Vitalik Proposes Replacing Ethereum’s EVM with RISC-V

Ethereum co-founder Vitalik Buterin has proposed replacing the Ethereum Virtual Machine (EVM) with the open-source RISC-V architecture to scale the network’s execution layer. In a new Ethereum Magicians forum post, Buterin called the idea “radical” but potentially the “only viable path” for dramatically improving efficiency.

The switch to RISC-V, commonly used in modern chip design, could make proving smart contract execution up to 100 times faster under zero-knowledge systems. “Old-style EVM contracts will continue to work and will be fully two-way interoperable with new-style RISC-V contracts,” Buterin wrote.

Buterin outlined multiple transition options, including dual support for EVM and RISC-V, or translating EVM logic into RISC-V interpreter contracts to streamline Ethereum’s execution layer. He argued the current EVM introduces unnecessary complexity and proving overhead that will bottleneck future scalability.

Other projects like Polkadot have explored similar RISC-V integration, though Ethereum's adoption would mark the boldest shift yet in mainstream blockchain design. “If we want to 100x total prover efficiency, there’s no getting around the fact that we need to at least 50x EVM prover efficiency,” Vitalik said.

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Galaxy Proposes Flexible Solana Voting Mechanism

Galaxy Research has proposed a new system called MESA to replace binary voting on Solana inflation policies, aiming to better reflect community preferences. The initiative follows the failed SIMD-228 proposal, which introduced a dynamic deflationary model but was defeated despite high turnout. MESA allows validators to vote across a range of options, with the final decision determined by a weighted average.

The approach is intended to reduce polarization and improve governance by offering a spectrum of choices rather than “yes/no” binaries. Critics, including Anza economist Max Resnick, worry voters may game the system by voting at extremes to skew results. Still, Resnick and other developers agreed that giving voters more nuanced options could result in fairer, less divisive outcomes for Solana’s future tokenomics.

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Kraken Debuts Leveraged Forex Perpetuals for Traders

Crypto exchange Kraken has launched perpetual futures contracts for the GBP/USD and EUR/USD trading pairs on its Kraken Pro platform. The new derivatives allow up to 20x leverage and are part of Kraken’s broader strategy to expand into traditional asset markets. The offering is currently restricted to users in eligible jurisdictions, excluding the EU and UK.

Kraken’s Head of Derivatives Alexia Theodorou said the launch builds on Kraken’s leading FX spot volume within the crypto industry. This follows Kraken’s $1.5 billion acquisition of futures platform NinjaTrader, reflecting a push toward offering comprehensive trading services. More forex pairs are expected in the future as Kraken diversifies its product lineup beyond crypto.

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Slovenia Eyes 25% Crypto Gains Tax in 2026

Slovenia’s Finance Ministry has proposed a 25% tax on crypto capital gains to begin in 2026, targeting profits made from selling crypto for fiat or purchases. The bill, now open to public feedback, excludes crypto-to-crypto trades and internal wallet transfers from taxation. Taxpayers would need to track transactions and submit annual returns under the proposed rules.

Finance Minister Klemen Boštjančič defended the move as a step toward fairer taxation of speculative instruments. However, opposition lawmaker Jernej Vrtovec warned it could drive innovation and capital abroad. Slovenia has the eurozone’s highest crypto ownership rate, and critics argue the new policy could derail the country’s potential as a crypto-friendly hub.

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Data of the Day

Hyperliquid has now captured nearly 70% of the decentralized perpetual futures market, signaling a shift away from centralized exchanges. The protocol processed $175 billion in trading volume in March and has already surpassed $83 billion in April. By comparison, Hyperliquid now handles nearly 10% of Binance’s perp volume, a remarkable rise from early 2024.

Perpetual contracts offer traders the flexibility of futures without expirations, and Hyperliquid’s smart contract-based execution is attracting sophisticated market participants. Its success reflects the growing appeal of non-custodial trading tools amid ongoing concerns about centralized exchange risks. Competitors like GMX and Vertex Edge have held steady, but none match Hyperliquid’s sudden growth and network effects.

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More Breaking News

• Trump’s meme coin rose 8% after a massive 40M token unlock added sell pressure, yet still defied expectations amid political controversy and trading volume spikes.
• Coinbase slammed Oregon’s new lawsuit as a politically motivated copycat case, defending its crypto offerings and accusing the state of clinging to outdated enforcement strategies.
• Aptos network devs proposed reducing staking rewards from 7% to 3.79% over three months to drive participation in higher-risk, utility onchain projects and revenue models.
• Privacy-focused exchange eXch will shut down May 1 after discovering an international investigation accusing it of laundering ETH for North Korea’s Lazarus Group via Bybit funds.
• Brazilian court sentenced the mastermind of the $190M Braiscompany crypto fraud to 128 years, one of the harshest penalties ever handed down for financial crimes.
• Canary Capital submitted an SEC filing for a first-of-its-kind Tron ETF with built-in staking rewards, joining its broader push to list altcoin and NFT crypto funds.
• Charles Schwab CEO Rick Wurster confirmed that spot crypto trading will likely launch within 12 months, citing a regulatory shift and soaring client demand across age groups.
• Synthetix’s stablecoin sUSD fell to $0.66 as liquidity dried up post-debt model overhaul, raising serious concerns about the protocol’s design, peg defense, and future viability.

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