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Crypto News Digest by U.Today
Valeria Blokhina
Check out U.Today’s news digest to stay updated on the latest crypto events!
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U.Today has prepared the three main news stories of the last day.
Edward Snowden Makes Iconic Bitcoin Line as Berkshire Hathaway Slumps 99.97%
The New York Stock Exchange was rocked by a technical glitch on Monday, June 3, causing Warren Buffet’s Berkshire Hathaway class A shares to appear to plummet by nearly 100%. The malfunction led to halted trading in those shares, as well as Barrick Gold and Nuscale Power. While the issue was quickly resolved and all three stocks resumed trading on the same day, the incident did not go unnoticed by the crypto community, with many digital asset enthusiasts taking to social media to remind Warren Buffett his criticisms of Bitcoin. Notably, the businessman called BTC a “gambling asset” with zero value. However, as has been noted by many members of the crypto community, the leading cryptocurrency has never witnessed such a dramatic decline, unlike Berkshire Hathaway stock. Joining the army of commentators was Edward Snowden, the infamous whistleblower and advocate for the right to privacy; in his post on
Australian Bitcoin Spot ETF Launches, Here’s Why It Stands Out
Samson Mow, CEO of Jan3 and famous Bitcoin enthusiast brought to X to share Monochrome Asset Management (IBTC) Spot Bitcoin ETF it went live on the Cboe Australia stock exchange. As noted by Mow, this is the first and only Australian ETF that directly holds Bitcoin. According to previous U.Today report, the new Bitcoin spot ETF in Australia is expected to generate inflows of around $1 billion. In a short thread, Samson Mow highlighted the unique features of IBTC: First, the Monochrome spot Bitcoin ETF offers global investors direct creation or redemption in kind, which allows them to directly exchange their BTC for IBTC and vice versa , globally. Secondly, Monochrome has secured partnerships with lending providers in Australia to allow sophisticated investors to borrow money against their ETF holdings, using IBTC as collateral. According to Mow, lending through IBTC could result in a better loan-to-value ratio (LVR) and lower interest rates than traditional pure coin lending.
SHIB Skyrockets 10,990% in This Key Metric After Recent Warning from SHIB Team
Data provided by the Shibburn website shows that as of the morning of June 3, 21,435,658 SHIB tokens were transferred to dead-end wallets, with only two transactions made, taking 21,315,658 and 120,000 SHIB out of circulation. Incinerating such an astonishing amount of meme coins increased the Shiba Inu burn rate by 10,990%, which represents a more than 30-fold increase compared to the 348% SHIB burn rate increase observed on Monday and reported by Shibburn. Meanwhile, the SHIB Discord administrator known as DaVinci recently addressed the SHIB community with an important warning. He urged SHIB enthusiasts not to blindly invest in new projects on ShibaSwap DEX, even if they claim to be associated with or supported by the SHIB development team. DaVinci also warned that many malefactors are making scam offers to invest in the TREAT token, which has not yet launched.
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.