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Crypto News Digest by U.Today
Valeria Blokhina
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Here are the three main news stories of the past day presented by U.Today.
SEC Staff Sends Wells Notice to Robinhood
According to a recent send by Walter Bloomberg X user, Robinhood received a Wells Notice from the SEC. The warning was published on May 4, Street Insider relationships. The regulatory agency’s staff has reached a “preliminary determination” recommending that the SEC take enforcement action against Robinhood. According to the staff, Robinhood violated sections 15(a) and 17A of the Securities Exchange Act of 1934, which implies that Robinhood offers its customers crypto assets, which the SEC classifies as unregistered securities. This isn’t the first time Robinhood has fallen under SEC scrutiny; In December 2022, the cryptocurrency trading platform received an investigative subpoena from the SEC regarding Robinhood’s cryptocurrency listings, cryptocurrency custody, and the platform’s general operations.
Shiba Inu sets 81 million SHIBs on fire as burn rate increases by 4.085%
The data provided by the Shibburn tracker proves this Yesterday, the Shiba Inu community managed to incinerate more than 81 million SHIB tokens. This action by SHIB enthusiasts increased the burn rate by 4,085.94% in 24 hours, reducing the amount of SHIB tokens in circulation to 589,273,767,344,481 SHIB. However, the seemingly large sum of burned meme coins, 81,649,878 SHIB, is only worth $2,039, which is not enough to significantly increase the price of the underlying token. However, the increase in the Shiba Inu burn rate helps to increase the optimism of community members. It also highlights the community’s confidence that when the SHIB burn portal launches, the expected results will be achieved. At the time of writing, SHIB is trading at $0.00002383, down 1.76% over the past 24 hours, according to CoinMarketCap.
Cardano reaches 90 million transactions, an important milestone as network upgrades approach
In a recent turn of events, Cardano has registered a staggering 90 million transactions on its network, reaching a remarkable milestone. The result highlights Cardano’s growing adoption and utility, as well as its ability to support a wide range of use cases and transaction types. The timing of this milestone coincides with the upcoming launch of network updates, one of which is Ouroboros Genesis; will be rolled out as part of the Chang update that is expected to happen this summer. This allows nodes to automatically bootstrap from the Cardano network. For Input Output Global (IOG), with the release of Ouroboros Genesis, the next and final hurdle to complete P2P node operations should appear. More updates may also be on the way, including one for Plutus, the smart contract platform of the Cardano blockchain.
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.