October 17, 2025
The last 24 hours were a pretty news heavy 24 hours, from a well-known Ethereum player getting into the Solana game to some regulatory chatter to a couple notable fundraising announcements.
Welcome to the Meridian Update, your daily on-chain report. We’re live from our new site. Looks pretty much the same as the old one, right?
Speaking of not the same as the old one
At least one person has called Uniswap the “most EVM-opinionated dapp.” Let’s define our terms. The Uniswap Protocol is an “automated market maker.” You might have heard of a decentralized exchange. That’s Uniswap. Ethereum Virtual Machine is the full form of EVM. You can think of it as the computer of the Ethereum Network, which we’ve discussed here on the Meridian Update before. Finally, decentralized application is the full form of dApp. It’s a fancy way of saying an application is built on a blockchain network like the Ethereum network.
Anyway, if you had asked us about Uniswap last week, which we are now calling the old Uniswap, we would’ve said it is, you know, for Ethereum trades. But not anymore. The new Uniswap trading interface is not the same as the old Uniswap trading interface. It now does Solana:
“Solana is now live on the Uniswap Web App :unicorn_face:
(Yes, you read that right)”
Big stuff! Another way to buy SOL, the native token of Solana This one is an on-chain way to buy SOL. From a very Ethereum-focused company. Something to keep an eye on.
Time to SEC what’s happening in regulatory
It’s been a few days since we’ve covered regulatory happenings here on the Meridian Update. That’s about the maximum length of time a self-respecting daily on-chain report should go without covering regulatory happenings.
The Securities and Exchange Commission’s (SEC) Crypto Task Force was supposed to host a “Roundtable on Financial Surveillance and Privacy” later today. It got postponed because the US government is still shut down. Meanwhile, the Meridian Update continues to publish. Amazing stuff.
The shut down did not stop SEC Commissioner Hester Peirce from delivering a “Regulator’s View on Privacy” in a fireside chat at the DC Privacy Summit. Crypto Twitter liked the regulator’s view (head to 1:08:00 for the full fireside chat). To paraphrase, she said nice things about privacy and called asset tokenization a “key focus area” for the SEC.
Some fundraising announcements, why not
We usually keep the Meridian Update to two main stories. But it’s Friday, what the heck. We’ll share some links and you can do with them what you want.
The morning started with Jito’s announcement:
“NEWS: @a16zcrypto has made a $50M strategic investment in Jito!
With BAM live on mainnet, Jito's growing momentum across DeFi, and institutional adoption continuing to accelerate via JitoSol ETF's, things are just getting started.”
We’ve not talked about Jito before. Jito is a company that many people in the on-chain world know about. Likewise, a16z crypto is an investment firm that many people in the on-chain world know about.
And then another announcement:
“We’ve raised $75M to build the decentralized energy network powering the world’s most important commodity: electricity.
This funding helps us move faster toward an electric grid that delivers what the old one no longer can: affordability, reliability, and abundant power.”
We’ve talked about decentralized physical infrastructure networks (DePINs) before. Daylight has raised money to build a DePIN focused on electricity. This round of funding was led by Framework Ventures, an investment firm that many people in the on-chain world know about.
Some things to keep an eye on.
That’s a wrap
The last 24 hours were a pretty news heavy 24 hours, from a well-known Ethereum player getting into the Solana game to some regulatory chatter to a couple notable fundraising announcements.
Think we missed something today? Email email@meridianupdate.com.