🔷 Ethereum L2 Blast shuts down as costs outpace revenue Blast, an Ethereum Layer 2 network that once held $2.3 billion in crypto assets, is shutting down. The team announced operating costs now exceed the revenue the network generates and said there is no credible path to economic sustainability. Users have been asked to withdraw their assets to Ethereum mainnet before October 26. Assets on the network have since plunged roughly 98% from peak levels, with activity fading as larger platforms including Coinbase and Robinhood built competing L2 networks. Blast launched in early 2024 and was fo

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⚖️ US Sanctions $17B Russia-Linked Crypto Network Tied to USDT The US Treasury's Office of Foreign Assets Control (OFAC) has sanctioned a Russia-linked crypto payment network valued at $17 billion, with Tether's USDT identified as a key tool used to move funds outside the reach of existing restrictions. OFAC's October 1 designation extends blocking sanctions to the broader network. Separately, the Financial Crimes Enforcement Network (FinCEN) has proposed a sub-agent transfer restriction targeting the same network — though that measure remains in the proposal stage and has not yet taken effe