Month: February 2023

CoinGecko and 21Shares propose global crypto classification standard

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Major cryptocurrency data aggregator CoinGecko and crypto investment firm 21Shares have joined forces to launch a global standard for classifying various types of cryptocurrencies. On Feb. 8, CoinGecko and 21Shares released The Global Crypto Classification Standard report, proposing a uniform method to categorize crypto assets. The effort aims to help investors and regulators better understand the specifics of each asset class in crypto, including potential failures like those seen by the industry in 2022. “Since Bitcoin’s inception around 13 years ago, thousands of unique crypto assets and protocols have emerged,…

Crypto VC Firm A16z’s Role in Uniswap Vote Sparks Debate Over Concentration of Voting Power

According to a tweet from Lazzarin, a16z’s head of engineering, “We delegate ~40m votes to outside groups (with no conditions on how they vote).” Lazzarin did not specify the full size of a16z’s UNI holdings and neither did the representative that spoke to CoinDesk. But based on Lazzarin’s tweets, a16z owns at least 55 million UNI altogether, counting the tokens it has delegated. The a16z representative told CoinDesk, moreover, that its agreements with delegates theoretically allow the firm to re-claim its delegated tokens should it so choose. Source

Musk’s Twitter Payment Vision in Tune With Fiat-Crypto Gateway Alchemy Pay – Sponsored Bitcoin News

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sponsored Elon Musk’s Twitter has fallen into revenue difficulties, hoping to find new sources of revenue outside the original $5 billion a year advertising business model. According to a recent Financial Times report, Musk is betting this ambition for revenue growth on the payments business. He has said he wants Twitter to become a “universal app” that combines information, payments and commerce. As part of the plan, Twitter intends to provide fintech services, such as peer-to-peer transactions, savings accounts and debit cards. Previously, Twitter has been testing the payment business…

Russia’s Gazprombank recommends slow CBDC rollout fearing loss of income

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Gazprombank, a subsidiary of the leading Russian government-owned gas company, Gazprom, publicly proposed giving banks more time before implementing the digital ruble. The country’s central bank digital currency (CBDC) project has been accelerating due to global financial sanctions amid geopolitical tensions.  As reported by local media on Feb. 7, Gazprombank, one of the 15 banks participating in the CBDC pilot, issued a public statement with a suggestion to proceed with caution regarding traditional banks’ interests: “It is imperative that banks take measures to mitigate potential losses. Hence, it is crucial to recognize…

Nigerian City of Lagos Among the World’s Top 20 Crypto Hub Cities — Study – Featured Bitcoin News

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According to the findings of a study by Recap, the crypto asset management firm, the Nigerian city of Lagos is ranked among the world’s top 20 crypto hub cities. Besides Lagos, five more African cities, namely the Angolan city of Luanda, Nigeria’s Ibadan, and three South African cities — Cape Town, Johannesburg and Pretoria — feature among the 50 top-ranked crypto hub cities. Lagos Among Cities With Most People ‘Working in Crypto-Based Jobs’ According to the findings of a recent study by Recap, a crypto asset management firm, the Nigerian…

Ethereum gas price spikes 29% in January as user activity grows: Report

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Stepping into 2023, the cryptocurrency market seemingly shrugged off the year-long bearish sentiment from 2022. As investors took notice, the long-awaited price corrections had a significant reaction, showcased through on-chain activities on the Ethereum blockchain. According to a data report from Analytex, Ethereum’s average gas price — calculated in terms of the smallest Ether (ETH) denomination, gwei — increased by 29.27% in January 2023. The report compares gas prices from January to December 2022, noting an increase in user activity as a key indicator for the rise in average gas price…

Cardano DEX SundaeSwap Floats First On-Chain Governance Proposal

“Until now, exactly how that governance should take place has been unclear,” the proposal description reads. “SundaeSwap Labs proposes that such governance use the auditable off-chain governance technology developed in-house, as well as a set of rules and procedures by which proposals for the future of the decentralized protocol can be considered, voted on, and adopted.” Original Source CardanoDEXFloatsGovernanceOnChainProposalSundaeSwap CryptoX Portal