SEC Comments on Rumors of Gensler's Resignation, Shibarium's BONE Pumping, Ripple Unlocks One Billion XRP From Escrow: Crypto News Digest by U.Today

U.Today has prepared the top three news stories over the past day.

XRP rumor mill: Is Gensler leaving? SEC issues new update

After a wave of rumors about Gary Gensler's resignation blasted the XRP community, the SEC's PR team has issued its official response. As tweeted by Eleanor Terret, prominent journalist at Fox Business, she received confirmation from the agency that the rumors about Gensler leaving his post are not true. The rumors suggested that the SEC chair would be stepping down from his position due to an internal investigation. Such a move would be unprecedented, as no SEC chair has ever resigned before.

Shibarium's BONE pumping, here are possible reasons

Yesterday, BONE, a governance token of the ShibaSwap DEX, saw almost a 10% increase in its price, to the great delight of those supporting the Shiba Inu ecosystem. There were two likely reasons for this price action, with the first being Shytoshi Kusama's recent update on the "Shibarium Tech" Telegram channel. He wrote that he is currently "too busy starting the launch process of a blockchain." Last week, the SHIB lead mentioned on Telegram that "everything is already set" and that he cannot change the date or place, as this is a part of his "launch strategy" for Shibarium. This could be the trigger for the price growth demonstrated by BONE. At the time of writing, the token is trading at $1.07, per CoinMarketCap.

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Ripple unlocks one billion XRP from escrow, here's impact on price

According to the WhaleAlert blockchain tracker, on July 1, Ripple released one billion XRP coins from escrow. The release happened in three transactions, with the first one occurring at 12:00 a.m. (UTC) and carrying a total of 300 million XRP tokens. The second transaction featured the release of 200 million XRP, while the last transaction saw the firm unlock a total of 500 million XRP tokens from its escrow accounts. According to the company's strategy that dates back to 2017, the last tranche is set to take place by December 2023. The price of XRP seems to be barely affected by the latest escrow release. At the time of writing, the token is changing hands at $0.4872, up 0.67% over the past 24 hours.