Coinbase engineering vice president Jesse Pollak pushed back against criticism that the company is selling large amounts of ether, saying its overall holdings and contributions to the Ethereum ecosystem should be considered. The debate centres on fees earned in ether by Base, Coinbase’s layer-2 network, and claims those proceeds are converted into other assets. Data cited in the report estimate Coinbase holds about 151,180 ETH, valued at about $256 million.

Asset manager Grayscale has begun procedures to launch a spot exchange-traded fund based on the Worldcoin token, WLD. It filed a registration statement with the U.S. Securities and Exchange Commission for the Grayscale Worldcoin ETF, which would track a CoinDesk benchmark rate and list on Nasdaq under the symbol GWLD. The filing details custody and administration partners and flags regulatory risks, token volatility and ownership concentration.