Welcome to The Protocol, CoinDesk’s weekly wrap-up of the most important stories in cryptocurrency tech development.

In this issue:

• Ethereum’s Holesky Testnet Finalizes – Finally
• Starknet to Settle on both Bitcoin and Ethereum
• From Ethereum’s Engine Room to Wall Street: Danny Ryan’s New Mission
• Japanese Tech Giants Sony and LINE Join Forces

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Network News

ETHEREUM HOLESKY TESTNET FINALIZES - FINALLY: Ethereum’s Holesky testnet achieved finality nearly two weeks after the Pectra upgrade, resolving a client software issue that had prevented finality since February 24. This milestone was reached as Ethereum developers postponed a decision on when Pectra would go live on the mainnet blockchain.

STARKNET TO SETTLE ON BITCOIN AND ETHEREUM: Starknet, in collaboration with the BTC wallet Xverse, aims to deliver a complete DeFi experience to Bitcoin users. The integration with Starknet is scheduled for Q2 2025.

FROM ETHEREUM’S ENGINE ROOM TO WALL STREET: Danny Ryan, after his time with the Ethereum Foundation, has taken on a new mission to bring Ethereum to Wall Street through his role at Etherealize. He believes in the potential beyond just the foundation’s direct influence on Ethereum’s future.

JAPANESE TECH GIANTS SONY AND LINE JOIN FORCES: Sony’s blockchain unit is integrating with LINE to transfer popular applications onto the Soeneium network with the goal of bridging Web2 users into the Web3 realm.

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In Other News

• The U.S. House of Representatives has passed a measure against imposing information collection rules on decentralized entities, marking a victory for the DeFi sector.
• There has been a delay in approvals for new crypto ETFs in the U.S. as the Senate is yet to schedule a hearing for the confirmation of the new agency head.
• The OCC has announced that federally regulated banks can now engage in various cryptocurrency activities without needing prior approval.