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Crypto News Digest by U.Today
Valeria Blokhina
Make sure you stay up to date on the latest events in the cryptocurrency industry with U.Today’s news roundup!
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Here are the three main news stories of the past day presented by U.Today.
Shiba Inu (SHIB) joins the ranks of the leading Solana-focused exchange
Backpack, a popular cryptocurrency exchange, recently made an X announcement on SHIB trading going live on its platform. The announcement was republished from the official X handle of Shiba Inu; the team behind the SHIB account called their followers to check out the new listing, thanking the exchange for supporting the SHIB community. Backpack launched in 2024 with a focus on the Solana ecosystem, which has proven to be fruitful, driving growth for the platform and attracting significant investment. The SHIB listing not only became another milestone in the adoption of the dog-themed meme token, but also opened it up to Solana enthusiasts. At the time of writing, SHIB is trading at $0.00002436, down 3.40% over the past 24 hours, according to CoinMarketCap.
Ripple Forms Coalition With Crypto Heavyweights, CEO Enthusiastic
In a recent X postThe fintech giant Ripple has announced yes team up with leading industry heavyweights as part of the formation of a new “Tech Against Scams” coalition. Together with the Global Anti-Scam Organization and leading technology companies such as Coinbase, Match Group (the parent company of Tinder and Hinge), Meta, Kraken and Gemini, Ripple will fight online fraud and financial schemes that target consumers across the globe. the sectors. Brad Garlinghouse, CEO of Ripple, has made it to social media support the company’s initiative to join the anti-fraud alliance. “There’s one thing all of us in the tech industry can agree on: the time has come to dismantle the scammers once and for all. Proud that Ripple is joining this coalition alongside other industry heavyweights,” Garlinghouse wrote.
Gabor Gurbacs Spotted an Explosive 17,400% Surge in Bitcoin—Here’s the Question He Asks
Gabor Gurbacs, strategic advisor to Tether and VanEck, attracted attention to the exceptional increase in value of Bitcoin over the last 10 years. In his X post, Gurbacs wrote that in that period the price of BTC increased by 17,400%, from $400 to the current level of $70,000. While many market participants would reasonably wonder what happened to the flagship cryptocurrency that helped it reach such high levels, the consultant argues that this is not the right question; rather, one should ask what happened to the US dollar. It is well known that Satoshi Nakamoto created Bitcoin after the 2009 mortgage market crisis as a hedge against similar upheavals that may occur in the future. Then, the Federal Reserve began printing money to bail out big banks and corporations. The same situation repeated itself during the banking crisis in Cyprus and then in 2020, when the pandemic began. That year alone, the Fed printed $3 trillion, which contributed to the continued devaluation of the US dollar.
About the author
Valeria Blokhina
Valeria is the community manager of U.Today. She is a cryptocurrency enthusiast and believes that cryptocurrency is the future of finance. Valeria currently covers the latest news in the world of cryptocurrencies and blockchain.