Decentralized

Bipartisan Efforts to Ban Stock Trading by Congress Members

Friday. July 12 at 1:30 PM

1 min. read

A bipartisan group of US senators is pushing for legislation to prohibit members of Congress from trading stocks. The senators proposed amending the Stop Trading on Congressional Knowledge Act of 2012 to prevent lawmakers from engaging in stock trading. They emphasized that Congress should not profit from exclusive information, highlighting instances where members outperformed the market. The proposed changes include a ban on trading within 90 days of the bill's enactment and restrictions on the president, vice president, and family members. Violators would face fines based on the asset's value. The senators stressed the need to restore public trust in democratic institutions and prioritize constituents over personal gain. The move follows revelations of profitable trades by top lawmakers, sparking calls for stricter regulations. The initiative aims to address unethical behavior and promote transparency in government.

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Restructuring at dYdX Trading

Wednesday. October 30 at 6:00 PM

dYdX Trading, the company behind the decentralized crypto exchange, has downsized its workforce by 35%, following the return of CEO Antonio Juliano. Juliano hinted at the necessity for a new direction for the company. This move coincides with Consensys, the firm behind MetaMask, reducing its staff by 20% to enhance organizational agility. Juliano emphasized the need to rejuvenate the company upon resuming his role as CEO, acknowledging the challenges faced in a competitive market. dYdX Trading, known for dYdX Chain, a Cosmos SDK-based blockchain, offers dYdX v4, a popular perpetual futures exchange. The company faced difficulties, including a DNS attack on its exchange domain and discussions regarding the sale of derivative trading software. The recent layoffs align with Bitcoin's surge towards all-time highs, reflecting a period of change and adaptation in the crypto industry.

Decentralized

Decentralized Connectivity Milestone

Wednesday. October 30 at 4:30 PM

Uplink has achieved a significant milestone with 40,000 routers, indicating growth potential for decentralized wireless networks. The decentralized connectivity system, Uplink, aims to establish more cost-effective networks for WiFi, 5G, and other cellular technologies globally. This achievement highlights the rising demand for decentralized internet infrastructure, showcasing Uplink's commitment to reducing internet service costs for end-users by over 50%. By integrating existing and new wireless infrastructure into its ecosystem, Uplink is paving the way for mass adoption. The company's mission aligns with the broader trend of decentralized physical infrastructure networks, offering users the opportunity to contribute to the network and earn passive income. With the goal of capturing 5% of the expanding DePIN industry, Uplink envisions a future where global internet access is transformed through practical and scalable solutions.

Decentralized

Consensys Restructuring for Decentralization

Tuesday. October 29 at 9:00 PM

Blockchain development company Consensys has initiated a significant restructuring, reducing its workforce by over 20%. Ethereum co-founder and Consensys CEO Joe Lubin confirmed that 162 employees have been affected by the changes. The company aims to streamline operations and accelerate efforts to decentralize its core business offerings. Lubin highlighted the importance of long-term financial sustainability amidst potential economic volatility as a key factor driving the restructuring. Consensys plans to become a smaller, more agile organization to leverage its extensive capabilities effectively. The company, known for products like MetaMask and Linea, is committed to supporting affected employees with generous severance packages and extended benefits. Despite ongoing legal battles with the SEC, Consensys remains focused on decentralization. Lubin emphasized the company's commitment to transforming its Ethereum products into protocols in the long run.

Decentralized

Trump's Lead in Blockchain Betting Market Grows

Monday. October 28 at 9:00 PM

Former US President Donald Trump's lead in the top blockchain-based betting market is close to 67%, with a mysterious whale betting on his victory in the upcoming presidential election. Trump's odds of winning surpassed 66.3% on Oct. 28, thanks to a Polymarket whale investing $2 million in pro-Trump bets. The whale has spent a total of $7.22 million on 'Yes' shares. Decentralized prediction markets are seen as offering more accurate predictions than traditional polling systems, according to Elon Musk. The Polymarket odds shifted in Trump's favor on Oct. 4, with the mysterious whale 'zxgngl' holding over 11.2 million 'Yes' votes worth $7.5 million. Another top bettor, 'Fredi9999,' has also boosted Trump's odds above 60.2%. The upcoming US elections have driven a significant increase in betting volume on prediction markets, rising over 565.4% in the third quarter to $3.1 billion.

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