The CEO of crypto’s largest Decentralized Autonomous Organization (DAO) governance platform says the Biden administration was better for his industry than its successor — and is shutting down his company to prove the point.

Tally, which powered on-chain governance for Arbitrum, Uniswap, ENS, and more than 500 other DAOs, will wind down operations after six years, CEO Dennison Bertram announced today in a blog post.

Crypto protocols are governed not by executives or boards, but by decentralized autonomous organizations, or DAOs, where token holders vote on everything from fee structures to software upgrades.

In practice, participation is often low and decision-making slow, leaving a small group of active voters to steer billion-dollar…