Solana Set for Major Upgrade as Jito Unveils New Block Builder

Hi! In today’s edition:

• 🛠️ Solana gets a Jito-powered transaction makeover

• 🧯 Trump’s media arm goes all-in on bitcoin

• 👀 Polymarket finds its way back to U.S. users

• 💼 BitGo quietly preps to go public

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Jito Reveals Largest-Ever Upgrade to Solana Block Building 

Jito, a leading provider of maximal extractable value (MEV) and block-building infrastructure on Solana, has introduced a major upgrade to how the network processes transactions.

“Introducing BAM: The Block Assembly Marketplace that revolutionizes how Solana processes transactions,” wrote Jito on X, sharing details of the upgrade being dubbed the “biggest change in Solana history.”

BAM routes transactions through a network of nodes, rather than a single offchain auction system, to enhance efficiency and transparency while reducing the risks of toxic MEV practices like sandwich attacks

Transactions will be ordered and transmitted privately through trusted execution environments (TEEs), ensuring security and privacy until execution and providing on-chain attestations for auditability.

Jito earned around $570 million in tips paid to validators and stakers in the first half of 2025, according to Solana researcher Kam Benbrik. 

“More than 90% of the validator set uses Jito, they have a monopoly and could have simply stopped there, but they didn’t,” he said on X. 

“Instead they decided to fundamentally change the architecture.”

SOL was on a tear Monday, jumping to an intraday high of $204 before easing to $198 by 6 a.m. ET on Tuesday.

Trump Media Makes $2 Billion Bitcoin Bet 

Trump Media and Technology Group, the company founded by President Donald Trump and parent of Truth Social, announced on Monday that it has acquired approximately $2 billion in bitcoin and bitcoin-related securities as part of its crypto treasury strategy.

This latest acquisition comprises about two-thirds of the company’s $3 billion in liquid assets.

The move came shortly after Trump signed the pro-stablecoin Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act into law and followed the passage of other crypto-related bills in the U.S. House of Representatives.

Trump Media indicated plans to keep acquiring bitcoin and possibly convert options into spot bitcoin, depending on market conditions, and has set aside $300 million of additional capital towards this strategy.

Shares in Trump Media, which trade under the ticker DJT, gained 3% after the announcement. 

Polymarket Could Return to U.S. Market After $112M Acquisition 

Crypto prediction platform Polymarket is preparing to re-enter the U.S. market after being blocked for several years due to regulatory issues.

Bloomberg reported that Polymarket’s return will be enabled by its $112 million acquisition of QCX, a U.S.-licensed derivatives exchange and clearinghouse that holds the necessary Commodity Futures Trading Commission (CFTC) license to operate in the U.S.

Polymarket had previously agreed in 2022 to block U.S. users as part of a CFTC settlement over unregistered binary options trading. 

Subsequent investigations by the CFTC and Department of Justice into whether it continued to allow U.S. users have now been closed, clearing the legal path for its reentry.

BitGo Files Confidentially for IPO

Major crypto custody provider BitGo has confidentially filed for an initial public offering (IPO) in the U.S.

The company submitted its draft registration statement, or Form S-1, to the U.S. Securities and Exchange Commission (SEC) on Monday, but has yet to disclose the number of shares or the expected price range for the offering.

BitGo’s decision comes amid a surge in the wider crypto market, which surpassed $4 trillion in market capitalization. It also aligns with recent moves from crypto firms like Grayscale, Gemini, Circle, and Bullish, seeking out public listing this year.

BitGo recently topped $100 billion in assets under custody, up from $60 billion at the beginning of 2025. The Palo Alto-based firm most recently raised $100 million in August 2023 at a $1.75 billion valuation.

• ⚖️ Lawyers for Tornado Cash developer Roman Storm suggested they may seek a mistrial, arguing the prosecution hasn’t clearly linked the protocol to the crimes described by its witnesses.

• 📡 Coinwatch unveiled a tool that lets crypto projects track what their market makers are doing in real time, aiming to fix the industry’s long-standing lack of transparency around trading activity.

• 💰 CoinDCX, which lost $44 million in a targeted exploit on an internal account, is now offering up to 25% of recovered funds to those who help trace or retrieve the stolen assets.

• 🚀 Tron founder Justin Sun is finally set to board a Blue Origin spaceflight, four years after paying $28 million for the seat during the rocket’s first ticket auction.

• 🏦 JPMorgan is weighing whether to let clients borrow cash against their crypto holdings like bitcoin and ether, marking a potential policy shift as the bank cautiously expands its digital asset services.

• 💱 Western Union is exploring how to let users buy, sell, and store stablecoins in its app, following new U.S. legislation that sets national rules for dollar-pegged digital assets.

• 🏦 StablecoinX plans to go public via a SPAC merger and raise $360 million to build a locked ENA token treasury, giving stock investors indirect exposure to Ethena’s digital dollar ecosystem.

• 🔶 Mexican real estate firm Grupo Murano plans to shift $1 billion into bitcoin, aiming to reduce debt and hedge against inflation while building a $10 billion BTC treasury over five years.

• 🐕 Bit Origin acquired over 40 million dogecoin as it begins deploying a planned $500 million memecoin treasury, citing rising interest in DOGE as a tool for micropayments.

• 📈 GameSquare boosted its Ethereum holdings to over $38 million and launched an NFT-based yield strategy, becoming one of the first public firms to use Ethereum-native assets for onchain returns.

• 💹 Strategy announced plans to offer 5 million shares of a new preferred stock series, with proceeds earmarked for more bitcoin purchases and general corporate use, pending market conditions.

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