Ethereum Rival Emerges as Stripe Taps Crypto Veteran Matt Huang to Lead Layer-1 Blockchain Tempo
Stripe, the $91.5 billion fintech giant, is making a bold move into the blockchain space with the appointment of Matt Huang, co-founder of Paradigm, as CEO of its new layer-1 blockchain, Tempo. Huang will continue his role at Paradigm while leading Stripe's ambitious crypto initiative, signaling the company's aggressive entry into the stablecoin and payments sector. This development highlights the growing competition in the blockchain industry, with Tempo poised to challenge established players like Ethereum. The announcement underscores Stripe's commitment to expanding its crypto offerings and could have significant implications for the future of digital payments and decentralized finance (DeFi).
Stripe Appoints Paradigm’s Matt Huang to Lead New Layer-1 Blockchain Tempo
Stripe, the $91.5 billion fintech giant, is doubling down on its crypto ambitions with the appointment of Matt Huang as CEO of its upcoming layer-1 blockchain, Tempo. Huang, co-founder of crypto venture firm Paradigm, will retain his role at the investment firm while steering Stripe’s blockchain initiative. The MOVE signals Stripe’s aggressive push into the competitive stablecoin and payments sector.
Tempo will operate as an independent blockchain with ethereum compatibility, though details on a native token or launch timeline remain undisclosed. Huang’s deep ties to Stripe—he already sits on its board—and his crypto pedigree at Paradigm, which manages $12.7 billion in assets, lend credibility to the project. Paradigm’s portfolio includes heavyweight projects like Uniswap and Fireblocks.
The development follows Stripe’s recent acquisitions of stablecoin issuer Bridge and wallet provider Privy, underscoring a strategic pivot toward blockchain infrastructure. While neither Stripe nor Paradigm commented on Huang’s dual role, the appointment reflects the growing convergence of traditional fintech and decentralized networks.
ETH Eyes New All-Time High Amid Institutional Demand and ETF Inflows
Ethereum flirts with record territory as institutional accumulation and spot ETF demand propel its rally. The second-largest cryptocurrency now trades at $4,675—a mere 6% shy of its $4,891 peak—after gaining 6.62% in 24 hours. Asian session trading pushed prices to $4,734.45 with volumes surging 25% to $61.58 billion.
Corporate treasuries are vacuuming ETH from markets. BitMine Immersion Technologies seeks regulatory approval for a $24.5 billion share offering to expand its 1 million ETH holdings, targeting 5% of total supply. SharpLink Gaming follows suit, raising $400 million for fresh purchases. This institutional stampede coincides with record inflows into Ethereum spot ETFs, though complete data remains unpublished.
Ethereum Whale Faces $26M Paper Loss Amid ETH Price Surge; Foundation Sells 5K ETH
A high-leverage Ethereum short position is nearing liquidation as ETH's rally continues. Wallet "0x8c58" opened a 20x short at $2,969 on July 1 via Hyperliquid, now facing $26 million in unrealized losses with liquidation looming at $5,000. The whale has injected over $12 million in additional margin to sustain the position during ETH's 86.8% surge from July lows.
Meanwhile, an Ethereum Foundation-linked wallet sold 5,094 ETH despite the asset's parabolic rise to $4,644 - just 5% below its all-time high. Institutional demand appears to be driving the momentum, with ETH outperforming most major assets this quarter.
Ethereum and Emerging Tokens Gain Analyst Favor as Crypto Market Momentum Builds
Ethereum's price surge to $4,375.72—a 2.37% daily gain—reflects growing institutional confidence in smart contract platforms. The network's $47.63 billion trading volume underscores accelerating adoption of LAYER 2 solutions and DeFi applications.
Analysts highlight ETH's ecosystem as a primary growth engine, with NFTs and Web3 infrastructure driving long-term expansion. Meanwhile, payment-focused projects like Remittix (RTX) are gaining traction for bridging crypto and traditional finance.
The market shift toward utility-driven blockchains continues unabated. Ethereum's $4.375 trillion market cap sets the benchmark, while innovative protocols carve specialized niches in the evolving digital asset landscape.
Sonic Labs Launches Ethereum-Pectra Compatible Testnet 2.1 to Boost Scalability
Sonic Labs has unveiled Testnet 2.1, integrating Ethereum's upcoming Pectra upgrade to enhance blockchain performance. The update focuses on scalability improvements and VIRTUAL machine optimizations, enabling developers to deploy smart contracts more efficiently.
The Pectra compatibility bridges Sonic's ecosystem with Ethereum, facilitating cross-chain decentralized application development. 'This upgrade demonstrates our commitment to advancing Ethereum-compatible scalability,' stated the Sonic Labs team. The integration arrives as Sonic's native token S gains momentum in decentralized finance markets.
Standard Chartered Raises Ethereum Price Target to $7,500, Eyes $25,000 by 2028
Standard Chartered has significantly upgraded its Ethereum forecast, now predicting the cryptocurrency will reach $7,500 by year-end—an 87.5% increase from its March projection of $4,000. The bank's bullish revision comes amid growing institutional demand and new stablecoin utility.
Ethereum's institutional adoption has accelerated dramatically, with corporate treasuries now holding 2.95% of total ETH supply. Bitmine leads this accumulation with 1.2 million ETH ($5.4 billion), followed by SharpLink's 598,800 ETH ($2.82 billion) position. This institutional buying pressure now outpaces Bitcoin treasury acquisitions during the current election cycle.
The revised outlook suggests Ethereum will surpass its 2021 all-time high of $4,891, requiring a 59% climb from current levels NEAR $4,707. Standard Chartered maintains an even more ambitious long-term target of $25,000 by 2028, signaling confidence in Ethereum's evolving use cases and scarcity dynamics.
