SEC Veteran Teases Potential Appeal Path in Ripple Case, 337 Billion SHIB Moved in 24 Hours, Ethereum's Buterin Makes Major ETH Transfer to Kraken: Crypto News Digest by U.Today

Here are the top three news stories over the past day presented to you by U.Today.

Ripple: SEC veteran teases potential appeal path in lawsuit

Following last week's final judgment that put an end to the Ripple-SEC lawsuit, the crypto community could not but start wondering whether the regulatory agency is going to attempt to appeal the ruling. Marc Fagel, a former SEC regional director, has recently shared his take on what such an appeal may entail, should one take place. In a response to X user @kkirkbos, Fagel pointed to the fact that the SEC won on the issue of institutional sales, whereas Ripple scored a victory on "programmatic" sales - those conducted through third-party intermediaries - where the court ruled that these sales did not constitute an unregistered securities offering. In Fagel's opinion, in case the regulatory agency seeks an appeal, it may attempt to challenge the decision concerning programmatic sales. Fagel also added that should the SEC move forward with an appeal, Ripple is likely to cross-appeal the ruling on institutional sales.

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337 billion Shiba Inu (SHIB) in 24 hours, What's happening?

As the consolidation period continues, the SHIB price is experiencing a decrease. Currently, the Shiba Inu token is down 4.67% over the past 24 hours, changing hands at $0.00001309, according to CoinMarketCap. Amid this ongoing struggle, a major development has occurred that could indicate a possible turnaround from this point. Data provided by CryptoQuant shows a significant surge in SHIB exchange outflows. On Aug. 14, more than 337 billion SHIB tokens were moved out of large crypto exchanges. Based on this data, whales have been buying the dips, while SHIB has been trading at lows. Buying activity such as this can help the meme currency sustain the bearish pressure and initiate an upward trend; thus, this is a major bullish indicator.

Ethereum’s Vitalik Buterin makes major ETH transfer to Kraken

Lookonchain cryptocurrency analytics platform has recently spotted Ethereum cofounder Vitalik Buterin depositing 200 ETH worth $534,000 to the Kraken exchange. Previously, Buterin made a transfer on Aug. 9, when he moved 3,000 ETH ($8.05 million at the time the transfer took place) to a multi-signature safe wallet. Per Lookonchain's suggestion, that this could be a donation. On Aug. 5, the Ethereum cofounder also moved 3,000 ETH (worth $7 million at that time) to another wallet. It is believed that Buterin holds roughly more than half a billion dollars worth of ETH. He also sold all of his Neiro tokens for $112.5 in ETH at the beginning of August. Buterin received a 4% share of the token's supply from the Neiro team.