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# Binance Founder CZ Spotlights U.S. Bitcoin Holdings as a Catalyst for Global Accumulation Changpeng Zhao (CZ), the founder of Binance, disclosed that the United States holds an impressive reserve of 200,000 Bitcoin (BTC), which he asserts has prompted other countries to start accumulating the cryptocurrency. A report from 36Crypto on October 6 (local time), referencing insights from cryptocurrency influencer Crypto Rover, noted that CZ shared details about the U.S. Bitcoin reserves during a private event. He noted, "Once the United States made its move, other nations had no choice but to start buying as well." In response to this revelation, Binance has been aiding multiple countries in setting up their Bitcoin reserves. The firm is offering guidance on developing national-level reserve infrastructures, providing expertise in areas like wallet systems, custody solutions, and security protocols. # Technical Consulting for National Bitcoin Custody CZ suggested that smaller nations initially prioritize multisignature custody solutions. As their technical capabilities grow, they should shift to self-managed cold wallet systems. This strategy is designed to enhance initial security by ensuring that no single institution has complete control over the assets. He further stressed, "Without institutional-level security systems in place from the very beginning, it will be challenging to avoid potentially catastrophic errors." CZ underscored the necessity of assessing technical capabilities and implementing robust security measures for key management. # Urgency in Bitcoin Accumulation CZ depicted the increasing momentum among countries to accumulate Bitcoin not as a speculative trend but as an urgent strategic endeavor. "The longer they wait, the higher their entry costs will be," he warned. "Delaying this process will only increase the financial burden." Binance's role in supporting national Bitcoin reserve systems, alongside the revelation of U.S. holdings, marks a new phase in the global race for cryptocurrency accumulation—one driven by strategic urgency and geopolitical considerations.

# U.S. Treasury Secretary Issues Tariff Warning Ahead of August 1 Deadline In an interview on CNN's "State of the Union" this Sunday, U.S. Treasury Secretary Scott Besent alerted that countries failing to finalize trade agreements with President Donald Trump by August 1 will face the reimplementation of high tariffs. These tariffs, initially announced on April 2, will be reinstated if no progress is made, according to a June 6 report by Cryptopolitan. Besent noted that President Trump plans to send formal notices this week to about 12 trading partners. These letters, intended as a final caution, will state clearly that if agreements are not concluded by the August deadline, tariff rates will revert to the levels previously announced this year. The notices are expected to be dispatched on Monday. # August 1: A Fixed Deadline Secretary Besent stressed the importance of the August 1 date, indicating it is neither a suggestion nor a negotiable deadline. "We've explicitly set this date," he remarked, adding, "If trading partners wish to speed up negotiations, that's welcomed; if not, the existing tariff rates will apply." Besent dismissed claims that the move is merely a political tactic. In April, President Trump rolled out the updated tariff plan with a 90-day grace period to allow time for renegotiations. Besent affirmed that this grace period ends this Wednesday, with no additional extensions. # 90-Day Grace Period Nearing Conclusion: Tariffs Imminently Effective The primary goal of the grace period was to extend time for trade discussions, but that window is now closing. At a press conference on Friday, President Trump reiterated, "Tariffs will be reactivated starting August 1, and revenue will start flowing into the United States." Besent echoed this viewpoint, confirming that tariff enforcement will commence as planned unless agreements are reached. When asked about the potential for deals with specific countries, Besent hinted at imminent progress without naming nations. "We can anticipate a few major announcements in the coming days," he noted, suggesting that these announcements might surface just before Wednesday’s deadline.

# UAE Authorities Dismiss Rumors of Golden Visa Eligibility for Crypto Investors The United Arab Emirates (UAE) authorities have refuted claims that cryptocurrency investors can qualify for the nation's esteemed Golden Visa program. According to a report by Crypto Briefing on the 7th, these rumors originated from a recent announcement by The Open Network (TON) about a UAE Golden Visa initiative. In a joint statement released on Monday, the UAE's Federal Authority for Identity, Citizenship, Customs, and Port Security (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA) stressed that the Golden Visa is awarded based on specific eligibility criteria. “Cryptocurrency investors do not meet these requirements,” the statement said. The ICP highlighted that eligibility for the Golden Visa is confined to categories such as property investors, entrepreneurs, individuals with exceptional talents, scientists and professionals, top-performing students and graduates, humanitarian pioneers, and frontline workers. # TON's Initiative Under Review VARA clarified that TON is neither licensed nor regulated by UAE authorities. This follows TON's claims that individuals staking $100,000 in Toncoin (TON) for three years and paying a $35,000 processing fee could qualify for a UAE Golden Visa. The SCA reinforced this point, stating that investments in digital currencies are subject to specific regulations that are unrelated to the Golden Visa framework. The agency reiterated its commitment to upholding international financial regulatory standards. # Warning Against Unverified Information Authorities urged the public to verify visa-related information through official government websites and to be cautious of unverified advertisements or offers circulating online. Despite TON not claiming direct collaboration with UAE authorities, its program has been identified as a third-party initiative leveraging Toncoin for purported Golden Visa eligibility. # Toncoin's Market Volatility Following TON’s program announcement, the price of Toncoin surged by 13%, surpassing $3. However, subsequent clarifications from UAE authorities led to a price decline back to $2.8, according to TradingView data. Market participants are advised to thoroughly scrutinize investment opportunities and rely on credible sources for regulatory updates.

# Blockchain Pioneer Ondo Finance to Acquire Oasis Pro, Secures Regulatory Licenses for Tokenized Securities Ondo Finance, a leading blockchain technology firm, announced on October 7 its plans to acquire Oasis Pro, a registered broker-dealer and fintech infrastructure provider, according to Bitcoin.com. This strategic acquisition will provide Ondo Finance with crucial regulatory licenses, including those for SEC-registered broker-dealer activities, an Alternative Trading System (ATS), and transfer agency services. These licenses will enable Ondo Finance to establish a strong regulatory framework for offering tokenized securities markets to U.S.-based investors. Nathan Allman, CEO of Ondo Finance, hailed the deal as a "turning point" for the tokenized finance sector, marking the beginning of a "major next chapter." He highlighted that the acquisition would enable a system bolstered by stringent regulations. Pat LaVecchia, CEO of Oasis Pro, remarked that combining Oasis Pro’s brokerage platform and licenses with Ondo Finance’s infrastructure creates "an extensive foundation for a regulated tokenized securities ecosystem." Founded in 2019, Oasis Pro has been a member of the Financial Industry Regulatory Authority (FINRA) since 2020. The company supports the issuance and trading of tokenized securities and is one of the pioneering regulated ATS platforms in the U.S. that facilitates digital securities settlement using stablecoins and fiat currency. Ondo Finance identifies the tokenization of real-world assets (RWA) as a rapidly growing market. Experts predict that the tokenized stock market alone could exceed $18 trillion by 2033. Currently, Ondo Finance manages over $1.4 billion in tokenized assets worldwide and plans to introduce tokenized equity access services for non-U.S. investors soon. The transaction is awaiting regulatory approval, and the financial terms of the deal have not been disclosed.

# Stablecoins: The Emerging Pillar of Digital Finance Stablecoins have become a prominent topic in global finance, frequently mentioned alongside cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). Though they share similarities with traditional digital assets, stablecoins stand out for their defining feature: price stability. Unlike volatile cryptocurrencies—Bitcoin (BTC) surged beyond 100 million KRW last year and exceeded 200 million KRW this year—stablecoins are crafted to maintain a steady value. This stability is achieved through a pegging mechanism that ties their value to fiat currencies like the U.S. dollar or the South Korean won at a 1:1 ratio. # Understanding the Basics of Stablecoins The concept of pegging is central to the price stability of stablecoins. For example, Tether (USDT), the leading stablecoin by market capitalization, is pegged to the U.S. dollar, making 1 Tether equivalent to 1 dollar. This feature allows users to transact within a digital ecosystem while avoiding the volatility typical of other cryptocurrencies. Such stablecoins are often referred to as a "digital dollar" or "digital won," depending on their underlying reserve currency. In essence, stablecoins were created to enable the use of fiat-like currencies within blockchain ecosystems, making them essential for applications such as remittances, payments, and decentralized finance (DeFi). # Mechanisms to Maintain Price Stability Stablecoins operate under two primary models: reserve-backed and algorithmic-based stability. The most common model, reserve-backed, involves issuers holding reserves in fiat currencies, cash equivalents, or highly liquid assets such as short-term government bonds. These reserves match the total supply of the stablecoin, ensuring that holders can redeem their digital tokens for real currency at a 1:1 ratio. Issuers maintain a strong reserve before minting coins, ensuring financial stability. In contrast, algorithmic stablecoins use algorithms to dynamically adjust the coin’s supply. However, the collapse of Terra (LUNA) in 2022 exposed the weaknesses of this model, undermining investor confidence and prompting many regulators to ban algorithmic stablecoins. The U.S. Genius Act, for example, includes measures to restrict the issuance of such coins. # The U.S. Genius Act: A Push for Stability and Transparency The United States is ramping up its regulatory efforts in the stablecoin sector. The Genius Act, anticipated to take effect within the next two months, emphasizes transparency and accountability. Key provisions include requiring issuers to maintain 100% reserves and undergo regular audits. Non-compliance will result in immediate legal penalties, highlighting the U.S.’s commitment to leading the global stablecoin market through stringent regulatory oversight. # South Korea’s Cautious Approach South Korea is in the early stages of developing stablecoin legislation. The Bank of Korea, Financial Services Commission, and private entities, including fintech companies and domestic banks, are exploring their roles in this emerging market. Notably, local cryptocurrency exchanges like Upbit have begun filing for trademarks related to stablecoin initiatives. Despite the enthusiasm, there are concerns. Bank of Korea Governor Lee Chang-yong, speaking at the European Central Bank’s (ECB) forum in Sintra, Portugal, expressed worries about the swift proliferation of South Korean won-backed stablecoins. He warned that issuing unregulated stablecoins tied to the won could undermine capital flow controls, potentially leading to financial instability. # Stablecoins as the Future of Payments Stablecoins are expected to evolve beyond being digital assets to becoming integral components of future financial systems. They can potentially solve inefficiencies in cross-border payments, microtransactions, and trade finance. Even the Genius Act identifies stablecoins not as speculative assets but as reliable means of payment, underscoring their role in the transition to a digital economy. # Risks and Considerations However, stablecoins are not free from risks. If issuers fail to maintain adequate reserves or operate with opaque accounting practices, the peg could break, causing a “de-pegging” event. This disconnect between the stablecoin and its underlying asset value could cause significant disruptions for users and markets. Given these risks, the Bank of Korea and other regulators globally are working on frameworks to ensure stablecoin issuers adhere to the highest standards of transparency and accountability. # Conclusion Stablecoins represent a crucial step toward the digitization of finance, with vast implications extending beyond the blockchain industry. As regulatory frameworks like the Genius Act come into play, the global financial ecosystem is preparing for the mainstream adoption of stablecoins as a cornerstone in the future of payments. In summary, while stablecoins offer exciting new possibilities, understanding their mechanisms and associated risks is vital—for both institutional players and everyday users aiming to leverage the benefits of this emerging asset class. For those keen on mastering the language of finance, staying updated on stablecoin developments is essential.

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# BRICS Summit Commences in Rio with Key Leaders Absent, Casting a Pall on Global Geopolitical Forum The BRICS Summit began in Rio de Janeiro under the stewardship of Brazilian President Luiz Inácio Lula da Silva. However, the notable absences of Chinese President Xi Jinping and Russian President Vladimir Putin were significant. According to Bloomberg, these leaders did not even send delegates, resulting in a lack of representation from major member nations such as China, Russia, Egypt, Iran, and Saudi Arabia. # Is Russia Teetering on the Edge of Economic Collapse? On November 6, CryptoPolitan reported that President Putin’s nonattendance at the summit aligns with signals of a worsening economic crisis in Russia. The Russian economy, heavily reliant on arms production and oil exports, is contending with several deteriorating metrics, including decreasing industrial output, escalating inflation, shrinking consumer spending, and an expanding fiscal deficit. Maxim Reshetnikov, Russia’s Minister of Economic Development, recently remarked that the country is on the cusp of a “recession,” while Finance Minister Anton Siluanov termed the situation a “perfect storm.” Despite these alarming indicators, Putin has dismissed notions of an economic collapse as exaggerated, though he acknowledged the need to prevent a recession or stagflation. Russia’s GDP growth rate for the first quarter of 2023 fell to 1.4%, down sharply from 4.5% in the last quarter of 2022. Manufacturing has faced its steepest contraction in three years, and June's new car sales dropped 30% compared to the previous year. # Energy Revenue Decline Causes Domino Effect Across Industries Economic challenges have rippled across various Russian industries. Rostselmash, a leading tractor and harvester manufacturer, announced production cuts and early staff leave due to declining market demand. Simultaneously, Siberian energy company Rosseti Sibir is on the brink of bankruptcy under heavy debt, has suspended investments, and is demanding higher tariffs for industrial clients. Russian banks also face increasing financial strain from war-related loan burdens, with experts predicting a “moderate-scale” banking crisis by 2026. Russia's military and security budget now comprises 6% of its GDP and 40% of federal spending, a proportion much higher than that of the United States or Germany. While this spending initially spurred growth, it has ultimately driven inflation and created a high-interest-rate environment that further restricts the economy. In addition, revenue from oil and gas—Russia’s pivotal industries—has declined due to weak international oil prices and unmet revenue targets, worsening the country’s fiscal troubles. The absence of pivotal leaders at the BRICS Summit, coupled with these economic issues, highlights the geopolitical and domestic struggles faced by two of the bloc’s most influential nations, potentially impeding the forum’s ability to advance its agenda in a rapidly changing global landscape.

# Tesla-Focused ETF Launch Delayed Amid Musk’s Political Maneuvers The launch of a Tesla-centric exchange-traded fund (ETF) has been delayed due to the rising prominence of Tesla (NASDAQ: TSLA) CEO Elon Musk’s political activities, as reported by Finbold on November 7. The anticipated “Tesla Innovation ETF” now faces uncertainty. Azoria Partners, the investment firm behind the ETF's introduction, revealed its decision to adopt a cautious approach following Musk's announcement of a new political initiative named the “America Party.” This development occurs amid escalating tensions between Musk and former President Donald Trump, who warned that Musk’s political interests might endanger SpaceX contracts and federal subsidies related to his enterprises. James Fishback, the CEO of Azoria Partners, conveyed apprehension that Musk’s actions could undermine investor confidence. A Trump supporter, Fishback used social media platform X (formerly Twitter) to call on Tesla's board to evaluate whether Musk’s political ventures align with his CEO responsibilities. Fishback also highlighted Musk’s withdrawal from leading the Department of Government Efficiency (DOGE), considering it a further destabilizing factor. Musk’s political announcement coincided with Trump signing significant tax cuts and spending legislation, which Musk had opposed. This timing intensifies concerns about how Musk’s political activities might conflict with his corporate duties. # Impact on Tesla Stock The ETF launch postponement adds to broader concerns beyond a mere shift in capital flows. Tesla shares closed last Friday at $315.35, a slight drop from a weekly high of about $320. Although modest, this dip reflects increasing investor anxiety over potential regulatory repercussions, the possible loss of electric vehicle tax credits, and worries that Musk might be diverted from his primary obligations. Market analysts warn that Musk’s political risks could further affect Tesla’s stock. If negative sentiment increases, Tesla shares could challenge a crucial technical level at $250—or even drop to $200. Technical charting platform TrendSpider identifies $250 as the "Point of Control" (PoC), marking the price range with the highest trading volume over the past five years. This PoC is a critical area for both bulls and bears, signifying its importance for market participants. While shares currently trade above this level, investors are cautious about whether Tesla’s stock can maintain its position or risk falling toward this vital threshold. Close attention will be paid to Musk’s upcoming actions—both politically and corporately—as these developments could influence Tesla’s market trajectory in the coming weeks.

# Russian Government Seeks Nationalization of Billionaire-Owned Gold Mining Firm Amid Legal Disputes The Russian government is reportedly pursuing the nationalization of a gold mining company owned by billionaire Konstantin Strukov due to allegations of violating regulations that prohibit public officials from engaging in private business activities, as reported by the Daily Hodl on October 6. The Prosecutor General's Office of Russia has initiated a lawsuit to confiscate shares of Yuzhuralzoloto, a gold mining firm owned by Strukov, according to Russia’s state news outlet Tass. Strukov, who served as a deputy in the Chelyabinsk Regional Legislative Assembly for 25 years and held the position of deputy chairman, acquired the gold mining operations through bankruptcy proceedings. He served as the company’s CEO from 1997 to June 2001, later becoming the chairman of the board. # Violation of Public Official Regulations The lawsuit alleges that Strukov violated Russian regulations that bar public officials from participating in business activities. These laws mandate officials to divest all shares and stakes in private enterprises before taking any public office. # Yuzhuralzoloto's Financial Background Yuzhuralzoloto produces over 450,000 ounces of gold annually and generates estimated annual revenues of $1.5505 billion (approximately 2.12 trillion KRW), as reported by Tass. Prosecutors claim that Strukov has frequently transferred profits from the gold mines abroad to sustain a lavish lifestyle for himself and his family in countries including Montenegro, Belgium, Switzerland, Luxembourg, Latvia, Estonia, and Turkey. Asset acquisitions reportedly include high-end properties, yachts, and other luxury items. # Government's Nationalization Move The Russian government has demanded that 100% of the shares in Yuzhuralzoloto, owned by Strukov and his daughter, be transferred to the state. This significant nationalization effort highlights the Kremlin’s intensified crackdown on high-profile public figures accused of regulatory violations. It remains to be seen whether this case will set a precedent for future state actions.

**U.S. Secret Service Uses Blockchain Expertise to Combat Cryptocurrency Crime** The U.S. Secret Service has significantly evolved from just protecting cash-filled briefcases to becoming one of the world’s leading units in dealing with cryptocurrency crimes. According to CryptoNews on October 7, the agency's Global Investigation Operations Center has confiscated around $400 million in digital assets, storing them in a single cold wallet during enforcement actions aimed at fraud, extortion, and scams. **Investigative Skills From Sextortion to Global Money Laundering** A recent case highlights the agency's impressive investigative skills. A U.S. teenager lost $600 in a sextortion scheme. Secret Service agents traced the digital currency, revealing a money laundering network. They identified a Nigerian suspect involved in thousands of illegal transactions with assistance from a U.S.-based money mule, moving over $4.1 million through 6,000 transactions. The suspect was arrested by UK authorities and is awaiting extradition. **Advanced Blockchain Forensics for Digital Crime Fighting** Led by analyst Jaime Lam, the Secret Service uses digital tools, including software, subpoenas, and spreadsheets, to enhance traditional investigative methods. The agency tracks cryptocurrency crimes by analyzing domain registrations, wallet linkages, and blockchain data, shifting from conventional forensic techniques to a more tech-driven approach. Cryptocurrency crime is on the rise. In 2024, Americans reported $9.3 billion in cryptocurrency-related scams, making up over half of the $16.6 billion in internet crime losses to the FBI. Elderly victims lost nearly $2.8 billion, mainly due to fraudulent investment platforms. **Global Training to Combat Cross-Border Crime** The Secret Service extends its expertise globally, conducting digital crime training workshops for law enforcement in over 60 countries. Carly Smith, a key figure in these efforts, shared an incident in Bermuda: “Participants often say, ‘We didn’t know these crimes were happening in our country,’ even after a weeklong session.” The agency's methods show how modern detectives are transforming crime-solving. In the sextortion case, investigators used evidence like screenshots, receipts, and blockchain analytics, demonstrating the potential for digital detective work to redefine global financial crime pursuit. **Collaboration with Crypto Companies for Wallet Freezes and Asset Recovery** The Secret Service collaborates with cryptocurrency firms to trace and freeze illicit wallets. Major companies like Coinbase and Tether actively participate in these investigations. For example, over $225 million in USDT linked to romance-investment scams was recovered in a high-profile case. Patrick Freaney, head of the Secret Service’s New York field office, stated, “For over 160 years, we’ve tracked money flow. This training extends that mission.” **A Legacy in Financial Crime Enforcement** Established in 1865 to combat counterfeit currency under the Treasury Department, the Secret Service remains crucial in protecting the U.S. financial system. Now under the Department of Homeland Security, its Washington D.C. headquarters coordinates efforts to blend traditional financial oversight with modern, tech-focused crime-fighting. As cryptocurrency usage expands globally, the Secret Service’s innovative approaches highlight its dedication to using blockchain technology in the ongoing fight against financial crimes.

# U.S. House Kicks Off Hearing to Establish America as Crypto Leader On July 9, the U.S. House Ways and Means Oversight Subcommittee will hold a hearing to discuss policies aimed at positioning the United States as a global cryptocurrency hub. Journalist Eleanor Terrett announced the news via her X (formerly Twitter) account on July 7. Titled "Making America the Crypto Capital of the World," the session will center on creating a 21st-century tax framework for digital assets. # Congressional Leaders Champion Crypto-Friendly Policies The hearing will be co-chaired by Jason Smith (R-MO) and David Schweikert (R-AZ), who head the full committee and the subcommittee, respectively. An official press release highlights their emphasis on the urgent need for a tax policy that keeps pace with the burgeoning digital asset industry. They aim to outline legislative strategies and examine administrative responses to make the cryptocurrency environment more accommodating. As indicated by the hearing's title, this session marks a focused effort to evaluate and potentially implement policies that could position the United States as a leader in the digital asset landscape. # Event Details and Public Access Scheduled for 9:00 AM Eastern Time on July 9, the hearing will take place in Room 1100 of the House Office Building in Washington, D.C. Those who cannot attend in person can watch the proceedings via a live webcast. However, there will be no recorded video available after the live stream. # U.S. Accelerates Crypto Policy Development The announcement of this hearing signifies a major shift in Congress's approach to formalizing policies for the cryptocurrency sector. Importantly, the focus on tax issues over stringent regulatory measures suggests an intention to nurture industry growth and attract investment. Currently, the U.S. digital asset taxation landscape is fraught with vague regulations and inconsistent enforcement, causing operational uncertainty for businesses. Pro-crypto lawmakers had previously tried to include specific tax deferrals in budget legislation during former President Donald Trump's administration, but those efforts did not gain traction. # Significant Implications for the Crypto Industry Industry experts view the hearing as a critical step toward integrating cryptocurrency within the United States. If Congress can effectively address tax policy gaps and create a favorable business climate, it could stimulate increased investment and innovation in the rapidly evolving digital asset sector. Both market participants and policy observers will be closely watching the hearing's outcomes as the U.S. government aims to take a leading role in the global crypto ecosystem.

# Ethereum Co-Founder Vitalik Buterin Proposes Gas Limit Cap for Enhanced Network Security and Efficiency Vitalik Buterin, co-founder of Ethereum (ETH), along with researcher Toni Wahrstätter, has introduced Ethereum Improvement Proposal (EIP)-7983. This proposal aims to cap transaction gas limits at 16.77 million (equivalent to 2^24). According to a Cryptopolitan report dated October 6, the proposal, initially registered on GitHub in June, is now finalized. The main objective of EIP-7983 is to ensure predictable transaction costs and enhance network security by incorporating this protocol-level adjustment into the Ethereum network. # Mitigating DoS Attack Risks and Boosting Compatibility There are theoretical concerns that a single transaction on the Ethereum network could consume the block’s entire gas limit. For instance, smart contracts performing extensive computational tasks might monopolize a block’s capacity, limiting other transactions. Such scenarios could expose the network to denial-of-service (DoS) attacks and compromise its stability. EIP-7983 addresses these risks by enforcing a transaction gas cap, requiring transactions to be split into smaller units. This change is designed to improve compatibility with zkVMs (zero-knowledge virtual machines), creating a more balanced execution model that supports parallel transaction processing. The proposal also aims to speed up zero-knowledge proof creation and encourage wider participation in Ethereum’s transaction verification processes. According to the proposal, this limit will be independent of block gas limits. Transactions exceeding 16.77 million gas will be automatically rejected with specific error codes, either during the mempool (txpool) stage or during block verification. # Rationale Behind the 16.77 Million Gas Cap Buterin and Wahrstätter justify the 16.77 million gas limit (2^24) as a balanced figure that accommodates complex transactions while maintaining predictable execution ranges. This limit ensures the smooth functioning of resource-intensive use cases, such as smart contract deployments and sophisticated decentralized finance (DeFi) operations. Discussions on Ethereum gas usage limits are not new. In November 2022, EIP-7825 proposed a 30 million gas limit, but developers called for a reduced cap, leading to further discussions and the eventual emergence of EIP-7983. # Cost Implications and Network Impact According to EtherScan’s gas tracker, the current average gas cost is 0.266 gwei, with Ethereum priced at around $2,546. A transaction using the maximum gas limit of 16.77 million would cost approximately $11.38. The proposed EIP is seen as a crucial step toward improving the stability and efficiency of the Ethereum network. However, responses from the ecosystem and the proposal's adoption will be critical factors to watch. EIP-7983 has the potential to redefine transaction scaling for Ethereum by addressing key vulnerabilities and enhancing the network’s compatibility with emerging technologies. Its implementation will be a significant development for stakeholders to monitor.