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first_img Gemini founder's PAC invested $81,000 in advertising to support Paxton's campaign for Texas Senator

The super political action committee Digital Freedom Fund, initiated by Gemini co-founders Cameron Winklevoss and Tyler Winklevoss in 2025, submitted documents to the Federal Election Commission on Tuesday, reporting for the first time advertising expenses exceeding $81,000 to support Republican candidate Ken Paxton's campaign for the Texas Senate seat, while opposing Democratic candidate James Talarico. Early voting in Texas began on October 19, with Election Day on November 3.As of September 30, the PAC has raised approximately $34 million, and its expenditures are not limited to Texas. Documents show its involvement in the Ohio Senate race between Republican candidate Jon Husted and Democratic candidate Sherrod Brown, bringing its total support for Husted to about $7 million. Another crypto industry PAC, Fairshake, also reported over $13 million in direct mail advertising expenditures this week, with approximately $9 million supporting Husted and over $4 million opposing independent candidate Dan Osborn in the Nebraska Senate election.These expenditures indicate potential support for candidates who favor crypto policies and legislation. Prediction contracts from Kalshi and Polymarket suggest that Democrats are favored to regain majority control of the House and Senate by 2027, and the majority party in both chambers will influence the legislative process for bills like the Digital Asset Market Structure Act, which failed to pass procedural voting in the Senate last month. Paxton previously defeated incumbent Senator John Cornyn in the May Republican primary, receiving over $500,000 in advertising support from the Fellowship PAC, backed by Anchorage Digital and Cantor Fitzgerald, with the funds executed through the Nxum Group co-founded by Bo Hines.

first_img Jensen Huang: neocloud demand is extremely high, but capital is insufficient

NVIDIA CEO Jensen Huang stated during an interview with CNBC reporter Arjun Kharpal at the GTC conference in Berlin on Thursday that the demand for neocloud is extremely high and its capabilities are extraordinary, but insufficient working capital is restricting growth. He mentioned that there is huge demand in multiple fields of artificial intelligence, and the capital demand far exceeds supply, a problem that will be resolved.Jensen Huang indicated that electricity is the main constraint on the expansion of artificial intelligence, with European electricity prices being higher. He believes that allocating scarce energy to companies like Nebius and Mistral is crucial for their growth. Investment can enter Europe, but local infrastructure must be established first; if European neocloud can build infrastructure locally, the artificial intelligence ecosystem and economy can start and remain in Europe. He added that the whole of Europe still needs more neocloud.NVIDIA is conducting media activities in Europe this month and has committed nearly $10 billion in investments to local companies, universities, and research institutions. Jensen Huang announced last week during his visit to London that the company has invested over $1 billion in five UK startups and is also investing in several French startups. He stated that NVIDIA is trying to kickstart the artificial intelligence economy in Europe, which has a wealth of technology, industrial experience, and research capabilities, and is ready to participate in and build a local artificial intelligence economy.

first_img The Cardano Foundation urges the European Union not to extend MiCA regulations to DeFi and staking

The Cardano Foundation calls on the European Union not to introduce new independent regulatory rules for DeFi and staking, advocating that existing financial laws should regulate based on the function and risk of activities rather than the technology used. The foundation outlined its 19-page opinion submitted to the European Commission on September 30 in a blog post released on Wednesday, urging a distinction between direct participation in decentralized networks and financial services provided by intermediaries, especially those involving the custody or control of user assets. The foundation stated that regulation should follow the substance of the activity, the functions performed, and the risks generated, rather than the technology relied upon to conduct the activity.The foundation pointed out that Cardano users can delegate native ADA tokens to help secure the network without relinquishing custody or locking up tokens, and this form of direct participation should be treated differently from staking services operated by intermediaries. The opinion also calls for a clearer distinction between the EU MiCA regulations and existing financial laws, warning that overlapping regulatory requirements and inconsistent interpretations among member states could create uncertainty for crypto businesses.This move comes as EU regulators consider expanding oversight of crypto services. In September, the European Securities and Markets Authority suggested adding additional safeguards for staking and lending activities and establishing a new category of regulated services for companies providing access to DeFi protocols. Additionally, the Cardano Foundation, along with five other blockchain organizations, sent a joint letter to the U.S. Securities and Exchange Commission on October 20, urging it to formally recognize digital commodities as non-securities under the proposed crypto framework.
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