Optimism is an Ethereum Layer 2 solution that utilizes optimistic rollup technology. It drastically reduces costs and transaction times while preserving the benefits of Ethereum's security.
ether.fi announced that its migration to the OP mainnet is complete. Currently, more than 70,000 active cards, over 300,000 accounts, and a total value locked (TVL) exceeding $220 million are live on Optimism.
Crypto journalist Eleanor Terrett reported that the financial disclosures of Federal Reserve Chair nominee Walsh reveal early-stage investments held via employment-related investment vehicles. These investments span a broad range of areas, including several crypto infrastructure projects—namely Compound (a decentralized lending protocol), Optimism and Blast (Ethereum Layer 2 networks), and Solana—as well as trading infrastructure, crypto investment firms, and platforms in artificial intelligence and biotechnology. The positions appear relatively small in size, illiquid, and have generated no reportable income, suggesting they represent indirect, venture-capital-style exposure rather than direct, tradable liquid assets.
According to CoinDesk, Ethereum Layer-2 network Scroll suffered a significant capital outflow following the migration of top decentralized application Ether.fi to Optimism, resulting in a decline of approximately $160 million in total value locked (TVL) and an estimated $13 million annualized fee loss. Scroll announced plans to propose dissolving its Decentralized Security Council and reducing DAO membership to lower operational costs, with network control transitioning to its internal team. Additionally, shortly after the protocol migration, Scroll temporarily increased its network gas fees by 1,280x, causing users to overpay more than $50,000 in transaction fees; fees have since returned to normal. Following this adjustment, Scroll’s TVL dropped to approximately $23 million. The official statement confirmed that all contract changes will remain transparent and verifiable on-chain.