Ethereum Researchers Resign from EigenLayer, Coinbase Wants SEC to Chill, Justin Sun to hire Gensler, Polymarket Whale Bags $20M

The market is green, Bitcoin hits an all-time high, and Donald Trump enters the White House again—doesn’t the world feel like an interesting place again? A whole lot more happened in the last seven days, and trust us to give you that rundown nice and digestible.

Top Gainers of the Week

• Neiro (NEIRO) is the top gainer this week, with its price at $0.002412 and a significant 58.48% increase over the past 7 days, accompanied by a 24-hour trading volume of $896,181,935. It was also the second top gainer last week.
• Cronos (CRO) takes the second spot among the top gainers, trading at $0.1133 with a 53.64% price increase in the last week and a 24-hour volume of $151,083,232.
• Raydium (RAY) rounds out the top 3 gainers, priced at $4.77 and showing a 39.82% growth over the past 7 days, with a 24-hour trading volume of $215,812,191.

Top Losers of the Week

• Kaia (KAIA) is the biggest loser this week, with its price at $0.1224 and a 11.95% decrease over the past 7 days, accompanied by a 24-hour trading volume of $20,716,638.
• MANTRA (OM) is the second-largest loser, trading at $1.39 with a 4.59% price decrease in the last week and a 24-hour volume of $40,292,983.
• Kaspa (KAS) completes the top 3 losers after being the second top loser last week. Priced at $0.1137 and showing a 4.49% decline over the past 7 days, Kaspa’s 24-hour trading volume is $122,192,551.

Ethereum Foundation Researchers Bullied Out of EigenLayer

Okay, you can’t call it “bully” if they resigned out of free will... but the pressure from the Ethereum community most likely qualifies as bullying. So here’s what happened: Justin Drake and Dankrad Feist are two Ethereum Foundation researchers that were poached by the EigenLayer team to take up advisory roles. 

These positions were announced back in May, with Drake saying he’ll be getting “millions of dollars” worth of EIGEN tokens, which would be vested over three years—a pretty good deal, by the way.

Feist also mentioned that he would be getting some token allocation but didn’t specify how much. 

Well, the Ethereum community wasn’t so happy about it and talked about “conflict of interest.” For instance, Lefteris Karapetsas, Rotkiapp’s founder, mentioned that “this is a clear as day conflict of interest of key decision makers of Ethereum protocol development and should absolutely not be tolerated.”

Other people also dropped their two cents about the issue, leading to both researchers formerly announcing their departure from EigenLayer on November 2nd.

Coinbase Wants SEC to Take a Chill Pill After Trump’s Victory

After Donald Trump snagged another term as President, Paul Grewal, the legal guru at Coinbase, is calling out the SEC to take a chill pill. To quote his tweet, Grewal wants the SEC to “stop suing crypto. Start talking to crypto.”

He’s not the only one who wants this—we all do, because we’re fed up with how things have been going under the current regime.

And the good part is that we may see some shakeup in the coming days. Remember Trump mentioned he’ll kick SEC Chair Gary Gensler to the curb on his first day back in office?

As per recent development, plans are already underway to replace the dude. While everyone’s been talking about "Crypto Mom" Hester Peirce stepping in, that isn’t a likely option yet. Though it’d have been nice to see, giving that she’s been pro-crypto from day one.

With Trump's win and this push for SEC reform, the crypto world might just be on the brink of some brighter days.

Justin Sun Wants to Hire Gary if he Chooses to ‘Repent’

Still on the SEC and Gensler’s future, Justin Sun, the guy behind Tron and the current Prime Minister of Liberland, has thrown out a wild card offer to SEC Chair Gary Gensler. 

Sun started by asking what would happen to Gensler now that Trump’s back in office. Then, he followed up with a tweet, saying he would hire the SEC boss if he just treats “the crypto industry with sincerity.”

Now, is Sun serious? Maybe, maybe not. It could be his way of poking fun at how the crypto community sees Gensler as Public Enemy No. 1. But it also opens up a chat about what's next for the SEC.

Polymarket Whales Bags $20M on Trump’s Victory

So, while everyone in America was lining up to vote, some Polymarket whales were busy waiting for the results. 

One massive whale on Polymarket, going by the name "Theo4", raked in a cool $20.4 million betting on a Trump win. 

But he wasn't alone. Another hefty bettor, "Fredi9999", pocketed over $15.6 million, and "zxgngl" wasn't far behind with more than $11 million in profits. 

These crypto whales really threw their weight around, pouring over $70.6 million in USDC into their Trump bets back in October. And with Trump being called the winner by the big shots like the Associated Press, it looks like these bets are about to cash out big time. 

Polymarket's market for this election doesn't close until all the news giants agree, but it's looking like these whales are already swimming in dough.

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