dydx, a major player in the Ethereum ecosystem, is jumping ship to build its fourth version in another blockchain ecosystem linked to Cosmos.
Why it matters: Ethereum is the world's second biggest blockchain and is home to all the blue chip decentralized finance (DeFi) protocols. The fact that dydx, one of DeFi's blue chip applications, is jumping ship to Cosmos is a major win for that ecosystem.
Driving the news: Biden spoke Wednesday afternoon of how the gas tax holidays were one part of his plan along with the federal tax holiday waiving the federal 18.4 cents per gallon tax and the 24-cent diesel tax.
The surge in gas prices — and the Biden administration's proposed fuel tax holiday — illustrates how much we're still vulnerable to higher fuel costs despite the emergence of an increasingly popular alternative.
Why it matters: Electric vehicles eliminate the need for gasoline — but most people still don’t own one and can’t afford one.
Federal Reserve chair Jerome Powell told lawmakers on Wednesday that a U.S. recession is a "possibility" as it plots an aggressive interest rate hike campaign to contain prices that are rising at their fastest clip in over 40 years.
Why it matters: Fears of a recession have grown among some market watchers and economists as the Fed signaled it will be more aggressive in slowing down the economy in an effort to get inflation under control.
Americans are deeply unhappy about the price of gasoline, and for good reason. Every fill-up offers consumers sticker shock, and fuel prices are driving up overall inflation both directly and indirectly, as $5 per gallon of gas increases the cost of transporting almost everything.
But the wave of frustration is creating some incoherent economic policy thinking in Washington, D.C., and in many state capitals.
The U.S. dollar will feature the signatures of two women for the first time after President Biden announced Tuesday that he intends to appoint Marilynn Malerba as U.S. treasurer.
Driving the news: Treasury Secretary Janet Yellen sat for her official currency signing in March 2021, but federal rules dictate that her signature cannot appear on the dollar until a treasurer is in place so that both signatures can be added to a new series of currency at the same time, per the New York Times.
Thoma Bravo this morning completedits $10.4 billion take-private acquisition of Anaplan, a San Francisco-based provider of business planning and performance management software.
Why it matters: The buyout was valued at $10.7 billion when first announced in March, or $66 per share vs. the $63.75 per share that the private equity firm ultimately paid. And that repricing has opened a lot of dealmaker eyes, given that it comes against the backdrop of plummeting tech valuations.
Veza, an enterprise cybersecurity startup focused on cloud permissions and access management, tells Axios it raised $5 million in new Series C funding from Blackstone at around a $500 million valuation.
Why it matters: Many of the most devastating hacks, like the Colonial Pipeline ransomware attack, are born of one employee having amassed access to more data and systems than they require.
The real estate market is slowing down, but that doesn't mean home prices are getting more affordable — yet. Actually, prices and rents are still going up.
Why it matters: Perhaps you thought that the real estate market was all about location, location, location. Well, it's actually also about supply, supply, supply. The U.S. doesn't have enough homes to meet demand — even now, as fewer people want to buy in the face of rising mortgage rates.
The Great Resignation is seeping into the corner office, with 70% of C-level executives telling Deloitte pollsters that they seriously might resign for a job that better supports their well-being.
Why it matters: If the boss who sets the rules is feeling burned out, it's no surprise that many of the rank and file are also restive.
