Decentralized economy isn't always that decentralized

went offline because of a tech issue at AWS, showing how the decentralized economy isn't always that decentralized. Shaurya Malwa reported the news early.

Several major cryptocurrency exchanges went offline on Monday, causing widespread disruption in trading and sparking discussion on the implications for decentralization, an angle highlighted early by Shaurya Malwa.

The exchange downtime coincided with a tech issue at Amazon Web Services (AWS), which powers many crypto platforms.

Meanwhile, crypto traders saw green on Monday morning as Nvidia reported a steeper-than-expected decline in second-quarter revenue, a development that could impact crypto mining activity, Omkar Godbole reported.

Nvidia, a key chipmaker for cryptocurrency miners, saw its stock slide in pre-market trading as the company, known for its graphics processing units (GPUs), reported a 9% drop in total revenue from the previous quarter.

Explanations varied (the company said it was due to “force liquidations” exchanges).

Coinbase rolled out a “slashing” feature meant to address security concerns (Sam Kessler reported). OKX, a major exchange, announced plans to set up in California following a $500 million settlement with the SEC over claims it operated previously in the U.S. without a money transmitter license. Cheyenne Ligon had that story.

And Coinbase became embroiled in a “front running controversy” linked to a curiously named token on its Base L2. Privacy advocates reacted with rumors that Binance was about to delist Zcash following a long decline in the value of privacy coins.