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Pi Network’s token has surged 86% in value, reflecting strong market interest despite ongoing controversies.
Quick Take This is an excerpt from the 22nd edition of The Funding sent to our subscribers on Feb. 23. The Funding is a fortnightly newsletter written by Yogita Khatri, The Block’s longest-serving editorial member. To subscribe to the free newsletter, click here.
Quick Take A recent proposal by the Arbitrum DAO’s recently-appointed Growth Management Committee has sparked backlash after recommending that 7,500 ETH be deployed to Lido, Aave, and Fluid, three decentralized finance protocols not native to Arbitrum. The proposal argues the selected protocols “represent safe applications that achieve conservative yield and strongly support ecosystem growth,” while critics argue the move signals that Arbitrum-native protocols are inferior. Should the proposal fail, the co
- 09:47US Treasury Accepts Venmo and PayPal Donations to Help Repay Massive National DebtAccording to a report by Jinse Finance, citing US media, Americans can now donate to the Treasury to help pay down the national debt via Venmo and PayPal if they wish. Over the past 29 years, Americans have donated a total of $67.3 million, which has had virtually no impact on the current $36.7 trillion national debt. On Wednesday, an NPR reporter posted a screenshot on X showing a page on the Treasury Department’s official website where donations to the national debt program can be made through Venmo and PayPal. According to Axios, the maximum single donation allowed via Venmo is $999,999.99. Even at this amount, one would need to donate every 18 seconds just to keep up with the pace of the national debt’s growth. It is currently unclear when the Venmo and PayPal donation options were added to the website.
- 09:36Bitcoin Cash (BCH) Breaks Through $580, Analysts Bullish on $680According to ChainCatcher, citing CoinDesk, the price of Bitcoin Cash (BCH) has surpassed $580, marking a 24-hour increase of 5.25%, a weekly gain of 10.5%, and a monthly rise of 17.3%. Analysts note that BCH has broken through a long-term resistance level, and if the current trend continues, it could further climb to the $620–$680 range. Technical analysis indicates that BCH has established support zones at $556–$558 and $568–$570, with short-term resistance near $585. Trading volume saw a significant surge on July 27, reaching a daily peak of 120,748 units, reflecting strong buying activity in the market.
- 09:31Pudong Artificial Intelligence Seed Fund Officially Launched with a Total Scale of 2 Billion YuanAccording to Jinse Finance, at the 2025 Pudong New Area Global Promotion Conference for the Artificial Intelligence Industry Ecosystem held on July 27, the Pudong Artificial Intelligence Seed Fund was officially launched. The fund has a total size of 2 billion yuan, with the first phase amounting to 500 million yuan. It is a state-owned venture capital fund focused on the seed round stage, dedicated to investing in innovative talent and cutting-edge technologies. (CCTV News)