Ripple Files Lawsuit Against UK Money Transfer Service, BONE Listed by This Australian Exchange, SHIB Sees 2,180% Spike in Whale Transactions: Crypto News Digest by U.Today

U.Today has prepared summaries of the top three news stories over the past day. Stay tuned for current crypto industry events!

Ripple files lawsuit against UK money transfer service: Details

According to a recent report by Law360, Ripple's Singapore unit, Ripple Labs Singapore Pte Ltd, is suing GCC Exchange for almost €13.8 million, or $14.9 million. The lawsuit was filed in July 2023, but it was made public only recently. Per Ripple's allegations, GCC Exchange failed to pay invoices for over 40,000 transfers of XRP "units" that it withdrew within the framework of a supply deal, thus breaking the deal scored between the two entities in 2022. The defendant is required by Ripple to pay the sum of the invoices as well as the "ever-growing" amount of late fees.

BONE listed by this Australian exchange

Following the growing adoption of Shibarium, its governance token BONE scores more and more listings. In a recent post on X platform, Australian crypto exchange GroveX announced that it will add the Bone ShibaSwap token (BONE) on Sept. 8 at 7:00 p.m. AEST. The exchange has already made BONE deposits available for its users, but withdrawals will open on the day of the official listing. The meme coin will be paired to trade against USDT and BUSD stablecoins. Two weeks ago, BONE was added by Turkey-based crypto exchange ICRYPEX.

Shiba Inu (SHIB) sees 2,180% spike in whale transactions, what's going on?

Yesterday, Shiba Inu cryptocurrency witnessed a remarkable surge in large transaction volume. Data provided by IntoTheBlock reported 8.97 trillion SHIB being transferred, representing a 2,182% increase. Such increases in the volume of large transactions usually signal strong institutional player, or "whale," activity — either buying or selling. Their activity, in turn, is a reaction to recent project developments; as such, at the start of the week, SHIB developer Kaal Dhairya shared an update on Shibarium's new advancements, with one of them being Shibariumscan, offering a hosted version of Blockscout Explorer.