As a seasoned analyst with over two decades of experience in the financial industry, I find myself intrigued by the dynamic nature of the crypto market and its continuous evolution.
U.Today presents you with the top three news stories over the past day.
Shiba Inu‘s Shibarium turns 1; these are its key achievements
The Shiba Inu community is commemorating the first birthday of Shibarium, their layer-2 solution, which officially launched in August last year and brought Riyoshi’s vision to life. The Shibarium Network team recently expressed their enthusiasm for this milestone date and showcased Shibarium’s significant accomplishments during its first year. To date, Shibarium has handled over 417 million transactions, and more than 1.8 million wallets have been created. Furthermore, the Shibarium network has successfully carried out three major hard forks – Delhi, Indore, and Shanghai – each introducing new features. Lastly, Hoichi, Shibarium’s third-party bridge, was also launched.
Ex-Binance CEO CZ facing new lawsuit
In my own words as a crypto investor, I recently learned from legal expert Bill Hughes in a recent post that Binance, the cryptocurrency exchange, along with its former CEO Changpeng Zhao (CZ), were sued by class plaintiffs in a Seattle federal court last Friday, Aug. 16. The lawsuit alleges that Binance has engaged in money-laundering activities, causing harm to consumers, and that they have prioritized profits over the law. This is because, it’s claimed, Binance allowed illicit funds acquired through criminal means like ransomware, malware, theft, and hacking to remain untraceable by generating significant amounts of proceeds. According to the plaintiffs, Binance has served as a depository for these ill-gotten funds. Hughes stated that the purpose of this class-action lawsuit is to leverage ongoing government prosecutions and enforcement actions, and he noted that the lawyers representing the plaintiffs are highly credentialed.
58 million XRP in 13 hours – What’s happening?
Based on information from Whale Alert, two significant amounts of XRP tokens were transferred to Binance and Bitstamp, leading exchanges. Specifically, 33 million XRP (equivalent to $19.7 million) went to Binance, and 25.3 million XRP ($15.2 million) was deposited into a Bitstamp wallet. Combined, these transfers total over 58 million XRP. Interestingly, both transactions originated from anonymous blockchain wallets. Market observers have speculated that the Binance deposit might represent a sale by an unidentified crypto whale; however, further analysis by Bithomp, an XRP-focused explorer, suggests that this transfer was an internal transaction within Binance. As for the Bitstamp deposit, it appears to have originated from a digital wallet linked to Ripple.
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2024-08-22 19:34