Welcome to The Protocol, CoinDesk’s weekly round-up of essential cryptocurrency tech developments. We’re Margaux Nijkerk and Sam Kessler, part of CoinDesk’s Tech team.

In this issue:

• Privacy Issues Resurfacing Among Ethereum Developers: In March, the U.S. lifted sanctions on Tornado Cash, which fanned the flames of a debate around privacy and censorship in cryptocurrency. Notably, Ethereum developers are once again exploring the need for default privacy features on the network. “Privacy must not be an optional feature that users must consciously enable — it must be the default state of the network,” emphasizes developer PCaversaccio.

• Nvidia’s Shift in AI Supercomputer Production: Nvidia has announced that its next generation of AI supercomputers will be manufactured entirely in the U.S., which aligns with growing demands for AI infrastructure and could spell new roles for crypto miners who have facilities suited for AI needs.

• Optimum’s Funding Success: Optimum, a startup focusing on decentralized memory layers for blockchain, has completed an $11 million seed round led by 1kx to help optimize data transactions.

• Noble’s Latest Development: Blockchain Nobl announced “AppLayer,” a platform that enables developers to build applications for real-world asset transactions, leveraging Celestia for improved efficiency.

In Other News

• Mantra’s OM token price has plummeted dramatically, prompting CEO John Mullin to propose burning team tokens to restore community trust.
• Janover, a fintech specializing in commercial real estate, has significantly increased its investment in Solana (SOL), now holding over $21 million.
• DWF Labs is expanding its influence in the U.S. market with a notable investment in World Liberty Financial (WLFI), a project linked to former President Donald Trump’s family.

Regulatory Updates

The SEC has delayed critical decisions regarding the approval of new spot crypto ETFs, affecting funds from WisdomTree, VanEck, and Grayscale. Meanwhile, OKX is preparing to broaden its operations in the U.S. with a new headquarters.

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