The community is buzzing with excitement over Ethereum’s Dencun upgrade, and Fuel Labs’ CEO told Cointelegraph that the upgrade’s biggest benefit would be greater stabilization rather than a reduction in fees. Dogecoin saw a nearly 10% jump after Elon Musk hinted that Tesla could add the memecoin as an official payment method. Meanwhile, Crypto.com was fined $3 million by Dutch authorities for operating without a license.
Fuel Labs CEO: Dencun Upgrade Focuses on Fee Stabilization, Not Reduction
Amidst the anticipation of transaction fee reduction for layer-2 scaling networks, Nick Dodson, the co-founder and CEO of Fuel Labs, highlighted to Cointelegraph that the primary benefit of Ethereum’s Dencun upgrade is fee stabilization rather than a direct reduction. “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 explained. Dodson emphasized that the upgrade’s goal is to stabilize fees for the network’s expansion to accommodate millions of new users, with future upgrades expected to further lower layer-2 fees.
Elon Musk Hints at Dogecoin Payment for Tesla Cars
Elon Musk hinted at the possibility of Tesla accepting Dogecoin (DOGE) as a payment method for its cars “at some point.” During an interaction with the public at the Berlin Gigafactory on March 13, Musk responded positively to an audience member’s question about using DOGE to buy Teslas in the future. This news sparked enthusiasm among investors, leading to a 9.3% surge in Dogecoin’s market price, from $0.172 to $0.188. Musk also reiterated his support for Dogecoin, stating, “Dogecoin to the moon,” and reminded the audience that they could already use DOGE to purchase Tesla merchandise.
Crypto.com Fined by Dutch Central Bank
The Dutch central bank, De Nederlandsche Bank (DNB), revealed that it fined digital asset exchange Crypto.com for operating without registration. The fine, totaling 2.85 million euros ($3 million), was imposed on Oct. 23, 2023, but the enforcement action was only reported on March 13. Crypto.com had operated in the Netherlands without registration for over two years, during which time it had a “significant number” of customers. The lack of registration prevented the exchange’s parent company from reporting unusual transactions to the Financial Intelligence Unit-Netherlands. However, Crypto.com received approval from DNB in July 2023.
