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TLDR: We currently use "cosmos" behind the scenes for our bech32 prefix. It works fine on the blockchain level, but services that depend on the registry might experience collisions or inconveniences due to conflicting with Cosmos Hub. We are working on migrating to use "bb" instead and wanted to update the registry to account for that as well as solve current conflicts.
See cosmos/chain-registry#5493 for full conversation / reasoning.