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A new working paper from the European Central Bank examined four major protocols and found that a small number of actors control the bulk of governance token holdings.A European Central Bank working paper challenges the notion that decentralized autonomous organizations (DAOs) deliver on their promise of distributed governance, finding that token holdings and voting power across four major DeFi protocols are heavily concentrated among a handful of actors.The study examined governance structures at Aave, MakerDAO, Ampleforth, and Uniswap using data from late 2022 and mid-2023. The researchers analyzed the top 100 token holders and top 20 voters for each protocol,…

In brief Massachusetts Democrat Seth Moulton has banned all congressional office staff from trading on prediction markets like Polymarket and Kalshi. The move comes as bipartisan lawmakers introduce the PREDICT Act, which would extend similar restrictions to senior government officials Prediction market analyst Dustin Gouker says many other congressional offices are likely to follow suit. A prediction market analyst says more congressional offices will likely follow Massachusetts Democrat Seth Moulton’s (D-MA) lead after he became one of the first members of Congress to ban his staff from trading on platforms like Polymarket and Kalshi.Effective Wednesday, Rep. Moulton’s office-wide policy prohibits…

US lawmakers have introduced a bill aiming to ban members of the US Congress, the president and other high-ranking government officials from wagering on prediction markets.The proposed bill, a bipartisan effort from US Representative Adrian Smith and Representative Nikki Budzinski, was introduced on Tuesday and is called the Preventing Real-time Exploitation and Deceptive Insider Congressional Trading Act (PREDICT Act).”In recent months, we’ve seen instances of little-known traders making massive profits on events ranging from war with Iran to how long a government shutdown will last, raising necessary questions about the use of inside information,” Budzinski said.The move comes amid growing…

What do you call a market that consistently shrugs off headlines that usually send it tumbling? You call it resilient with a strong underlying demand support.That’s the bitcoin story in recent weeks, as it the cryptocurrency held firm around $70,000 even as the Iran war rages, oil prices surge, and Fed rate-cut bets evaporate. This kind of defiance screams bullishness.But hang on, some key indicators are still heading the wrong way, throwing a wrench into that bullish interpretation.The first indicator is the Coinbase Premium, which measures the price difference between bitcoin on Coinbase, a Nasdaq-listed Exchange, and on the offshore…

A closer look at some of the most important developments around Ripple and XRP’s price action. Over the past few days, Ripple (XRP) has been at the forefront of a few important developments. These range from news about its institutional adoption, exchange updates, ETF flows, and ongoing price uncertainty. The following is a concise breakdown of the latest news shaping XRP’s broader outlook. Expansion in Asia: RLUSD and Faster Settlements Ripple is expanding its presence in Asia by testing its RLUSD stablecoin to improve cross-border settlement efficiency. The company is joining BLOOM – the sandbox environment of the Monetary Authority…

The market’s second-largest cryptocurrency, Ethereum (ETH), surged nearly 3% on Wednesday, extending a short-term recovery that has brought the altcoin to the key $2,160 level.  Market analyst Ali Martinez flagged the move as part of a potentially significant shift in Ethereum’s technical outlook, writing on social media platform X (previously Twitter) that price action is showing “signs of a major trend shift from bearish to bullish.” On‑Chain Signals Strengthen Breakout Case Martinez pointed to the altcoin’s weekly chart, where Ethereum appears to be tracing an ascending triangle formation. He noted that ETH’s bounce to $1,800 on February 26 lined up…

Dogecoin corrected some gains from the $0.0980 zone against the US Dollar. DOGE is now holding the $0.0940 support and might aim for a fresh increase. DOGE price started a fresh downside correction below $0.0955. The price is trading above the $0.0940 level and the 100-hourly simple moving average. There was a break below a bullish trend line with support at $0.0952 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could aim for a fresh increase if it remains stable above $0.0928. Dogecoin Price Trims Gains Dogecoin price started a downside correction after it…

Well-timed trades ahead of a U.S. policy shift have come under scrutiny on Polymarket and highlight differences in how insider trading is handled across marketsPrediction markets tied to a potential Iran ceasefire are drawing renewed scrutiny after traders positioned for de-escalation ahead of a market-moving shift in U.S. policy, raising fresh questions about whether insider trading may be playing a role.The activity has focused attention on Polymarket’s international platform, where markets tied to war can trade freely and where recent trading patterns have pointed to the possibility that some participants had an informational advantage.At the same time, similar timing questions…

A busy week lies ahead on the US economic calendar as markets continue to reel from the war in the Middle East and global fuel shortages.  Crypto markets are back in the red this Monday morning in Asia as fear, uncertainty, and doubt return to the space. Additionally, US stock market futures have fallen at the open as markets react to President Trump’s “48-hour deadline” for Iran to open the Strait of Hormuz. The week ahead includes key inflation and labor market data releases, and there is now discussion of potential interest rate increases amid the threat of higher inflation…

In brief House lawmakers will examine tokenization as key market players push ahead with early efforts to bring securities on-chain. The hearing will feature Wall Street, market infrastructure, and crypto industry witnesses. Observers expect the hearing to offer an early read on Congress’s approach as harder legal issues remain open. The House Financial Services Committee will examine tokenization on Wednesday as exchanges, market operators, and regulators push ahead with early efforts to bring stocks, bonds, and other securities products onto blockchain-based rails.Committee materials show a narrower focus for Wednesday’s hearing, however. One bill would require a joint SEC-CFTC study of…