Nearly $500 Million BTC Withdrawal Stuns Coinbase, Ripple Burns Stablecoin Tokens, Shytoshi Kusama Highlights Epic SHIB Move in Gaming Sphere: Crypto News Digest by U.Today

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As a seasoned researcher with a penchant for deciphering the intricacies of the digital economy, I find myself captivated by the events unfolding in the cryptocurrency sphere. The $500 million Bitcoin withdrawal from Coinbase left me scratching my head, much like a magician’s trick that defies explanation. It reminds me of a game of cat and mouse, where the identity of the ‘cat’ remains elusive, leaving us all on tenterhooks.

Here are the top three news stories by U.Today from the past day.

Nearly $500 million Bitcoin withdrawal stuns major U.S. exchange

Based on information from Whale Alert, approximately $472.8 million worth of Bitcoin was withdrawn from Coinbase’s cold wallet yesterday. This withdrawal was split into several transactions to an address labeled “13F8P8.” Subsequently, this large amount of Bitcoin was transferred to 50 other undisclosed addresses, each receiving around 157 BTC or about $9.27 million at current prices. The purpose behind this significant activity remains unclear. Some believe it could be a major Bitcoin ETF issuer like BlackRock accumulating crypto despite the recent challenges and market volatility.

Ripple burns stablecoin tokens

According to @RLUSD_TRACKER, 185 units of Ripple’s stablecoin, RLUSD, were destroyed at the RLUSD Treasury yesterday. This was done by returning the tokens to the issuer account, effectively destroying them. Earlier this month, U.Today reported that Ripple had begun testing its stablecoin in a private beta phase. Based on XRP Scan data, the minting process for these 185 units of RLUSD started approximately a week ago. At present, access to this new product is restricted to some of Ripple’s enterprise partners. Upon completion of the testing phase, the stablecoin will be made available to the public.

Shytoshi Kusama highlights epic SHIB move in gaming sphere

In a recent X post, Shiba Inu lead Shytoshi Kusama praised the latest move by Shiba Eternity; the project has gone through rebranding and is now called PlayWithShib, with its X account also renamed from @ShibaEternity to @playwithshib. “Such an epic move!” wrote Kusama in his post. The renaming is not the only change the project has prepared for the community; from now on, it will expand its presence in the gaming sphere far beyond its first NFT card game for smartphones. At the end of July, the Shiba Eternity team announced its intentions to release multiple additional games on Shibarium, a layer-2 solution. Also, at the beginning of August, Shiba Inu marketing lead Lucie teased a major update to this game – its transition from Web2 to Web3.

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2024-08-30 19:40