Circle Internet Financial and the Crypto and Blockchain Economics Research (CBER) Forum have awarded the first CBER-Circle Insight Award, which includes a 10,000 USDC prize, to the paper titled "Flash Boys 2.0: Frontrunning, Transaction Reordering, and Consensus Instability in Decentralized Exchanges." This scholarly work, authored by Philip Daian and colleagues, addresses significant issues in blockchain technology, particularly concerning the role of arbitrage bots and consensus mechanisms, and has inspired various projects aimed at enhancing blockchain architectures. The paper was selected by a committee of esteemed academics and will be recognized at the CBER Conference at Columbia University. Circle, known for its digital financial innovations like USDC and EUROC, emphasizes the importance of groundbreaking research in shaping the future of finance and web3.