A proposal to cut the cost of energy, a resource used to process transactions, is gaining support and is nearing the number of votes needed to pass.

The voting ends on August 29, and if just one more approval is secured, the plan will move forward.

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The change would lower the energy price from 210 sun to 100 sun. In Tron’s system, 1 TRX equals 1,000,000 sun, so that this change would cut the energy cost by more than half.

This means that many users, especially those sending numerous transactions, such as stablecoin transfers, would require less TRX to cover fees.

However, with energy priced at 210 sun, about 76 million TRX is burned or removed from circulation. If the new rate of 100 sun is adopted, that burn rate would fall, which might lead to more TRX being created than destroyed, unless transaction activity increases to make up the difference.

As of August 27, 17 of the 27 Super Representatives, the entities that validate blocks and vote on upgrades, had approved the proposal. These include participants like Chain Cloud, CryptoChain, Nansen, HTX.com, P2P.org, and Tron Alliance.

Ten more have yet to vote, and only one more “yes” is needed to meet the required 18 approvals.

Meanwhile, Solana recently experienced a short-lived surge in network activity, with transactions per second (TPS) reaching six figures. How? Read the full story.

Wormhole Foundation (WF) entered the bidding competition for Stargate Finance, challenging LayerZero’s proposed $110 million acquisition.

In an Aug. 20 statement via X, WF argued that LayerZero’s offer significantly undervalues the cross-chain bridge protocol.

LayerZero Foundation announced its acquisition proposal on Aug. 10, offering to purchase all circulating STG tokens at $0.1675 per token through a swap for ZRO tokens. 

The proposal requires approval from STG holders through Stargate’s governance process, with a 70% approval threshold needed for passage.

Wormhole Foundation contended that LayerZero’s bid fails to reflect Stargate’s true value, citing the protocol’s treasury holdings and recent performance metrics.

Further, Wormhole shared that Stargate maintains over $92 million in treasury assets, including $76 million in stablecoins and $16 million in Ethereum, while demonstrating substantial growth momentum.

Performance drives valuation dispute

On-chain data shows that Stargate processed $4 billion in bridge volume during July 2025, representing a 10x year-over-year increase. As of Aug. 20, it had $348 million in total value locked (TVL) across more than 80 chains.

According to the Wormhole Foundation:

“STG holders deserve better. The current bid undervalues the protocol’s assets, brand, codebase, and team.” 

The WF added that these fundamentals justify a “meaningfully higher offer” than LayerZero’s proposed valuation.

LayerZero Foundation defends its pricing, noting Stargate’s backing of $0.14444 per circulating token compared to its trading price of $0.1637 per token at proposal time. It added that based on its calculations, the offer represents a premium on both metrics.

Differences beyond offers

LayerZero positions the acquisition as ecosystem consolidation, noting Stargate’s established infrastructure and user base. The foundation plans to direct all future Stargate excess revenue toward ZRO token buybacks while expanding the protocol’s mandate beyond traditional bridging services.

In addition, LayerZero argued that unified governance would eliminate resource conflicts between potentially competitive protocols.

At the same time, Wormhole Foundation proposed an alternative vision combining “Stargate’s unified liquidity pools with our broad ecosystem of integrations.” 

The foundation said this approach would generate “higher volumes, higher revenues, and greater stickiness,” benefiting both STG and W token holders. It also requested a five-business-day suspension of the ongoing on LayerZero’s proposal vote to allow time for due diligence and bid preparation. 

The governance vote requires a 1.2 million veSTG token quorum with 70% approval for LayerZero’s proposal to pass. The proposal was amended to provide additional compensation for veSTG stakers through six months of revenue distribution.

The amendment happened following criticism about the equal treatment of locked versus unlocked tokens.

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Simon Chandler

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Simon Chandler

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Simon Chandler is a Brighton-based writer and journalist with over ten years of experience writing about crypto, technology, politics and culture. He has written for Cryptonews.com since late 2017,…

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July 23, 2025

The Dogecoin price has dipped in the past 24 hours, falling to $0.2591 as the crypto market struggles to maintain recent momentum today.

Even with this drop, DOGE remains up by a healthy 29% in a week and by 69% in a month, with the meme token also boasting a 90% gain in the past year.

And the positivity doesn’t stop there, because a recent upgrade proposal – specifying zero-knowledge proofs for the Dogecoin blockchain – could help to boost the token even further over the longer term, making it more useful as a network.

This new feature, which would enhance Dogecoin’s speed and scalability, could drive more users to the token, something which points to a very bullish long-term Dogecoin price prediction.

Dogecoin Price Prediction: Major Upgrade Proposal Could Change Everything for DOGE – $1 Just the Beginning?

Put forward by the team behind the MyDoge wallet, the proposal would upgrade Dogecoin Core such that it could verify off-chain zero-knowledge proofs.

In other words, it would make the Dogecoin blockchain compatible with zk-rollups, giving the Dogecoin ecosystem access to layer-twos that could make it faster and cheaper.

If accepted, this upgrade could prove massive for Dogecoin, providing it with greater privacy and greater scalability.

In turn, it could pave the way for the development of a whole ecosystem of DOGE-based apps, giving Dogecoin the utility it has mostly lacked up until now.

There’s still no confirmation that validators will accept the proposal, but given the community’s positive reception to the potential update, it could be only a matter of time.

And if it does get the green light, it will no doubt have a hugely positive impact on the Dogecoin price, which is correcting a little today after recent gains.

As we can see from its one-week chart, it remains near the beginning of an upswing, having recently broken through of a descending channel.

Its relative strength index (yellow) is hovering around the 60 mark, and has yet to reach an overbought position.

Meanwhile, its MACD (orange, blue) is about to turn positive for the first time in several months, meaning that more gains should be on the way.

And if we do receive confirmation that Dogecoin’s validators will accept MyDoge’s proposal, then the Dogecoin price could easily reach new highs for the year.

It’s currently on track to hit $0.3 by the end of August, while it could end the year at around $0.5.

Such gains could be higher if the wider market extends its recent gains, with US stock markets continuing to hit new highs in recent days and weeks.

AI Content Creation Platform SUBBD Raises $850,000 in Token Presale: Next 100x Alt?

For traders looking to diversify beyond major tokens such as Dogecoin, there are many promising newer coins in the market right now, including a handful of presale tokens.

One of the most interesting of these is Subbd (SUBBD), an ERC-20 token that has now raised just over $850,000 in its ICO.

What’s bullish about SUBBD is that it will be the native token for the Subbd platform, which is an AI-powered adult content creation site that puts more control in the hands of creators.

Its harnessing of artificial intelligence means that creators can create AI-powered influencers and performers at the click of only a few buttons, while the use of crypto means that payment will be fair and transparent.

One of the most encouraging things about SUBBD is that its native platform has already launched, with the website boasting that its influencers/performers have a combined following of over 250 million.

This means that SUBBD is launching into an already healthy ecosystem, giving it a head start over many other new tokens.

Investors can join its presale by going to the Subbd website and connecting a compatible crypto wallet.

SUBBD is currently available for $0.055975, although this price will rise again later today.

Holders of the World Liberty Financial token, WLFI, have voted overwhelmingly to make these tokens tradable, a decision that could significantly impact their market value and the financial interests of the Trump family. 

WLFI Transition From Voting Rights To Tradable Assets

World Liberty Financial, a venture associated with Donald Trump’s family, launched the WLFI tokens last autumn as part of its decentralized finance (DeFi) platform, which also includes a stablecoin called USD1. 

Initially, these tokens were not designed for trading; instead, they granted holders voting rights on certain business developments, including changes to the platform’s underlying code. 

Related Reading

Early investors were primarily drawn to WLFI due to its association with Trump, banking on the expectation that the tokens would appreciate in value thanks to his backing.

The recent vote to allow trading of the tokens marks a crucial shift, enabling market forces to set their prices. This transition is likely to attract a wider array of investors, potentially generating trading fees for exchanges that list WLFI and fueling speculation about the tokens’ future value. 

Although it remains unclear how this will directly benefit the Trump family, the increased trading activity may enhance the overall value of their holdings, which are substantial.

Trump’s Potential Conflicts Of Interest

Critics, including several Democratic lawmakers, have raised concerns regarding the ethical implications of the Trump family’s financial involvement in World Liberty Financial. 

Senator Elizabeth Warren and Representative Maxine Waters have voiced their worries to the US Securities and Exchange Commission (SEC), arguing that the family’s financial stake constitutes a significant conflict of interest that could influence regulatory oversight of the cryptocurrency industry. 

They pointed out that the WLFI tokens have not been classified as securities by the SEC, which means they are not subject to the same level of regulatory scrutiny as traditional investments like stocks.

The White House has maintained that Trump’s assets are managed by a trust overseen by his children, asserting that there are no conflicts of interest. However, the specifics of this trust arrangement remain undisclosed.

World Liberty Financial Promises More Details

Trump’s company, DT Marks DEFI LLC, was allocated 22.5 billion of the total 100 billion WLFI tokens, with Trump himself holding approximately 15.75 billion tokens as of the end of last year. Reports suggest that the Trump family has generated around $500 million from World Liberty since its inception.

Related Reading

In light of the recent vote, the White House declined to comment to Reuters on how the tradability of WLFI might affect the family’s financial interests. A spokesperson for World Liberty Financial indicated that further details about the trading process would be provided soon.

The proposal to initiate tradability received overwhelming support, with 99.94% of approximately 20,900 votes in favor. Many token holders expressed their motivations for voting, with some citing expectations of price increases and others aligning their investment with support for Trump. 

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Senator Adam Schiff of California rolled out a bill on Monday aimed squarely at the highest office in the land. It would bar the president, vice president and their immediate family from getting into any crypto business while wearing the badge of public office. The move comes as concern is growing over political power mixing with digital money moves.

Strict Ban On Crypto Endorsements

According to the Curbing Officials’ Income and Nondisclosure (COIN) Act, no sitting president or vice president could issue, sponsor or endorse any cryptocurrency, meme coin, NFT or stablecoin.

The same rule would cover their spouses and children. Based on reports, the plan even makes them report any sale of digital assets over $1,000. That simple step could force more transparency on deals that happen behind closed doors.

Source: US Senate.

Heavy Penalties For Violators

The COIN Act sets clear penalties for anyone who steps out of line. Civil fines would match the profit made on a bad deal. Anyone who breaks the rule could also face up to five years in prison.

It’s a steep price. That level of punishment sends a strong signal that these are not harmless side projects but serious conflicts of interest.

U.S. Democratic lawmakers introduce bill to combat crypto-related conflicts of interest

Ten Democratic lawmakers, including California Senator @SenAdamSchiff, have introduced the “Curbing Officials’ Income and Nondisclosure” bill or COIN Act, to prevent the president and public…

— CoinNess Global (@CoinnessGL) June 23, 2025

Links To Trump’s Crypto Deals

Schiff did not hide why he pushed this bill. Based on reports, US President Donald Trump pulled in $58 million from crypto ventures in 2024, mostly from WLFI token sales.

That haul was second only to his hotel and resort earnings. And he’s eyeing another $390 million token sale in 2025, plus gains from his meme coin that launched in January.

BTCUSD trading at $105,330 on the 24-hour chart: TradingView

His companies are also involved in Bitcoin mining and a proposed $2.3 billion Bitcoin treasury plan under Trump Media and Technology Group.

The SEC cleared that $2.3 billion filing on June 13, covering 85 million shares and 29 million tied to convertible notes.

Challenges In A Divided Congress

Getting this through won’t be easy. Nine Senate Democrats have signed on as co-sponsors. Of those, seven backed last week’s GENIUS Act, which set stablecoin rules for Congress but left the president untouched.

That split vote showed how tricky it is to balance broad crypto rules with a law aimed at one person. The House is under Republican control, and any bill that could put a president in a bind is likely to stall in committee.

Featured image from Pexels, chart from TradingView

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Ethereum’s core developers are pushing for a major technical change that could reshape how quickly the network processes transactions.

On June 21, Barnabé Monnot, one of Ethereum’s core contributors, suggested a new proposal, EIP-7782, which would halve the block slot time from 12 seconds to 6 seconds.

According to him:

“Shorter slot times make Ethereum a better confirmation engine, which is arguably one of its main value propositions for apps and rollups settling on Ethereum L1. Everyone benefits directly.”

EIP-7782 benefits

He explained that the proposed changes would improve confirmation speed, reduce trading costs on decentralized platforms, and create better conditions for cross-chain protocols.

The proposal also includes adjustments to the timing of several core blockchain operations, such as attestation and aggregation windows.

Under EIP-7782, the block proposal slot would shrink from 4 seconds to 3. Attestations and aggregations would move even faster, cut from 4 seconds to 1.5 each.

Monnot has proposed that the EIP should headline Ethereum’s upcoming Glamsterdam upgrade. He said:

“There are multiple slot restructuring proposals already made for Glamsterdam (EIPs 7732 and 7886), focused more on scaling We want to use our Glamsterdam proposal as a place to highlight the value of shorter slot times, and progress the conversation towards their implementation.”

Meanwhile, this push for faster slot times aligns with the Ethereum Foundation’s broader goal of enhancing the network’s Layer 1 performance and refining user experience.

Considering this, Storm Slivkoff, a research partner at Paradigm, supports the proposal. He noted that reducing latency could be the most valuable upgrade included in Glamsterdam, especially as transaction fees drop below $0.10.

In such an environment, increasing block size yields diminishing returns. Instead, improving block quality becomes more critical.

Ethereum’s ecosystem growth

The proposal comes as Ethereum’s activity hits new highs amid rising institutional adoption.

According to GrowThePie data, more than 20 million active addresses interacted with the network last week, setting a record. However, most of that activity happened on layer-2 networks, such as the Coinbase-backed Base.

So, as Ethereum’s Layer-1 developers now propose making the core network faster and more efficient. If successful, the proposed slot time cut could improve performance where speed, cost, and usability matter most.

Mentioned in this article

South Korea’s top financial regulator is working on a detailed roadmap to support the launch of digital asset spot exchange-traded funds.

According to a June 19 report by Herald Economy, the Financial Services Commission revealed the move during a policy update to the State Affairs Planning Committee.

The FSC plans to roll out its proposal in the second half of the year. It will evaluate the implications of introducing crypto-based spot ETFs, including potential risks to financial stability, investor exposure, and the broader economy.

The agency also intends to build the necessary infrastructure for listing and managing such ETFs while ensuring investor safeguards.

This policy push aligns with campaign pledges made by President Lee Jae-myung, who previously advocated for allowing the issuance and trading of Bitcoin-based ETFs and similar investment products tied to digital assets.

Stablecoin oversight and fee structure under review

Beyond the ETF rollout, the FSC is advancing the second phase of its digital asset legislation.

This next step will focus on regulations for asset listings, disclosures, business practices, and crackdowns on unfair market activity.

A key part of the effort will be aligning stablecoin rules with international standards while protecting users and enhancing market transparency.

Notably, South Korean authorities are particularly concerned about the growing influence of US dollar-denominated stablecoins in the domestic market. Lee Chang-yong, the governor of the Bank of Korea, recently cautioned that won-pegged stablecoins could increase demand for the US dollar, raising macroeconomic risks.

Meanwhile, the FSC reportedly plans to launch a market-wide review of transaction fees charged by local crypto exchanges.

The review will initially target South Korea’s largest exchanges, including Upbit, Bithumb, and Coinone.

Key areas of interest include how these platforms’ fees are structured, whether they disclose this information transparently, and the extent of voluntary fee reductions.

South Korea’s latest regulatory steps reflect its intent to balance innovation with user protection as it reshapes its crypto market policy

New York City Comptroller Brad Lander has rejected Mayor Eric Adams’s proposal to issue municipal bonds backed by Bitcoin, calling the idea both “legally dubious and fiscally irresponsible.”

Lander, who shares responsibility for the city’s debt issuance alongside the Mayor’s Office of Management and Budget, made clear that the city will not pursue any crypto-backed borrowing while he remains in office.

Bitbond Battle Brews in NYC as Election Rivals Clash Over Crypto Policy

Lander said in a statement on Thursday that “Cryptocurrencies are not sufficiently stable to finance our city’s infrastructure, affordable housing, or schools,” according to a report by Bloomberg.

He added, “Proposing that New York City should open its capital planning to crypto could expose our city to new risks and erode bond buyers’ trust in our city.”

The response follows remarks made by Mayor Adams on Wednesday during his speech at the Bitcoin 2025 conference in Las Vegas.

Addressing a crowd of crypto enthusiasts, Adams called for the creation of a “Bitbond,” expressing his intention to make New York a national leader in crypto innovation.

“We need to have a Bitbond, and I’m going to push and fight to get a Bitbond in New York,” Adams said. “If it grows in New York, it will cascade through the entire country.”

The mayor’s comments come just a week after he hosted the city’s first crypto and digital assets summit at Gracie Mansion. There, he unveiled a digital assets advisory council designed to boost fintech investment and job creation in the city.

But Lander pushed back hard on the idea. He pointed to legal and regulatory constraints that limit how municipal bonds can be issued and used. According to him, the city can only issue debt for specific public purposes and must do so in compliance with federal tax law.

“The current federal tax law regime would most likely neither permit tax-exempt financing for acquiring cryptocurrency nor permit investment gains in excess of the federally subsidized financing costs,” Lander said.

He also emphasized that the city does not have any system in place to handle infrastructure financing in cryptocurrencies or to convert digital assets into U.S. dollars.

Adams, who is seeking re-election this November as an independent, did not respond to requests for comment.

Lander, a Democrat and a candidate for mayor himself, made clear that under his watch, Bitcoin-backed bonds won’t be part of the city’s fiscal strategy.

With both candidates positioning themselves for November, the clash over crypto policy could become a defining issue in the race.

Mayor Echoes Trump’s Crypto Playbook Amid Growing Political Embrace of Digital Assets

Mayor Adams is doubling down on crypto as part of his re-election campaign, echoing Donald Trump’s strategy from last year when Trump vowed to make the U.S. the “crypto capital of the world.”

Trump’s actions included issuing an executive order to create a digital asset task force and hosting the White House’s first crypto summit in March with top industry executives.

Adams, recently cleared of corruption charges by the DOJ, a move that sparked backlash and resignations, has now become a prominent face at crypto events.

In Las Vegas, he spoke at the industry’s largest conference alongside figures like VP J.D. Vance and Senator Cynthia Lummis. These events, once dominated by industry leaders, now increasingly feature political figures.

At a side event hosted by Tether co-founder Brock Pierce, Adams appeared again, showing a long-standing relationship dating back to his Brooklyn days. Last fall, Pierce even co-hosted a fundraiser for him in Puerto Rico.

Adams has championed crypto since his 2022 mayoral campaign, famously converting his first three paychecks into Bitcoin and Ethereum.

Now, NYC is forming a digital asset advisory council to explore launching a “Bitbond.”

A similar federal initiative, proposed by the Bitcoin Policy Institute, suggests bonds partly backed by Bitcoin for a potential strategic reserve.