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With the community abuzz with excitement over Ethereum’s Dencun upgrade, the CEO of Fuel Labs told Cointelegraph that the biggest benefit will be greater stabilization, rather than a lowering of fees. Dogecoin jumped nearly 10% after Elon Musk hinted his electric car manufacturer could add Dogecoin (DOGE) as an official payment method for Tesla cars. Meanwhile, Crypto.com was fined $3 million by Dutch authorities for operating without a license.
Dencun is about fee stabilization, not reduction says Fuel founder
While most people were focusing on the promised transaction fee reduction for layer-2 scaling networks, the most significant benefit of the upgrade is actually fee stabilization, Nick Dodson, the co-founder and CEO of Fuel Labs, told Cointelegraph in an exclusive interview.
“On the point of EIP-4844, a lot of people talk about the fee reduction, but it’s more about fee stabilization. It’s actually more about expanding capacity and scale and not so much lowering fees,” he said.
The Dencun upgrade’s fee reduction for L2s is a huge bonus for the industry, but the main benefit is related to the network’s mass scalability and stabilizing the current fees for the next millions of new users, according to Dodson. He added that this increased network capacity will further lower layer-2 fees with future upgrades.
Elon Musk: Dogecoin will used to buy Teslas ’at some point’
Tesla CEO Elon Musk has hinted his electric-car manufacturer could add Dogecoin (DOGE) as an official payment method for Tesla cars “at some point”.
On March 13, Musk was interacting with the public at the Berlin Gigafactory, a Tesla manufacturing plant, wherein an audience member asked if Tesla can be bought using DOGE in the near future. Musk responded positively to the request:
“At some point I think we should enable that.”
Musk’s response sparked enthusiasm among investors as the market price of the token witnessed a sudden surge. Dogecoin reacted by jumping from $0.172 to $0.188 at the time of writing, marking a 9.3% as the video gains traction on X.
Musk reminded the audience that they can still use DOGE to buy Tesla merchandise and showed support for the altcoin by reiterating “Dogecoin to the moon.”
Crypto.com fined by Dutch central bank
Digital asset exchange Crypto.com was fined in The Netherlands for operating without registration, the central bank revealed on March 13.
Dutch central bank De Nederlandsche Bank (DNB) fined the crypto exchange 2.85 million euros ($3 million) on Oct. 23, 2023, but only reported the enforcement actions on March 13. The exchange was said to have operated in the country without registration for over two years.
Over that period, Crypto.com had a “significant number” of customers, and its parent company “was unable to report unusual transactions to the Financial Intelligence Unit-Netherlands during the period of non-compliance” due to its lack of registration.
Crypto.com eventually received approval from DNB in July 2023.
Crypto.com currently ranks as the 14th largest digital asset exchange by volume, according to CoinMarketCap data.
Source: Cointelegraph.com
