I noticed that although it is a BETA site,Craft CMS has a different favicon
it is red instead of the regular blue.
What is the reason for this?
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It echoes the logo for the CMS:
Note that the font for the letter C is matches the logo as well here.
The space of C logos is also crowded; we already have Code Review (CR) and Cryptography (Cr) already. Shifting to use red here probably made a lot of sense to differentiate. The alternatives, using just a C on blue or using Cra are not distinctive or too crowded.