'Gensler and Biden were just better for crypto,' says Tally CEO as DAO governance platform shuts down

End of DAOs? Firm behind Uniswap and Arbitrum governance says easing regulation made decentralization optional What to know : Tally, a leading governance platform for more than 500 crypto DAOs including Uniswap and Arbitrum, is shutting down after six years as CEO Dennison Bertram says the regulatory and market forces that justified on-chain governance have faded. Bertram argues that the Biden-era SEC under Gary Gensler effectively forced decentralization through legal risk, but the Trump administration's more permissive stance has made DAO-style governance optional, undermining demand for tools like Tally. Tally's closure also reflects a broader industry consolidation and the failure of the "infinite garden" thesis, as crypto has not produced the vast ecosystem of consumer applications once envisioned and now competes with AI for top talent and attention.