Many DAOs and Web3 Projects Are ‘Decentralization Theater’: Tezos Co-Founder
Tezos Co-Founder Kathleen Breitman says many Decentralized Autonomous Organizations remind her of middle school. “The way I see most of these DAOs fail, it’s like they basically act as a really crappy school project,” she said. “When I was in middle school, I was always the person who wound up doing the work in the school project, so I'm very sensitive to this dynamic,” Breitman said a DAO can quickly devolve into one member taking a larger stake in the decision-making process than their peers, and warned against putting people in a position of power that gives them the authority to overrule decisions once members of a DAO have weighed in. (Decrypt)
Markets: Bitcoin Back Above US$17,000, Ether Gains Along with Other Top 10 Crypto
Bitcoin traded above US$17,000 Monday morning in Asia, with all the top 10 non-stablecoin cryptocurrencies by market cap gaining ground. Investors see inflation fears easing in the U.S., the world’s biggest economy, while China has started to relax Covid-19 restrictions in many cities, raising expectations the world’s second-biggest economy will get back on the growth track after GDP slowed this year to around 3% from a target of 5.5%. (forkast)
Despite Endless Media Appearances, SBF Unlikely to Testify on 13th
Bankman-Fried was responding to a Dec. 2 tweet from U.S. Representative Maxine Waters inviting him to testify in a scheduled U.S. House Committee on Financial Services hearing on Dec. 13 to discuss "what happened" at FTX. In a Dec. 4 response on Twitter, the former FTX CEO said he feels it is his “duty to appear before the committee and explain,” but only once he's “finished learning and reviewing what happened," adding he wasn't “sure” whether it would happen by the 13th. (Cointelegraph)
Demand for Cryptocurrency Miners Rises in Russia Amid Low Prices of Hardware
The sales of mining hardware retailer Chilkoot in the first two months of Q4 exceeded those for the entire third quarter.
What Is Crypto Winter and Why Does It Matter?
Crypto winter refers to crypto prices falling and staying low for an extended period of time.
Nobel Prize Laureate Paul Krugman Warns of an Eternal Winter for Blockchain
This crypto winter might bring a complete abandonment of blockchain and crypto tech.
Indian Crypto Association Seeks Relief From High Taxes
As budget consultations are going on, the crypto advocacy group is lobbying to secure concessions from the unfriendly taxes.
Blockchain-Based Digital ID Market Could Grow by More Than $3 Billion by 2025
Blockchain-based digital IDs have seen significant growth over time. Different bodies, from the EU to Pacific Islands, have showcased support. The blockchain identity market can grow a further $3.58 billion by 2025 at a compounded annual growth rate of 71%.
Alameda Bet Big on Crypto Miner Genesis Before Sector Implosion
One of the bigger questions surrounding the collapse of Sam Bankman-Fried’s crypto empire is what venture investments his trading firm Alameda Research poured billions of dollars in.
Crypto.com App Suspends BEP-20 Deposits with BNB Chain
Crypto.com DeFi wallet has suspended access to BNB Chain deposits. The suspension includes all BEP-20 tokens, including BNB, BUSD, and more.
