Report Overview - Trustware report provides further analysis [1] Actionable Insight - The report is available for download at the provided URL [1]

Financial Data and Key Metrics Changes - For Q2 2025, the company reported revenue of $700,000, down from $1,000,000 in Q2 2024, with a gross profit of $200,000, representing 30% of revenue compared to 28.5% in the previous year [35] - The net loss for Q2 2025 was $103,400,000, significantly higher than the $500,000 loss in Q2 2024, primarily due to an $87,800,000 non-cash impairment and $16,400,000 in stock-based compensation [36] - As of June 30, 2025, the company held 24,704 ETH valued at $61,500,000 and 164,731 LSEth valued at $382,400,000 after impairment [32][34] Business Line Data and Key Metrics Changes - The company is focusing on its Ethereum treasury strategy, which aims to accumulate and activate ETH to generate yield, moving beyond traditional holding strategies [22][24] - The affiliate marketing business continues to connect sports books and online casino operators with players, with plans to integrate blockchain technologies into its offerings [30] Market Data and Key Metrics Changes - The total market cap for stablecoins is approximately $240 billion, with projections suggesting it could reach $2 trillion by 2028 [12] - Tokenized securities are currently valued at around $25 billion, with expectations to grow to $16 trillion by 2030 [12] Company Strategy and Development Direction - The company aims to become the world's largest and most trusted Ethereum treasury company, leveraging its strategic relationships and institutional-grade principles [18][25] - The focus is on accumulating ETH and transforming it into a yield-generating asset through staking and participation in DeFi [22][24] - The company is positioned to benefit from the ongoing shift towards a digitized and decentralized economy, with increasing institutional interest in digital assets [15][16] Management's Comments on Operating Environment and Future Outlook - Management highlighted the significant growth potential for Ethereum, emphasizing its role as the backbone of decentralized finance and the increasing institutional adoption [10][69] - The sentiment within the Ethereum ecosystem is positive, with expectations for continued growth and scalability improvements [65][66] Other Important Information - The company has raised over $2.6 billion in investor capital since launching its treasury strategy on June 2, 2025, acquiring more than 700,000 units of ETH [26][27] - The company has a total of $6 billion in ATM capacity to facilitate ongoing capital raising efforts [27] Q&A Session Summary Question: Can you elaborate on the opportunity to activate ETH for yield generation? - The company aims to accumulate ETH long-term and activate it through various yield strategies, including native staking and DeFi participation, while managing risks effectively [40][42] Question: What is the valuation outlook for ETH by 2028? - The company believes ETH could reach valuations between $15,000 and $40,000 by 2028, driven by increased adoption and application development within the Ethereum ecosystem [43][46] Question: Are there other initiatives beyond the ETH treasury strategy? - The company is exploring additional revenue-generating opportunities that complement its existing affiliate marketing business and leverage its partnership with Consensus [49][52] Question: How does the treasury strategy differ from others in the market? - The company emphasizes its ability to generate yield alongside capital appreciation, differentiating itself from competitors by focusing on risk-managed strategies [56][59] Question: What key developments will ensure Ethereum maintains its market lead? - The company highlighted ongoing scalability improvements and institutional adoption as critical factors for Ethereum's sustained leadership in the blockchain space [64][69] Question: What is the approach to capital raising and debt management? - The company has primarily focused on equity raising but is exploring equity-linked securities and other structures to optimize capital efficiency [73][75] Question: How will treasury strategies evolve with increasing competition? - The company believes competition is beneficial and aims to be the most trusted and transparent player in the space, focusing on long-term value creation for shareholders [85][87]

RT Joseph Lubin (@ethereumJoseph)Wait, what?!? Rebrand? We have a new web site?Feels like everything is changing, accelerating. Hard to keep up with the rapid drumbeat of positive developments on Planet Ethereum.My MetaMask keeps changing with all these updates, new features, new fox personality, MM logo and hot new font.Linea didn't just announce its TGE, it totally changed the L2 game.My new frens at SBET just keep snarfling up millions of USD and using the capital to vacuum up giant piles of ETH. Every. ...

RT Joseph Lubin (@ethereumJoseph)Wait, what?!? Rebrand? We have a new web site?Feels like everything is changing, accelerating. Hard to keep up with the rapid drumbeat of positive developments on Planet Ethereum.My MetaMask keeps changing with all these updates, new features, new fox personality, MM logo and hot new font.Linea didn't just announce its TGE, it totally changed the L2 game.My new frens at SBET just keep snarfling up millions of USD and using the capital to vacuum up giant piles of ETH. Every. ...

Industry Trends & Recognition - Ethereum is recognized as a new kind of software, "Trustware," establishing ETH as the gold standard in decentralized trust [2] - Major financial institutions are heavily embracing Ethereum, indicating growing institutional interest and adoption [2] - Legislators and regulators are creating favorable conditions for Ethereum, potentially boosting its growth and acceptance [3] Company Developments & Strategy - ConsenSys is rebranding, reinforcing its identity as "The Ethereum Company" [3] - The company is experiencing rapid positive developments, including a new website and updated MetaMask features [1] Market Activity & Investment - SBET is actively investing millions of USD to acquire significant amounts of ETH [1]

Read our blog to learn how Ethereum is redefining digital trust through Trustware: https://t.co/LIcrzjwBOi ...

Core Idea - Trust is a fundamental element in commercial transactions [1] - Traditional methods of establishing trust are lagging behind in the digital age [1] - Trustware, exemplified by Ethereum, is transforming trust into programmable infrastructure [1] Technology & Innovation - Ethereum enables accessible, verifiable, and intermediary-free trust [1]

RT Joseph Lubin (@ethereumJoseph)The transition from analog to digital trust is well underway. Digital trust, available globally as Trustware, will serve as the bedrock for our global economic system, with Ethereum as its purest, deepest source.Read more in Consensys’ report here:https://t.co/wic2hUj2P9 ...

Digital Trust & Technology - Consensys releases an in-depth report on the rise of digital trust, called Trustware [1] - Trustware is defined as a technology layer for programmable, verifiable coordination in an increasingly online world [1] - The report highlights the shift towards verifiable code, eliminating paperwork and middlemen [1] Ethereum's Role - Ethereum is positioned as the base layer of the future global economy [1] - Ethereum is central to the development of Trustware [1]

Technology & Trust - The transition from analog to digital trust is well underway [1] - Digital trust, available globally as Trustware, will serve as the bedrock for our global economic system [1] - Ethereum is positioned as the purest, deepest source of digital trust [1]