Ethereum Merge Cut Electricity Use by 99% - Cambridge Report

Cambridge Centre for Alternative Finance Research Lead Alexander Neumüller joins Gareth Jenkinson on The Starting Block to discuss the recent Cambridge report finding that Ethereum’s Merge cut electricity consumption by 99%, the geographical centralization risks in Ethereum’s node distribution, and the fundamental security differences between proof-of-work and proof-of-stake networks. Senior Country Director for Coinbase UK Keith Grose also joined Gareth for the day’s Market Pulse, where he discussed Coinbase UK’s new MiFID licence to offer derivatives and equities trading, retail crypto appetite in the UK market, and the legacy of departing Coinbase CLO Paul Grewal.

OUTLINE
03:15 – Show Intro & Overview
04:56 – Coinbase CLO Departure
06:19 – Polymarket Eyes Leverage
07:03 – MARA’s Texas Campus
07:47 – CFTC Standoff & Crypto Bills
08:28 – Gauntlet’s $125M Raise
09:08 – Revolut X & AI Agents
13:04 – Coinbase UK Derivatives Licence
17:00 – UK Crypto Market Landscape
25:37 – Ethereum’s 99% Energy Drop
30:46 – Node Centralisation Risks
40:44 – PoW vs PoS Security

Alexander Neumüller –
Cambridge Centre for Alternative Finance –
Keith Grose –
Coinbase UK –

Gareth Jenkinson –
The Block –
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