Publication Date: February 26, 2025
Author: BlockBeats Editorial Team

Over the past 24 hours, the crypto market has seen intense discussions on multiple fronts. Mainstream topics have focused on the controversy surrounding AI-induced mass layoffs, whether the Ethereum roadmap can truly materialize, the structural risks of Wall Street market-making institutions, and the political boundaries between cutting-edge AI companies and national security. In terms of ecosystem development, Ethereum is advancing L2 interoperability and cross-chain infrastructure layout, Solana is accelerating its protocol coordination, security efforts, and the implementation of AI development tools, Perp DEX is engaging in a new round of competition around incentives and governance mechanisms, and the prediction market is rapidly upgrading towards real-time news and a verification layer.

 I. Mainstream Topics

 1. Block Layoffs 40%: Is AI Truly Driving This or Is the Layoff Narrative a "Shield"?

 Jack Dorsey posted an internal memo on X, announcing that Block was cutting over 4,000 employees in a single day (about 40% of its 10,000+ workforce), stating clearly that this move aimed to achieve a smaller scale and more efficient organizational structure through AI tools.

 Controversy ensued: Is AI really mature enough to replace 40% of positions in a short period, or is the company using the AI narrative to mask deeper operational or capital pressures? Has there ever been a precedent in history where a technology born in December led to such large-scale layoffs in February?

 Avi Felman and others argue that when Elon cut 80% of Twitter's workforce years ago, AI was far from mature, and now AI is just a more "reasonable" rationale, but the essence remains organizational slimming down; draecomino and James Wang point out that there has never been a case in history where a technology emerged and led to a 40% layoff within two months, indicating that this cannot be the real impact of AI; protolambda emphasizes that decision-making costs in large corporations are already high, and even with AI, an increase in workforce size does not necessarily equate to higher productivity. The real core contradiction lies in whether the speed of AI productivity enhancement has severely mismatched with the traditional enterprise's decision-making pace and organizational adjustment capabilities.

 2. EF Protocol Strawmap: Is this the Practical Path to ETH 3.0 or a Blueprint Stuck at the Visionary Level?

 Justin Drake announced the launch of strawmap.org, serving as the "strawman-style" roadmap for the EF Protocol, outlining multiple hard fork upgrades through 2029, aiming to encompass advancements such as high-speed L1, gigagas-level L1, and teragas-level L2.

 Debate surrounding this roadmap has focused on whether it provides a clear and executable path, and whether AI truly empowers researchers with "superpowers," or if the EF's governance structure and execution efficiency remain bottlenecks.

 dcfgod believes that the architecture of ETH 3.0 is already clear, namely the layered progression of fast L1, gigagas L1, and teragas L2; Ryan S. Adams points out that AI has indeed enhanced researchers' capabilities, but the real differentiation lies in agency and vision; _choppingblock implies that there is still significant room for improvement in the current roadmap.

 The underlying long-term tension revolves around whether the Ethereum Foundation's preference for an open discussion-based roadmap approach can meet the real-world's higher demands for rapid iteration and implementation.

 3. Jane Street Becomes Largest Holder of SLV: Normal Arbitrage or ETF Structural Risk Signal?

 Jane Street accumulated a large position in iShares Silver Trust (SLV), becoming its largest holder, raising questions about the ETF Authorized Participant (AP) arbitrage mechanism, and has been linked by some to recent lawsuits, "paper BTC" risks, among other issues.

 The controversy lies in determining whether this is a typical quantitative arbitrage behavior or a signal of potential market manipulation or liquidity pressure.

 Macrobysunil questions why Jane Street needs to hold such a large position and whether their motivations are worthy of deep exploration; protolambda analogizes Jack Dorsey's layoff remarks to "citrini doom round 2," implying that the paper asset structure may pose a broader systemic risk.

 At a deeper level, when commodity ETFs decouple from the cryptocurrency spot and derivatives markets, will the ETF AP mechanism amplify systemic fragility.

 4. Anthropic CEO Rejects US Department of Defense Request: Political Red Line for AI Companies?

 Anthropic CEO officially refused to comply with the US Department of Defense (referred to as the "Department of War" in some discussions) request. The "Reject" option on Polymarket saw odds swing dramatically to around 44%.

 At the heart of the market discussion is whether AI companies should provide unrestricted models for defense or surveillance systems, and whether this rejection will become a defining event in the 2026 AI politicization process.

 Some members of the Polymarket community believe that the 44% odds reflect a genuine split in the market over the "ethical red line"; garrytan suggests that in an environment where AI is highly politicized, users holding Meta-prompting skills may become a form of self-protection.

 The event reflects the ethical and commercial tension between cutting-edge model development and national security interests.

 5. AI Capex Cycle: Depleting Global Liquidity or Growing Pains of a New Phase?

 @plur_daddy posted "There's Not Enough Money In The World—AI capex cycle causing market regime change" (1.7M views), which was retweeted by KOLs like Ansem, drawing a direct comparison to Elon and Dorsey's layoffs.

 The central controversy is whether the AI infrastructure investments in the scale of hundreds of billions of dollars are causing a "dual squeeze" of global liquidity contraction and employment impact, or is it an inevitable structural realignment in a growth phase?

 plur_daddy believes that AI capex is creating a new market regime of "not enough money"; eliant_capital and Ansem point out that just as no one questioned Elon's layoffs back then, Dorsey's layoffs today may similarly be a continuation of capital concentration and organizational restructuring.

 The more fundamental question is whether the extremely capital-intensive AI growth path has already caused a structural mismatch with the liquidity supply capacity of the existing global financial system.

 II. Ecosystem Development

1. Ethereum

DoubleZero Enters Ethereum: Solana Infrastructure Company's Cross-Chain Deployment

DoubleZero, co-founded by Solana's former CMO Austin Federa, announced that it will be migrating its servers to the Ethereum ecosystem with the goal of "Making Solana Faster." CoinDesk reported its participation in the global speed race. This move quickly gained endorsement from key Solana members and was simultaneously reshared by several ETH and Solana KOLs, widely seen as a positive signal of infrastructure integration and collaboration between the two ecosystems. In a deeper sense, the cross-ecosystem deployment by a multi-chain era professional infrastructure service provider may become the new norm. However, the uncertainty remains regarding whether Solana's speed improvements will be long-term dependent on external migration capabilities, with variables and path dependency.

L2BEAT Launches Interop Tracking Tool

L2BEAT has officially released an Interop tracker designed to real-time track the cross-chain technology stack and interoperability progress of various Ethereum L2s. This tool quickly gained widespread resharing within the ETH community, interpreted as a significant milestone in L2 ecosystem transparency and standardization processes. In the long run, this tool is expected to drive interoperability unification and technical convergence among Ethereum L2s; however, in practical implementation, the real acceleration of integration within a fragmented technology stack still faces uncertainty in terms of time and governance.

2. Solana

Jupiter Faces Breaking Change Incident

Jupiter's core operational member, SIONG, tweeted in the early morning, documenting an event where a protocol pushed a breaking change update without prior notice, leading the team to work through the night. Projects like Backpack and Armani refrained from direct comments but collectively retweeted, amplifying the incident signal. Subsequently, a widespread discussion within the Solana ecosystem emerged regarding the lack of coordination and communication mechanisms between protocols. This incident exposed the governance fragmentation risk in a high-frequency iterative ecosystem, which may eventually force Solana to establish a more mature cross-protocol notification standard. However, in the short term, the trust cost within the ecosystem has notably increased.

Reserve Protocol Increases Security Bounty to $250,000

Ted Livingston has announced an increase in the security bounty for the Reserve contract to $250,000, emphasizing the goal of "ensuring that the contract is as secure as possible." This move is seen within the Solana DeFi project space as a proactive commitment to security development, setting a higher standard for security investment. Nevertheless, against the backdrop of increasingly sophisticated attack vectors, there remains a practical uncertainty about whether $250,000 is sufficient to cover the cost of potential future attack surfaces and incentive demands.

DFlow and Phantom Launch Solana-Specific Claude Skills

DFlow, in collaboration with Phantom, has released the Claude AI skill pack designed specifically for Solana app development, quickly attracting high developer interest. This is interpreted as a significant event marking the formal entry of AI tools into the Solana development process. This move is expected to significantly lower the barrier to Solana dApp development, accelerate innovation and application iteration. However, the stability of the AI skill pack in a live production environment and its ability to consistently translate into real productivity remain to be further validated.

Base Launches x402 Protocol

Base Growth Lead minseok.base.eth has announced the official launch of the x402 protocol on the Base mainnet. Internally, the ecosystem widely regards this as a significant infrastructure-level upgrade, with a key focus on its empowering potential in on-chain payments, API calls, and other scenarios. This protocol may become the starting point for a Coinbase-linked on-chain standardization protocol, but its actual adoption rate, ecosystem compatibility, and developer acceptance will still require observation over time.

3.Perp DEX

Lighter Introduces LIT Fee Credits Program

Lighter has officially launched the LIT Fee Credits mechanism, allowing small liquidity providers and high-frequency traders to use LIT tokens to redeem fee discounts and enjoy matching delay advantages. The Perp DEX community broadly believes that this move reduces the barrier to entry for small and medium participants and helps diversify liquidity. If the mechanism operates smoothly, it may reshape the market maker ecosystem of perpetual contract DEXs. However, there is still uncertainty about the long-term sustainability and fairness of the tokenomics model.

The Chopping Block Focuses on AI × Crypto and the OpenClaw Security Incident

This week, The Chopping Block podcast invited @ilblackdragon to discuss the integration of AI and crypto narratives and the serious security incident of OpenClaw. The episode was widely circulated in the cross-track KOL community, with a core focus on the coexistence of opportunities and risks in the AI-Crypto intersection. The discussion highlighted that the 2026 AI-Crypto narrative has transitioned from the conceptual stage to the realm of real risk-taking, but frequent security events also serve as a reminder to the market that this track is still in its early fragile stage.

Hyperliquid Releases HIP-6 Governance Proposal

The Hyperliquid community officially released the HIP-6 governance proposal, sparking extensive attention from the Perp DEX governance circle. The discussion primarily focused on the direction of protocol parameters and incentive mechanisms adjustments. This proposal may represent an important step for Hyperliquid towards a more mature DAO governance structure, but the ultimate impact of the proposal and the strength of community consensus still leave room for negotiation.

4. Others

Kalshi Instantly Releases Musk's "hold on" TSLA News

Kalshi posted Elon Musk's call to hold TSLA in a "JUST IN" format, garnering 140,000 views in a single post and simultaneously disclosing a reporting channel. The prediction market is transitioning from a mere betting tool to real-time news dissemination and validation. This move signifies that the prediction market is becoming one of the mainstream information discovery channels, but long-term challenges related to regulatory compliance and information authenticity control are also emerging.

Polymarket Experiences Violent Fluctuations in Multi-Event Odds

In the past 24 hours, Polymarket has been tracking significant events such as the "FAA closing the Texas airspace" and "Anthropic refusing a request from the Department of Defense," causing real-time fluctuations in related odds. The crypto and AI communities generally view this as evidence of the prediction market strengthening as a geopolitical and AI political news discovery engine. The prediction market is rapidly evolving into a parallel news validation layer, but the risks of event manipulation and structural vulnerabilities in authenticity have yet to be thoroughly addressed at a mechanistic level.

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