Morning Edition · Thursday, July 9, 2026
Ethereum Researchers Warn Block Builders Can Quietly Steal Searchers' Trades
Under proposer-builder separation, a single builder sees every bundle before assembling a block and can replicate a profitable one instead of honoring it.
A new Ethereum Research post argues that proposer-builder separation (PBS), the design that splits the job of ordering transactions from the job of proposing blocks, carries an incentive flaw that the system does not currently constrain. Un…
Continue the Crypto Intelligence Brief
Track on-chain flows, protocol shifts, stablecoins, and regulation.
- 5 crypto intelligence signals a day
- Tracked crypto trends, day over day
- Stablecoin and regulatory movement
- Source-grounded analysis with confidence labels
The Global Intelligence Brief stays free.
Part of a tracked trend
MEV Supply Chain Concentrates
The economics of proposer-builder separation keep pushing block construction toward a few integrated builders, making maximal-extractable-value capture a recurring threat to Ethereum's censorship resistance.
More from this edition
- Clarity Act Enters Four-Week Window as CFTC's Selig Presses Senate Before August Recess
- BNB Chain Plans a New Layer-1 Built for Automated Trading and AI Agents
- Privacy Networks Aztec and Miden Detail Live Confidential-Execution Designs
- Summer.fi Vault Loses About $6 Million as 2026 DeFi Theft Tally Passes $840 Million
- Norway-Led Operation Arrests 28 Who Paid in Monero, Citing a New Tracing Method
- Adam Back's Bitcoin Treasury Firm Scraps Its SPAC Merger and Seeks New Terms
- Dinari and tZERO Build a Turnkey Platform for Tokenized US Stocks
- Bitcoin Mining Splits Into a Two-Tier Market as Pool Power Consolidates
- Polymarket Turns On Instant Bitcoin Deposits Over the Lightning Network
- Crypto Investor Paradigm Raises $1.2 Billion for an AI and Robotics Fund
- Nexo Launches a Crypto Card in Argentina as Latin America Adoption Deepens