Hope everyone had an enjoyable Memorial Day Weekend. The sun may be shining all across the US of A but dark clouds continue to linger over stocks and crypto while energy thunders on. If you need a handful of wise anecdotes to dispense around the campfire while roasting a weenie, you’ve come to the right place, dear friend. This is 3 And Out, let’s have at it.
#1 – Solana’s blockchain suffers yet another outage
At such frequency that you could set your watch to it, the Solana blockchain has witnessed another outage that halted new block production on Wednesday. Devs described the outage as lasting 4.5 hours before the mainnet was restarted and work on resuming client services could begin. Evidentially, something called a “durable transaction nonce” was the culprit, as a bug in this recently-added feature caused node outputs to differ and led to a consensus failure. For those keeping score at home, this is the 5th full or partial outage of the Solana ecosystem of 2022 so they’re batting about 1.000 on a monthly average. While these continued outages are disappointing, Solana and other Layer 1 blockchains have an opportunity to grab significant market share amidst the Terra Luna fiasco. Time will tell if Solana, Cardano, Avalanche, Cosmos, or others will capitalize on the moment. This tweet summed things up nicely:
— Ran NeuNer (@cryptomanran) June 1, 2022
#2 – Nate Chastain of OpenSea charged with insider trading by the US Department of Justice
The US DOJ has alleged that the former OpenSea employee flipped “dozens of NFTs” for profit by exploiting knowledge of which NFT projects were to be added to the OpenSea site ahead of time. These allegations represent one of the highest profile enforcement actions in the cryptocurrency industry to date and officially puts NFT promoters on notice. When OpenSea learned of Chastain’s alleged indiscretions, they opted to terminate his employment but the entire NFT space waits with baited breath about any possible regulatory crackdowns of what is notoriously a rough and tumble marketplace. Chastain was arrested this week in New York as we all await more details.
#3 – US House of Representatives Invite Roger Goodell and Commanders’ Owner Dan Synder To Testify
In the next evolution of the investigation into the Washington Commanders’ (formerly R*dskins) work culture launched by the House Oversight and Reform Committee in October 2021, Committee Chairwoman Carolyn Malone (D – NY) and Rep. Raja Krishnamoorthi (D – IL) have requested NFL Commissioner Roger Goodell and owner Dan Synder to appear before the committee on June 22. Dear readers will recall that this is the very same investigation that uncovered bigoted emails sent by former Las Vegas Raiders coach Jon Gruden with the then President of the Washington team Bruce Allen. The investigation has the stated goal to “uncover the truth about the culture of harassment and abuse at the Washington Commanders, to hold accountable those responsible, and to better protect workers across the country”. The NFL has yet to respond to the written request to appear but has indicated they will respond “in a timely manner.”
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