The CEO of CoinMarketCap presented her resignation letter along with 4 other important executives of the company. On the other hand, Tether plans to integrate support for ZK-Rollups to address the current congestion of the Ethereum network and its high fees. This and more news in this handy daily summary so you are always informed with those most recent events that happen within the crypto world.
📍The executive train CoinMarketCap, the best-known and most used platform for monitoring the prices and capitalization of cryptocurrencies, presented its resigns massively after the company was acquired by Binance, a popular exchange of cryptocurrencies. They have submitted their resignation from their now ex-CEO, Carylyne Chan, to the head of events and projects, Jared Chin. Although the reasons that caused the resignation of these executives are not entirely clear, many are already beginning to speculate that the replacement of these executives with the exchange's own personnel may favor Binance's position.
📍Tether is studying the possibility of adding support for ZK-Rollups to minimize congestion on the network Ethereum. The CTO of Tether, Paolo Ardoino, reported that ZK-Rollups zero-knowledge proofs can help Ethereum suffer from less congestion, by allowing a group of transactions to be compressed within a single transaction.
📍ETH price exceeds $476 USD per unit. With an increase of more than 9%, the value of the cryptocurrency exceeded the maximum reached in 2 years, and it also has a capitalization stock market value of 53 billion dollars as of the date of this publication. It is estimated that the increase in the value of Ethereum is due to the new perspectives and positive projections about Ethereum 2.0, after Vitalik Buterin, co-founder of ethereum, stated that the technical failures presented by the update are not as serious as they appeared.
📍For his part, Buterin warned on his Twitter account that the coins and token usage that are used in decentralized finance ecosystems (DeFi) are very similar to the irresponsible monetary policies of the Federal Reserve. In this sense, Buterin stated that the constant inflation in several of the governance tokens of the DeFi protocols for the famous yield farming or yield farming is similar to the excessive printing of money by the FED.
Likewise, a user on Twitter responded to Buterin's comments stating that yield farming protocols are a giant Ponzi scheme model that will explode at some point.
📍In the United Arab Emirates, the DMCC (Dubai Multi Commodities Center) launched a platform based on blockchain which will facilitate trade and supply of agricultural products from India to the UAE. Called Agriota E-MarketplaceThe new digital marketplace will facilitate trade processes between millions of Indian farmers and the UAE’s food industry, providing transparency and efficiency in every process. At the same time, this new digital marketplace will allow producers to connect directly with the food industry, eliminating the need for middlemen and optimizing the supply chain to minimize costs.
📍In Australia, several major commercial banks are implementing blockchain technology to digitize bank guarantees, to minimize the time it takes for these processes. The digitalization of guarantees will be the responsibility of the company Lygon, which is being founded by Australia and New Zealand Banking Group Limited, Commonwealth Bank of Australia y Westpac Banking Corporation, three of the most important banks in the country along with Scentre Group e IBM.
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