouraging innovative regulation, shifting from a one-size-fits-all approach to risk-based rules; 6. Expanding access, allowing all smartphone users to participate through open protocols and self-custody wallets; 7. Capital formation, lowering the threshold for financing any good ideas; 8. Sound money, providing a hedge against inflation when fiat discipline is lost.

Armstrong stated that achieving these goals requires significant technological innovation and policy promotion.

Aave founder Stani: DeFi lending protocol valuation should not primarily rely on TVL

According to ChainCatcher, Aave founder and CEO Stani Kulechov tweeted that the valuation of DeFi lending protocols should not primarily reference TVL, as it measures net collateral rather than lending activity. Comparing data from the end of 2025, Aave's supply is about $52 billion, active loans are about $22 billion, lending interest flows exceed $700 million, and DAO reserves are about $150 million; SoFi has deposits of about $37.5 billion, a loan book of about $38 billion, loan income of about $1.8 billion, and net profit of about $481 million.

Stani stated that in traditional finance, deposits are liabilities or capital costs, while loans are interest-bearing assets, and lenders typically assess based on loan books, interest income, spreads, and asset growth; however, the DeFi market mainly focuses on TVL and DAO retention fees. He believes that Aave is closer to a lending business exceeding $700 million under traditional financial accounting frameworks, rather than a $150 million revenue protocol; TVL is not the income basis for lending protocols, while loan books and interest flows are core.

Meme Popularity Rankings

According to the meme token tracking and analysis platform GMGN, as of May 26, 09:00,

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

The top five popular Solana tokens in the past 24 hours are: TROLL, neet, WORLDCUP, HANTA, Buttcoin

The top five popular Base tokens in the past 24 hours are: toby, ELSA, cbETH, CYPR, ALB

What are some interesting articles worth reading in the past 24 hours?

The richest Fed Chair in 112 years has arrived: Kevin Warsh is rewriting the rules

On the 22nd local time, Kevin Warsh took office as the Chair of the U.S. Federal Reserve.

Coming from a Wall Street investment bank and having experienced the handling of the 2008 financial crisis, Warsh lacks the traditional academic background of central bank officials but has proposed alternative policy ideas of "quantitative tightening + interest rate cuts," intending to reshape the operational rules of the Fed's monetary policy.

His reform demands for the Fed's decision-making mechanism and tightening of policy communication provide a new breakthrough for the Fed, which is trapped in the dilemma of "fiscal expansion and monetary contraction," and introduce unknown variables to global capital markets, the dollar credit system, and even global asset allocation patterns.

This seemingly simple personnel change is not just a routine power transition but a key turning point that will reshape the Fed's decision-making logic, disturb the trends of core assets such as U.S. Treasuries, the dollar, and commodities, and further rewrite the global monetary and financial order.

Google Engineering Director: 21 design patterns for building AI Agents

Antonio Gullí is the Engineering Director at Google. He wrote a 453-page book that breaks down AI Agent development into 21 design patterns.

But this is not a book review. My motivation for reading this book is very specific: I have written about Harness Engineering, shared experiences with Clawdbot, and discussed the seven transitions from burning tokens to truly usable AI agents, and after each writing, there has been a question I haven't fully thought through: Is there a reusable underlying logic behind these things?

This book gave me the answer, and it was deeper than I expected.
Vitalik emphasizes that Ethereum must be "amazing," but the foundation is not the center
After a series of negative events, including the continuous departure of core members and criticism from former core supporters, Ethereum founder Vitalik had to publish a lengthy response to the community today to quell public opinion and inject more confidence into the community.

In fact, all negative doubts essentially stem from the decline in ETH's price. Compared to the strong performance of Hyperliquid, Ethereum lags in ecological prosperity, community belief, and main chain performance, resulting in its price dropping by more than 64% in the past year at most. In contrast, HYPE's price has repeatedly hit new highs, surpassing $64 at its peak.

As a result, the Ethereum community has directed its main criticism at Ethereum's core contributor: the Ethereum Foundation. Many opinions suggest that the strategic formulation of the Ethereum Foundation is vague, with frequent changes in leadership, and not only has it not increased its ETH holdings but has also continued to sell tokens, failing to represent the interests of ETH holders.

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