Tally said its platform served more than one million users, supporting governance across hundreds of organizations and processing over $1 billion in payments. Decentralized autonomous organization (DAO) governance platform Tally is shutting down after five years of operations, citing a lack of sustainable business models for governance tooling in the crypto market. Tally co-founder and CEO Dennison Bertram said the company will begin winding down at the end of March. He added that the company is not moving forward with a planned initial coin offering (ICO), concluding that it could not confidently deliver on the expectations that would come with selling tokens to investors. Tally’s closure comes despite years of activity on its platform, which supported governance for hundreds of organizations and processed more than $1 billion in payments, according to Bertram. At its peak, the company said it helped secure up to $80 billion in value and served more than 1 million users. Read more
Bitcoin price traded at $74,000 as investors braced for Jerome Powell’s post-FOMC speech that could see volatile swings toward key BTC price levels. Bitcoin (BTC) traded at $74,000 on Wednesday, 2.6% below its six-week high of $76,000 reached on Tuesday, as traders brace for volatility following the US interest rate decision. Key takeaways: The odds of the US Federal Reserve leaving interest rates unchanged today are 100%. Read more
Ethereum’s FCR aims to reduce bridge times by up to 98%, bringing L1-to-L2 and exchange deposits down to 13 seconds without a hard fork. Ethereum client teams are testing an opt-in fast confirmation mechanism that could cut the time some layer-2 networks and exchanges wait to recognize mainnet deposits to about 13 seconds. The proposed Fast Confirmation Rule (FCR) would reduce “deposit time from Ethereum L1 to L2s or exchanges to about 13 seconds, an 80-98% reduction for most L2s and exchanges,” Ethereum researcher Julian Ma wrote on X. Most users today rely on canonical bridges, where transfers typically wait for multiple block confirmations or full finality, a process that can take around 13 minutes. However, many exchanges and L2s do not wait for finality, instead relying on “k-deep” confirmation rules, which offer no formal guarantees. In k-deep confirmation, a transaction is considered finalized only after k blocks (with k being a specific number). Read more