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October 11, 2021updated 31 Jan 2022 10:08am

Twitter round-up: Brad Garlinghouse’s tweet on lack of clear framework on cryptocurrency from the US SEC the most popular tweet in Q3 2021

By GlobalData Technology

Verdict lists five of the most popular tweets on blockchain in Q3 2021 based on data from GlobalData’s Influencer Platform.

The top tweets were chosen from influencers as tracked by GlobalData’s Influencer Platform, which is based on a scientific process that works on pre-defined parameters. Influencers are selected after a deep analysis of the influencer’s relevance, network strength, engagement, and leading discussions on new and emerging trends.

The most popular tweets on blockchain in Q3 2021: Top five

1. Brad Garlinghouse’s tweet on the lack of clear framework on cryptocurrency from the US SEC

Brad Garlinghouse, CEO at Ripple, a blockchain-based payment solutions provider, shared a video of his interview on his company’s legal battle with the US Security and Exchange Commission (SEC) about its cryptocurrency XRP. The SEC previously ruled that XRP is a security rather than a cryptocurrency and should be registered and regulated as a security. In response, Ripple filed a motion against SEC asking the commission to reveal its internal policies that govern the rules for its employees trading and holding XRP.

The motion aimed at checking if SEC employees had previously traded in XRP and establishing that the SEC gave clearance to the cryptocurrency to be operated as a currency. Ripple’s motion was, however, denied but the judge on the case ordered the SEC to produce documents regarding the policies. Garlinghouse stated in the video that there is no clarity from the SEC regarding cryptocurrencies, which is holding back the industry from flourishing in the US.

Username: Brad Garlinghouse

Twitter handle: @bgarlinghouse

Likes: 6,248

Retweets: 1,633

2. CZ Binance’s tweet on BSC being the most used blockchain in Q2 2021

CZ Binance (Changpeng Zhao), CEO of cryptocurrency exchange company Binance, shared an article on Binance Smart Chain (BSC) being the most used blockchain in the second quarter of this year. The number of unique active wallets of BSC was 421,854 in Q2 2021, which is 400% higher than that in Q1, according to a report by DappRadar, a data analysis company dedicated to decentralised-applications (Dapps). The number of Dapps also increased significantly on the BSC, reaching a peak of 1,464 by the end of Q2.

The report also highlighted that PancakeSwap, a Dapp on BSC, was the most used Dapp among all blockchains in Q2 with the total value locked accounting for 28% or $7bn of all value locked on the BSC. Gaming and non-fungible tokens (NFTs) are gaining prominence across the BSC network with the latter generating $123m in Q2, which is an increase of 993% from the previous quarter.

Username: CZ Binance

Twitter handle: @cz_binance

Likes: 3,657

Retweets: 640

3. Neeraj K Agrawal’s tweet on US President Joe Biden’s infrastructure bill

Neeraj K Agrawal, director of communications at Coin Center, a leading non-profit organisation dealing with cryptocurrencies in the US, shared an article on the impact of US President Biden’s new infrastructure bill on the future of cryptocurrency. The infrastructure bill mainly focusses on public spending on projects such as roads and bridges. Congress, however, is arguing that crypto brokers should be included in the bill to pay approximately $28bn in taxes for a decade to support the bill.

The bill defines brokers as any person facilitating the transfer of digital assets on behalf of another person. Two competing amendments  have since emerged as to who should be subjected to the tax reporting requirements. One amendment suggests exempting miners, hardware manufacturers, and developers from the bill and focus on the centralised cryptocurrency trading apps. The other amendment aims to exempt only those brokers associated with proven cryptocurrencies such as Bitcoin as they don’t consume excessive electricity during transactions. Jerry Brito, executive director of Coin Center, stated that decisions on policies related to the cryptocurrency industry should not be made in the form of last-minute addition to the infrastructure bill.

Username: Neeraj K. Agrawal

Twitter handle: @NeerajKA

Likes: 333

Retweets: 84

4. Tim Draper’s tweet on Ukraine legalising Bitcoin as cryptocurrency

Tim Draper, founder of Draper Associates, a venture capital firm, shared an article on Ukraine legalising the use of Bitcoin as cryptocurrency. The bill for the law was introduced in 2020 and passed by the Ukrainian parliament. The new law will legalise Bitcoin in the country, once signed by President Volodymyr Zelenskyy. Locals were earlier still allowed to buy and exchange virtual currencies, but under strict scrutiny by law enforcement.

The law will cover all virtual assets, digital currencies, and private keys although Bitcoin is unlikely to be rolled out as a form of payment. It also provides protection against fraud from those dealing in cryptocurrencies and Bitcoin. The new law is part of Ukraine’s plans to attract businesses and investors towards the country’s cryptocurrency market. Ukraine is among several other countries including El Salvador and Cuba to recognise and adopt cryptocurrencies.

Username: Tim Draper

Twitter handle: @TimDraper

Likes: 296

Retweets: 48

5. Rachel Wolfson’s tweet on Bitcoin being used to purchase real estate

Rachel Wolfson, reporter at Coin Telegraph, a news agency related to cryptocurrencies, shared an article on cryptocurrency holders investing Bitcoin in real estate due to the security risks and custody issues associated with digital assets and to boost their cash flow. A survey conducted by Nickel Digital Asset Management, an investment management firm, found that 76% of institutional investors and wealth managers from the US and Europe are concerned about the security of their digital assets.

Crypto investors are taking loans against their Bitcoins to purchase real estate, which helps them to hold their cryptocurrencies while monetising them. Natalia Karayaneva, CEO of Propy, a blockchain-powered real estate transaction platform, stated that blockchain technology that facilitates crypto-to-crypto transactions for the real estate industry will be the ultimate gamechanger. Such technology can enable real estate purchases to be completed in Bitcoin and helps in saving time for both the buyer and seller.

Username: Rachel Wolfson

Twitter handle: @Rachelwolf00

Likes: 41

Retweets: 12