Sberbank Launches Bitcoin Bond Amid Crypto Integration Push Ethereum Foundation Cuts Staff to Tackle Core Protocol Challenges Circle Boosts IPO Size by 33% to $7.2 Billion on Investor Demand

Russia’s largest bank, Sberbank, has introduced a structured bond that provides investors with exposure to bitcoin price movements and changes in the dollar-to-ruble exchange rate. This innovative financial product is available over the counter to a select group of qualified investors. It offers payouts based on two key factors: the performance of bitcoin in U.S. dollars and the strength of the dollar against the ruble. Transactions are settled in rubles and processed entirely within Russia’s financial infrastructure. This launch is part of Sberbank’s broader strategy to integrate cryptocurrency into its financial offerings, with plans to debut a bitcoin futures product via its SberInvestments platform on June 4.

The Ethereum Foundation has undertaken significant restructuring, including the layoff of several members from its research and development team. This move is aimed at sharpening the focus on critical design challenges facing the blockchain’s core protocol. The changes are part of a broader effort to streamline the nonprofit’s operations and address mounting concerns from the community. For over a year, developers and observers have warned that Ethereum’s dominance in blockchain technology could slip if the foundation fails to confront technical bottlenecks. The reorganized team, now rebranded simply as “Protocol,” will concentrate on three key areas: scaling Ethereum’s base layer, expanding “blobspace” for data availability, and improving usability for developers and end-users.

Circle, the company behind the USDC stablecoin, has expanded both the size and price range of its upcoming initial public offering (IPO) due to surging investor demand. The firm is now aiming to sell up to 32 million shares at $27 to $28 each, up from 24 million shares priced at $24 to $26, according to a new SEC filing. If shares are priced at the top of that range, Circle’s fully diluted valuation would hit $7.2 billion. The revised terms reflect heightened interest from major players in traditional finance. BlackRock, the world’s largest asset manager, is reportedly considering buying up to 10% of the IPO shares. Ark Invest, led by Cathie Wood, is also preparing to purchase $150 million worth of shares.