Ethereum's `Merge' Upgrade Is Complete

Blockchain network Ethereum has completed its long-awaited software upgrade, according to co-founder Vitalik Buterin. Called the Merge, it replaced power-hungry computers that were used to order transactions on the network with a more energy-efficient setup using piles of the network’s native token, Ether, placed in special, so-called staking wallets. As a result, Ethereum’s energy consumption will decline by an estimated 99%. Coinshares head of research James Butterfill discusses the impact of the change on “Bloomberg Surveillance Early Edition.”