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  • CoinGecko, a prominent cryptocurrency data aggregator, has acquired Zash.
  • Zash is an industry leader in NFT data infrastructure and intelligence.
  • The acquisition aligns with CoinGecko’s vision to tokenize any feasible asset.

Crypto data aggregator CoinGecko has made its first acquisition by purchasing NFT data startup Zash.

CoinGecko plans to incorporate Zash’s NFT data into its platform by the second quarter of next year, the firm said on Wednesday. Although the terms of the deal weren’t disclosed, Web3 Studios served as the financial advisor for the transaction.

About Zash

Zash was founded by CEO Parit Patel and CTO Efe Surekli in 2021 at Entrepreneur First, a European startup accelerator backed by veterans including LinkedIn co-founder Reid Hoffman and Stripe co-founder John Collison. 

Zash initially created a social investing app “verified by real on-chain and broker data” but pivoted to NFT data due to a lack of reliable and accurate blockchain data, specifically for NFTs. 

Zash today provides NFT data across 87 marketplaces on several blockchains, including Ethereum, Polygon, Solana and Bitcoin Ordinals.

See Also: CoinShares Gets Exclusive Rights To Acquire Valkyrie Investments’ Crypto ETF Unit

“After evaluating all existing NFT data providers in the space, Zash stands out as unparalleled,” TM Lee, co-founder and CEO of CoinGecko, said in a statement. “Within 3 years, they have built a remarkable product with the most comprehensive NFT data coverage in the market, and commercialized with top tier clients with a lean team.”

Anticipated Enhancements In Crypto Data API

As a result of this acquisition, CoinGecko has outlined plans to introduce new endpoints to its crypto data API by the second quarter of 2024.

These additions will include enterprise-grade NFT data across multiple blockchains, NFT metadata, historical trades, lending data indexing, and wash trading detection for major Ethereum collections. The incorporation of Zash’s NFT data infrastructure is also expected to enhance CoinGecko’s NFT floor price tracker in the coming year.

This acquisition, driven by the recognition of Zash’s unparalleled capabilities in the NFT data space, underlines CoinGecko’s commitment to delivering exceptional value to the crypto community. For those eager to explore the upcoming NFT data API services, the opportunity to sign up for the waitlist is now available.

The Zash team will join CoinGecko as part of the acquisition. CoinGecko co-founder and COO Bobby Ong declined to disclose the size of the team, but LinkedIn shows Zash employs up to about 10 members. 

See Also: Airbnb Acquires AI Startup Gameplanner.AI To Revolutionize Travel

Ong also declined to comment on the size of the deal, but Zash was at a pre-seed funding round level in February of this year when it raised an undisclosed amount from some investors, including Cogitent Ventures and WWVentures, according to Crunchbase data.

CoinGecko was founded in 2014 and competes with the likes of CoinMarketCap, which Binance acquired in 2020 for around $400 million.

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Cryptocurrency Market Update: Bitcoin Slips Below $70,000 Amidst High Liquidation




In a swift turn of events, Bitcoin (BTC), the pioneering cryptocurrency, dropped below the $70,000 threshold early on Wednesday following a wave of investor sell-offs. Just a day prior, Bitcoin had crossed the $71,000 mark, but market sentiment swiftly shifted, dragging other major altcoins—including Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC)—into the red zone.

According to CoinMarketCap data, the overall Market Fear & Greed Index stood at 75 (Greed) out of 100, indicating a mix of optimism and apprehension among traders. Notably, the Bittensor (TAO) token emerged as the top gainer with a remarkable 24-hour surge of over 7 percent, while dogwifhat (WIF) experienced the largest loss, plummeting nearly 16 percent.

Bitcoin (BTC) Price Update Bitcoin’s price tumbled to $69,089.01, marking a 24-hour dip of 3.05 percent, as reported by CoinMarketCap. On the Indian exchange WazirX, BTC was priced at Rs 60.93 lakh.

Other Major Cryptocurrencies Ethereum (ETH) saw a 24-hour loss of 4.81 percent, trading at $3,508.86, while Dogecoin (DOGE) registered a dip of 5.59 percent, currently priced at $0.1879. Litecoin (LTC) and Ripple (XRP) also experienced losses, with Solana (SOL) marking a 24-hour loss of 3.44 percent.

Top Gainers and Losers Bittensor (TAO) led the pack of gainers with a 7.30 percent surge, while dogwifhat (WIF) suffered the most significant loss, dropping by 15.58 percent.

Market Analysis and Expert Insights Experts weighed in on the market scenario, attributing Bitcoin’s downturn to heightened liquidations and cautious sentiment ahead of the upcoming US CPI data release. While Bitcoin’s immediate support rests at $67,700, resistance is expected at $70,400. Ethereum proponents face challenges amid hopes for an ETF approval, with the SEC providing limited updates on the matter.

Final Thoughts The cryptocurrency market remains highly dynamic, with prices fluctuating rapidly and investor sentiment playing a pivotal role. As the market navigates through volatility, it’s essential for investors to stay informed, exercise caution, and seek expert advice before making any investment decisions.

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Cryptocurrency: A Scapegoat for Foreign Policy Failures?




Cryptocurrency has once again found itself at the center of a heated debate, this time regarding its alleged role in facilitating illicit activities and circumventing sanctions imposed by the United States. The Biden administration, in particular, has come under scrutiny for its handling of the issue, with some accusing it of using digital assets as a convenient scapegoat for broader foreign policy shortcomings.

In a recent hearing before the Senate Banking Committee, Deputy Treasury Secretary Wally Adeyemo raised concerns about the misuse of cryptocurrencies by foreign adversaries such as Iran, Russia, North Korea, and militant groups like Hamas. Adeyemo’s remarks underscored a growing unease within the U.S. government regarding the potential national security implications of unregulated digital currencies.

However, voices from within the cryptocurrency industry and Congress have pushed back against the administration’s narrative. Faryar Shirzad, Chief Policy Officer at Coinbase, one of the leading cryptocurrency exchanges, pointed out that the prevalence of illicit activity in the crypto space is relatively low compared to traditional finance. Instead of demonizing cryptocurrencies, Shirzad argued, the focus should be on targeting bad actors operating offshore.

Senator Tim Scott, the ranking Republican on the Senate Banking Committee, echoed these sentiments, accusing the Biden administration of using digital assets as a distraction from its failure to effectively combat financial flows to sanctioned entities. Scott’s criticism reflects broader skepticism among some lawmakers about the government’s approach to regulating cryptocurrencies.

One area of potential agreement between the Biden administration and the cryptocurrency industry is the need for clearer regulations governing stablecoins, a type of digital asset pegged to a fiat currency like the U.S. dollar. Both sides recognize the importance of addressing the potential risks associated with stablecoin issuance and usage, particularly in the context of national security and financial stability.

The debate over stablecoins has intensified following reports of their alleged role in facilitating illicit transactions, including those linked to Russia’s war effort in Ukraine. The Treasury Department has called for increased oversight of stablecoin issuers and transactions, while also advocating for legislation that would subject them to stricter regulatory standards.

Despite the contentious nature of the discussion, there are signs of bipartisan cooperation on certain aspects of cryptocurrency regulation. A bipartisan bill addressing stablecoin regulation passed the House Financial Services Committee last year, signaling a potential path forward for legislative action in this area.

As the debate over cryptocurrency regulation continues to unfold, it is clear that finding the right balance between innovation and security will be paramount. While concerns about illicit activity and national security must be addressed, policymakers must also recognize the potential benefits of cryptocurrencies in fostering financial inclusion and technological advancement.

Ultimately, the resolution of these issues will require thoughtful collaboration between government officials, industry stakeholders, and lawmakers to develop a regulatory framework that promotes innovation while safeguarding against misuse. Only through constructive dialogue and cooperation can we ensure that cryptocurrencies fulfill their potential as a force for positive change in the global economy.

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Bitcoin Resurgence: Why Wall Street Is Embracing the Crypto Revolution




Andrew Pratt of Wiser Wealth Management in Marietta, Ga., finds little resistance as he proposes Bitcoin investments to his firm’s committee. With Bitcoin surging 140% in the past year and backed by giants like BlackRock, skepticism has waned. Pratt sees the potential to allocate a modest 1% of client portfolios to Bitcoin, acknowledging the limited downside risk compared to potential gains.

The debate over Bitcoin’s intrinsic value seems to have lost its relevance amidst its soaring market performance. Once dismissed, Bitcoin now boasts a market value of $1.3 trillion, driving the total crypto market to $2.5 trillion. Wall Street, once wary, now views cryptocurrency as an opportunity for profit rather than a speculative venture.

Despite lingering doubts about Bitcoin’s utility beyond speculation, Wall Street executives are increasingly supportive. BlackRock’s CEO, Larry Fink, notably reversed his stance, endorsing Bitcoin’s long-term prospects and championing the iShares Bitcoin Trust, now one of the largest Bitcoin ETFs with nearly $18 billion in assets.

While skepticism persists about Bitcoin’s status as a real asset or currency, its growing acceptance on Wall Street underscores the evolving landscape of finance. As institutions embrace cryptocurrencies, Bitcoin’s journey from pariah to portfolio asset highlights the transformative power of digital assets in reshaping traditional investment strategies.

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