Today in crypto, an Ethereum developer has proposed changes that would double Ethereum block speed as part of the Glamsterdam update in 2026. A new bill introduced in the US Congress seeks to ban public officials from profiting off digital assets and despite rising tensions in the Middle East, global crypto funds shrugged off market volatility, with investors pouring over $1 billion into crypto products last week.

Ethereum dev floats halving slot times to 6 secs, doubling blocks

An Ethereum developer has issued a proposal that suggests cutting the network’s block time in half — from 12 seconds to six seconds — with the aim of improving transaction confirmation time and user experience.

Ethereum Improvement Proposal 7782, discussed on June 21 by core developer BarnabĂ© Monnot, suggests cutting the slot time — how often new blocks are created — to six seconds by adjusting the timing of various blockchain operations.

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Source: Everstake

“Shorter slot times make the confirmation service better, and so have the potential to raise the service price beyond where it is today,” Monnot explained, referring to the economic value that the network can capture for providing its core service as a settlement and confirmation layer.

The developer is seeking for the proposal, originally created in October 2024, to be included in the Glamsterdam update scheduled in late 2026. “By then, we will have done a lot of healthy scaling” and likely reached blocks with three times the current gas limit and eight times the blob supply, he added. 

Democratic senator introduces bill to address Trump’s crypto ties

California Senator Adam Schiff and nine other Democratic lawmakers have introduced legislation to prevent what they called “financial exploitation of digital assets” by the US president and other public officials.

In a Monday announcement, Schiff and several Democratic senators said they had introduced the Curbing Officials’ Income and Nondisclosure, or COIN, Act, in response to US President Donald Trump’s connections to the cryptocurrency industry. The proposed legislation followed Trump’s disclosure of $57.4 million in income tied to World Liberty Financial (WLF), the crypto platform backed by members of his family.

“President Donald Trump’s cryptocurrency dealings have raised significant ethical, legal and constitutional concerns over his use of the office of the presidency to enrich himself and his family,” said Schiff. “That’s why I am introducing legislation to prevent the financial exploitation of any digital assets by public officials, including the president and the First Family.”

Members of Congress have previously attempted to push through legislation barring certain elected officials, including presidents and their families, from investing in stocks and other assets while in office. However, Schiff’s proposed bill could extend a prohibition on issuing, sponsoring or endorsing cryptocurrencies, memecoins, non-fungible tokens and stablecoins “180 days prior to and 2 years after” an individual’s time in office.

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Source: Senator Adam Schiff

Crypto funds post $1.2 billion inflows despite market panic: CoinShares

Cryptocurrency investment products continued to attract strong investor interest last week despite major crypto assets like Bitcoin and Ether posting notable price drops.

Global crypto exchange-traded products (ETPs) recorded $1.24 billion of inflows for the trading week ending Friday, CoinShares reported on Monday.

With the latest inflows, crypto ETPs continued breaking year-to-date (YTD) inflow records, setting a new historic high at $15.1 billion, said CoinShares’ head of research, James Butterfill.

Despite continued inflows, total assets under management (AUM) in crypto ETPs edged down from $179 billion in the previous week to $176.3 billion by the end of last week.

Bitcoin ETPs saw a second consecutive week of inflows, totalling $1.1 billion, despite BTC prices dropping from around $108,800 on June 16 to $103,000 by the end of the week, according to CoinGecko.

The resisting growth in the Bitcoin ETP dynamics despite the spot price decline indicated that investors were buying on weakness, CoinShares’ Butterfill suggested.

Crypto ETP flows by asset as of Friday (in millions of US dollars). Source: CoinShares

“This sentiment was further supported by minor outflows from short-Bitcoin products, which totalled $1.4 million,” he added.

Ether ETPs recorded their ninth consecutive week of inflows, netting $124 million last week and bringing the inflow run’s total to $2.2 billion.

“This marks the longest run of inflows since mid-2021, reflecting continued robust investor sentiment toward the asset,” Butterfill noted.