Industry Reports

The Uniswap Foundation's unaudited financial snapshot for 2025 shows $49.9 million in cash, 15.1 million UNI, and 240 ETH, enough to fund operations until January 2027. It plans $106.2 million for grants and incentives, emphasizing its role in ecosystem support.

Tokenized bonds open the door for more capital beyond T-bills OpenEden has launched tokenized, high-yield corporate bonds, expanding the RWA market beyond T-bills and attracting additional on-chain capital flows. Tokenized bonds are rapidly expanding into higher-yield asset categories. OpenEden is focusing on the debt segment.

Axe Compute (NASDAQ: AGPU) released its FY2025 annual financial report, showing a total contract amount of $12 million over the past 30 days, an estimated Q2 revenue of $835,000, and more than 20 clients. Following the earnings release, AGPU’s stock price surged by up to 152%, with trading volume reaching a record high. All computing power is supplied by the Aethir network, covering 94 countries and deploying over 435,000 GPUs.

A CEX CEO said they will study Bitcoin’s quantum-resistance-related issues and urged the industry to address potential threats as early as possible. Although post-quantum cryptography is feasible, execution must be approached with caution to avoid new risks. The exchange has already initiated infrastructure upgrades and is pushing community collaboration to develop quantum-resistant solutions.

This essay discusses the inefficiencies of stablecoins, highlighting that 90% are unproductive and act as a hidden tax. It identifies a significant opportunity within DAO treasuries and DEX liquidity, as well as emerging solutions like HyENA and Solomon that aim to enhance yields for users.

Digital asset ETPs saw a peak of over $250B, ending 2025 with $184B AUM, mainly driven by Bitcoin products. The market is evolving, with over 125 new filings indicating a trend toward diversified asset offerings.

Gate News message, on April 2, Clem Chambers, founder of the European stocks and market news platform ADVFN, said that the crypto industry is moving out of a cycle centered on token speculation, and that the next bull market will be driven by real-world blockchain use cases. Chambers noted: "That era may have ended, and is heading toward its conclusion; what will replace it is genuine use cases." He advised investors to "forget financial primitives (Fi) and instead focus on applications—the actual use-case scenarios where tokens and blockchain are put to work."

Google releases a white paper warning that quantum computers may break Ethereum, putting hundreds of billions of dollars in assets at risk. The report points out that there are multiple vulnerabilities in systems such as giant whale wallets, DeFi management keys, and staking systems, and that a high level of alertness is needed. The Ethereum Foundation has already launched research into post-quantum cryptography and plans to carry out a system upgrade before 2029.

The TON core team announced a consensus mechanism upgrade: Catchain 2.0 has started mainnet deployment. The goal is to reduce block confirmation time to about 1 second. This upgrade improves block generation speed and emphasizes that application developers need to adapt to the Streaming API to ensure a good user experience. If they do not adapt, the benefits of the upgrade will be greatly diminished.

The founder of SlowMist, Yu Xuan, disclosed that the Drift Protocol theft incident was caused by its migration to a 2-of-5 multisig scheme without a timelock, which enabled the attacker to quickly seize control of permissions and resulted in losses of over $200 million. He urged DeFi project teams to regularly review risks, and users need to pay attention to the protocol’s risk of capital loss.

Standard Chartered predicts the stablecoin market could reach $2 trillion by 2028, driven by increased token velocity and greater adoption in traditional finance and AI payments, particularly with USDC. The bank envisions a more efficient circulation of stablecoins alongside market growth.

Stablecoins are undergoing an evolution into a foundational financial infrastructure. North America leads in development, focusing on regulated, compliant options. The market shows a shift with RLUSD gaining traction due to integration with Ripple, emphasizing real demand over exchange liquidity.

At the EthCC conference, Protocol Guild contributor cheeky-gorilla said that Ethereum L1 core developers are paid less than the market, and that high-performance projects lure them away with higher salaries, which could cause critical roadmaps to stall. To protect the Ethereum ecosystem, they urged project teams to give back to Protocol Guild with a "1% Pledge," emphasizing the necessity of maintaining L1 development.

In March 2026, total funding in the crypto primary market reached $2.58 billion, up sharply 286.3% from February. DeFi, CeFi, and infrastructure are the main funding areas. The predicted-market projects Kalshi and Polymarket together raised $1.6 billion, accounting for 64.3% of the total. M&A events pushed the broader total funding amount to $4.279 billion.

Grayscale research head Zach Pandl said that the current tokenization market is about $27 billion, and is expected to grow to nearly $190 trillion by 2033. Development will be rolled out in phases: early on, institution-led permissioned networks will lead, while in the long term, Ethereum will become the primary platform for decentralized finance.

A report from Google’s Quantum AI team indicates that Ethereum faces five major quantum computer attack risks, which could affect assets worth more than $10 billion. These include exposed “naked whale” wallets, vulnerable administrator keys, and staking systems, among others. Although research has begun on defensive measures, many smart contracts still have future risks.

At the EthCC conference, Nethermind founder Tomasz Stanczak said that Ethereum has shifted toward efficient execution and market integration, emphasizing the importance of collaboration between the protocol team and developers, and proposing three major technical directions. In addition, he revealed that he is working on a Taiko-based Rollup project to improve integration with traditional finance.

Ethereum Foundation researcher Jihoon Song presented FOCIL’s progress at the EthCC conference. The project aims to reduce Ethereum’s centralization risk by using a decentralized committee of validators. FOCIL improves blocks’ resistance to censorship by randomly selecting validators and encoding rules, lowers attack risk, and supports account abstraction and privacy protocols. This mechanism has been confirmed as a core feature of Ethereum’s future upgrades.

An Ethereum Foundation researcher presented the zkAttester client solution at the EthCC conference, addressing the computational burden of node re-execution, allowing validators to verify zero-knowledge proofs directly, lowering CPU performance requirements, shortening the time for new node synchronization, and helping enable Ethereum light verification and scaling.

An Ethereum Foundation researcher, Antonio Sanso, updated the progress on Ethereum’s post-quantum security at the EthCC conference, noting that quantum computing will threaten the ECDSA algorithm in the mid-2030s. Ethereum has completed about 20% of its post-quantum readiness and plans to fully implement quantum resistance from 2028 to 2032. The main challenge is signature size, and the research team will address it through account abstraction and the introduction of LeanVM.