Welcome to the protocol, Coindesk’s weekly wrapping of the most important stories in cryptocurrency tech development. I am Margaux Nijkerk, a reporter in Coindesk.
In this number:
- Ethereum developers are targeted at Fusaka hard for
- Plasma to launch Mainnet Beta Blockchain for StableCoins
- XRP holders can now earn up to 8% through new floating stakestoken
- Internet computer bets Store at AI as crypto markets play collection
Network news
Fusaka is coming in December: The Ethereum core developers have confirmed a tentative roadmap for the network’s next major upgrade, Fusaka, under a Core Developers Consensus (ACDC) call. The upgrade, designed to further scale blockchain, is now scheduled for early December with follow -up changes aimed at more than doubling the clutter capacity in the weeks that followed. Before the fusaka upgrade reaches Ethereum’s mainnet, developers will push the code through three public test networks in October. If these tests go smoothly, the mainnet activation is targeted to December 3rd. Developers noted that accurate epoch nums and timing will be confirmed in the coming days. While fusaka itself does not immediately change blob parameters, the call outlined a phase approach to scaling climbing accessibility through so-called blob parameter (BPO) forks. One week after the Fusaka BPO-1, the blog target/max raises from 6/9 to 10/15, BPO-2 one week later will push the limit to 14/21. These step-by-step changes are based on performance observed on Fusaka Devnet-5 and are intended to safely expand capacity without requiring client software updates. Blobs, introduced in March Dencun upgrade, allows Ethereum to store large amounts of Rollup transaction data more effectively, reducing the cost of LAG-2 scaling network users. – Oliver Knight Read more.
Plasma Blockchain for StableCecoins Coming: Plasma, a new blockchain built specifically for stableecoins, is set to turn the contact on its long -awaited Mainnet Beta, introducing the chain and its original token, XPL, on September 25. According to a blog post from the team, the network will debut with more than $ 2 billion in stablecoin liquidity from over one hundred partners on day one aggressive attempt to position plasma not as just as just as just chain but as the backbone of stableecoin transfers. It won’t be an easy feat. Ethereum and Solana are already dominating stableecoin volumes, while newer chains continue to optimize for similar currents. Plasma’s efforts are that its architecture, called Plasmabft, will give it an edge. The system is designed for fast, composed stablecoin transactions, as the team said, and from the launch users will be able to move USDT with zero fees through Plasma’s dashboard – a feature that the team hopes will stand out in a crowded defi landscape. Token distribution is also aimed at broad accessibility. Before launching, 10% of XPL was sold in a public offer. At the launch, 25 million tokens are awarded to the community with an additional 2.5 million reserved for members of the so-called stablecoin collective.- Margaux Nijkerk Read more.
Midas and Interop Lavs reveals new Liquid Stake Token: Assets in the real world (RWA) -focused project Midas and Interop Labs revealed MXRP, an attempt to channel sleeping XRP supply to dividend -bearing structures, could deliver returns as high as 8%. Advertised on the XRPL Seoul 2025 on Monday and beaten as the first fluid set-up product tied directly to the XRP ecosystem, the product is characterized by XRPLS EVM through revised contracts. XRP is overbreaked and wrapped under Midas’ tokenized certificate frame. MXRP can be used as a structured vehicle that users can slot in existing decentralized financing infrastructure (DEFI) with early strategies, including market production and liquidity supply. Targeted net returns are set in the range 6% -8%, with results fluctuating depending on the underlying strategy benefit. And Shaurya Malwa Read more.
ICP is betting big on AI Tech Stack: ICP, a blockchain project that has tried to differentiate from rivals, doubles on its lanes as the Go-to-Network for Artificial Intelligence (AI) On-Chain (AI). This may be the beginning of a new tech stack – one in which AI, not humans, becomes the primary developer of applications, according to Dominic Williams, founder of the Internet Computer Developer Dfinity. Williams claimed that while crypto prices remain driven largely by market mechanics – treasury operations, liquidity games and speculation – the underlying technology will eventually force a calculation in an interview with Coindesk. “In the long term, the markets begin to reflect realities on Earth,” he said. “But you don’t yet see what’s happening to Internet computer is reflected in the ICP’s price.” The Internet computer first demonstrated neural networks that ran as smart contracts last April, starting with image classification and later face recognition, Williams said. While these were relatively simple models compared to large language models – the kind that drives AI tools like Chatgpt and Gemini – they were evidence of concept: AI can run naturally on a blockchain. No other network has achieved this, Williams pointed out despite the fact that “decentralized ai.” Where others rely on infrastructure outside the chain as Amazon Web Services, ICP seeks to integrate the full AI development and execution stack on-chain. Williams describes this as “a self -writing internet” – a system where users describe what they want and an AI delivers it as a work application that hosts the Internet computer directly. The bigger idea, Williams said, is that AI himself will replace much of today’s developer process. – – Jamie Crawley Read more.
In other news
- Key Metric tied to Blackrocks Nasdaq-Listed Spot BTC Exchange-Traded Fund, Ibit, has flashed warning signs for two equal months. Ibit’s one-year-old put-call cattle, a target of market atmosphere or pessimism, tilted positively on July 25 and has been comfortably over zero since then, according to Data Source Market Chameleon. It’s two straight months of bearish put bias. In other words, dealers have consistently preferred protective of the Bullish calls for two months, signaling a sustained cautious or risky view. A similar put option bias was observed from March 8 to April 21 this year, a period characterized by sharp decreases in both the spot price and Ibit, primarily driven by the trade war-induced weakness on Wall Street. – Omrar Godbole Read more.
- Bitcoin’s (BTC) Break under Key Support has led to a flurry of the ‘buy dip’ call on social media. However, liquidity trends suggest a potential for a deeper decline. BTC has fallen over 3% to $ 111,590 this week and pierced the widely traced 50- and 100-day simple movement average (SMA). Both indicators have lost their upward momentum for the first time since April, now flatlining to signal caution for bulls. Meanwhile, mention of “Buy DIP” on social media has risen to their highest level of almost a month, a narrative sign of bullish mood among retail investors, according to data tracking platform santiment. The platform tracks “Buy DIP” mentions using its social trend indicators that analyze the amount of relevant keywords and phrases across Reddit, Telegram and X (formerly Twitter). An increase in these mentions is considered a counter -counter from Santiment, which means that the ongoing BTC award could elaborate. – Omrar Godbole Read more.
Legislative and politics
- The US Commodity Futures Trading Commission starts an initiative to allow stableecoins as a tokenized collateral to meet the marginal need of the large derivative market and invites input from the industry on how to bring such a policy online. In the latest movement against crypto cluttering in the US financial sector, the acting head of CFTC, Caroline Pham, continues to promote politics in the absence of President Donald Trump’s current nominees to be chairman, former Commissioner Brian Quintenz. As the confirmation process for Quintenz remains the mirror in delays and some open conflict, Pham has regularly announced initiatives as part of a “crypto print” and work with chairman of securities and exchange commission Paul Atkins. “For years, I’ve said security management is ‘Killer App’ for stablecoins in markets,” Pham said in a statement. “I am excited to announce the launch of this initiative to work closely with stakeholders to enable the use of tokenized collateral including stableecoins.” Pham had been pushing since last year to a so-called legislative sandbox for tokenization when she served as commissioner under the former administration, and when she took over as acting chairman, she announced the pursuit of a pilot program on stableecoin-supported tokenization. – Jesse Hamilton Read more.
- The US Ministry of Finance is pushing forward with a narrow comment window on its preliminary, formal efforts to solidify the newly established StableCOin law into a set of rules. This arm of President Donald Trump’s administration has opened what is known as a “pre -announcement of the proposed decision -making process”, which is an early step taken to collect information that will be used to put together an actual proposal. In this case, the government asks for data on building its requirements in accordance with the guidance and establishment of the National Innovation for the US StableCoins ACT (Genius) ACT, including prohibitions on issuers, sanctioning obligations, anti-money-whale of compliance, the balance between state and federal supervision, tax affairs and any further need from industry for clarity. A period of one month is now open, where the public and cryptic businesses can weigh on these complex questions before it closes on October 20th. The message sent dozens of questions such as “Is further clarity necessary as to the extent to which spare assets are required or should be kept in custody?” and “Are there foreign payment stableCOin -regulation or supervisory regimes or regimes in development that may be comparable to the regime established under the Genius Act?” – Jesse Hamilton Read more.
Calendar
- 22-28. September: Korea Blockchain Week, Seoul
- 1-2 October: Token2049, Singapore
- 13-15 October: Digital Asset Summit, London
- 16.-17. October: European Blockchain Convention, Barcelona
- November 17-22: DevConnect, Buenos Aires
- 11-13. December: Solana Breakpoint, Abu Dhabi
- 10-12. February 2026: Consensus, Hong Kong
- 30 March-A-APR. 2: ETHCC, Cannes
- 5-7 May 2026: Consensus, Miami
