In today's crypto news, the Ethereum Foundation paused its open grant applications as part of a strategic shift in its funding approach, responding to a high influx of applications. This change aims to better align funding with the ecosystem's strategic needs while still supporting new projects through a refined grantmaking process. Meanwhile, Avalanche has seen a significant surge, becoming the fastest-growing blockchain with a 66% increase in transactions, totaling 11.9 million. This growth is attributed to heightened user engagement and the positive impact of the US government's adoption of Avalanche technology. In regulatory news, a US Treasury report revealed that American banks laundered $312 billion for Chinese money launderers between 2020 and 2024, highlighting a troubling trend despite the cryptocurrency sector's total illicit crypto volumes being significantly lower at $189 billion during the same period. These developments underscore ongoing challenges and shifts within the crypto ecosystem, influencing investor confidence and regulatory scrutiny.

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