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Gnosis Chain will end its independent L1 operation in the spring of 2027, becoming the first general-purpose Zone of EEZ

According to official news, Gnosis Chain will end its independent L1 operation in the spring of 2027 and join the Ethereum Economic Zone (EEZ), becoming the first general-purpose Zone for settlement to Ethereum.Gnosis Chain will migrate its on-chain state through a hard fork, with contracts, balances, addresses, chain ID, and Gas token xDAI remaining unchanged, and developers will not need to redeploy. Gnosis co-founder Friederike Ernst stated in the article that due to the inability to achieve fast block times, composability with Ethereum, and decentralized ordering all at once, Gnosis chose the first two. Therefore, the current validator set of about 200,000 independent validators will not be retained after the migration. She also revealed that the cost of operating Gnosis Chain as an independent L1 by Gnosis DAO is between 7 million to 10 million dollars per year.In addition, the Devnet Rollup X of EEZ has launched its testnet today at the Mumbai Devcon, completing several demonstrations: CoW Swap completed exchanges within a single transaction on Rollup X using liquidity from the Ethereum mainnet; Safe achieved atomic ownership changes between L1 and L2; Rollup X completed Falcon post-quantum signature verification and made it available for mainnet calls, reducing mainnet Gas consumption from about 5.5 million to approximately 495,000, a decrease of about 91%. Rollup X is still a test network, and the core protocol is undergoing independent security audits. EEZ is a Swiss non-profit organization co-funded by the Ethereum Foundation.Previously, Gnosis co-founder Friederike Ernst and Zisk founder Jordi Baylina collaborated to launch the Ethereum Economic Zone (EEZ) framework, aimed at addressing issues such as liquidity fragmentation caused by L2 fragmentation.

Fortune: WLFI may become the first target of the investigation into the Trump family's cryptocurrency business

The Democratic Party has regained control of both the House and Senate in the U.S. midterm elections. According to Fortune magazine, California Congressman Robert Garcia, who will serve as the chair of the House Oversight Committee in the new Congress, stated in a statement and on X to "Lawyer up." Reports indicate that the Trump family's cryptocurrency company World Liberty Financial (WLFI) may become the first business to be investigated.Robert Garcia previously stated that the committee will focus on investigating "Trump family corruption," which includes Trump's cryptocurrency business, which Fortune claims has generated over $1 billion in revenue for Trump. With the Democratic Party controlling the committee, they will have subpoena power to compel the government, private companies, and individuals to provide documents and testimony.The Democrats have previously focused on a member of the UAE royal family known as the "spy chief," who is set to acquire shares in World Liberty Financial for $500 million in 2025. The company is currently applying for a national banking license that requires approval from an agency under the U.S. Department of the Treasury. House Democrats had previously called on U.S. Treasury Secretary Janet Yellen to investigate the transaction and indicated they would review Trump's pardon of Binance co-founder Changpeng Zhao, who reportedly assisted the Trump family in launching a stablecoin. Robert Garcia stated that acting Attorney General Todd Blanche and other government officials may face subpoenas on the first day of the Democratic majority's tenure; corporate donors to the White House banquet hall project and businesses that have dealings with the Trump family are also expected to be among the first subjects of investigation, with related inquiries potentially starting as early as February 2027. White House spokesperson Lauren Bis stated in an interview with Newsweek before the election that the only agenda for the Democrats is to continue their decade-long "witch hunt" against Trump.

first_img Former Senator Sherrod Brown defeated Jon Husted, crypto PAC Fairshake faced setbacks

Former Democratic Senator Sherrod Brown defeated incumbent Republican Senator Jon Husted in the Ohio Senate seat race, reclaiming the Senate seat, which poses a setback for the cryptocurrency political action committee Fairshake. Earlier this year, Fairshake invested $30 million in the Ohio campaign, explicitly targeting Brown. The crypto PAC and the broader cryptocurrency industry played a significant role in the 2024 elections, spending millions to influence political outcomes.This is not the first time Fairshake has funded efforts against Brown. Brown previously served as the chairman of the Senate Banking Committee, leading the cryptocurrency-related agenda and calling for action against the use of cryptocurrencies to fund terrorism and evade sanctions. In 2024, Fairshake invested $12 million to support pro-crypto Republican Bernie Moreno in challenging Brown, successfully defeating him. With the Democrats regaining control of the Senate, Brown may become the chairman of the Senate Agriculture Committee, which has jurisdiction over digital assets and prediction markets. Sources previously told The Block that if Brown takes the position, he is unlikely to push for any cryptocurrency legislation.Husted received support from the cryptocurrency advocacy group Stand With Crypto, having voted in favor of several cryptocurrency bills, including the broad cryptocurrency legislation "Clarity Act," and received an A rating from the organization, while Brown was rated F. Other candidates supported by Stand With Crypto include New Hampshire Democrat Chris Pappas, who won his campaign. Additionally, Democratic Senators Cory Booker and Mark Warner both successfully secured re-election, both of whom were involved in cryptocurrency legislative negotiations. Texas Democratic Senate candidate James Talarico received an A rating for his previous pro-crypto statements and voting to support the establishment of a strategic Bitcoin reserve in the state, defeating Texas Attorney General Ken Paxton on Tuesday.
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