The Foundation backing the Ethereum blockchain has laid out a new treasury policy to ensure it allocates resources efficiently while supporting its DeFi ecosystem. The Ethereum Foundation is adopting a more structured and transparent treasury policy that ties operational costs and cash needs to its Ether reserves and sales to strengthen its financial position as it anticipates a pivotal 18 months ahead. Its annual operating cost — measured as a percentage of the EF’s treasury — and the number of years of runway will be reassessed regularly, factoring in market dynamics and community input to ensure the foundation’s short-term operations remain aligned with its long-term strategy, one of the foundation’s directors said on June 4. Hsiao-Wei Wang said the Ethereum Foundation currently only has 2.5 years before it runs out of cash, setting the stage for a crucial 18 months as it seeks to deploy resources more deliberately and provide more ecosystem support: Read more
USDC issuer Circle has again upsized its initial public offering above the marketed range, selling 34 million shares at $31 each. Update (June 5, 12:50 am UTC): This article has been updated to include more information about Circles’ IPO. Stablecoin issuer Circle Internet Group, Inc. has again boosted its initial public offering to $1.05 billion, pricing its shares above its previous marketed range. The USDC (USDC) stablecoin manager said on June 4 that it will now look to offer 34 million shares at a price of $31 each when it debuts on the New York Stock Exchange on June 5. Read more