- Coinmarketcap has introduced the ‘Oscars of Crypto,’ sparking controversy with some nominees
- The celebration of several crypto projects and personalities is more than surprising
- Voting for awards closes on March 6
Coinmarketcap has launched what it calls the ‘Oscars of Crypto,’ but the nominees for its CMC Crypto Awards 2024 are already causing a stir. The inclusion of Toncoin but not Bitcoin in the headline Crypto of the Year category has not gone down well, while Binance CEO Changpeng Zhao figuring in Crypto Leader of the Year while he awaits sentencing on multiple financial crimes has raised more than a few eyebrows. Voting can be cast until March 6, although the winners will be decided by multiple factors including CoinMarketCap data, insights from expert panels as well as community votes.
Bitcoin Not Invited
The CMC Crypto Awards 2024 feature eight categories: Crypto of the Year, Crypto Leader of the Year, Meme Coin of the Year, Most Innovative DeFi, Most Innovative L1, L2, Cross-Chain Project, Social Influencer to Watch, and Bridge Builder of the Year.
Notable nominees for the top award, Crypto of the Year, which Coinmarketcap says rewards projects that “stood out for their innovation, resilience, and impact on the industry,” features Chainlink, Ethereum, and Toncoin, but not Bitcoin, which shattered the glass ceiling with its ETF approval and has been single-handily driving institutional adoption over the past 12 months.
Equally spurious is one particular addition to the Crypto Leader of the Year category: alongside Coinbase CEO Brian Armstrong, Ethereum co-founder Vitalik Buterin, and Hong Kong’s Securities and Futures Commission (SFC) CEO Julia Leung is Changpeng Zhao, the man who agreed a stonking $4.3 billion settlement with US authorities in return for a shorter stint in prison thanks to his years of allowing Binance to ride roughshod over financial regulations.
Some Deserving Nominees
There are at least a couple of worthwhile nominees in the Social Influencer to Watch, Lookonchain and ZachXBT, although it’s unclear quite how happy they will be to be paired with the likes of CryptosRUs and Wendy O.
Finally, the Bridge Builder of the Year category recognizes “established brands, companies and institutions that believe in the power of Web3 to deliver new value to their customers.” Nominees in this category include BlackRock, PayPal, Reddit, Starbucks, and Nike, all of which deserve to be up for the award in the only category that doesn’t have any contentious if not downright laughable entries in it.
