U.Today provides you with an overview of the past day's crypto events with the top three news stories.
Arthur Hayes shares epic Bitcoin prediction as financial storm about to hit
Arthur Hayes, the former head of major crypto exchange BitMEX, recently published an essay called "The Denominator" on his Medium blog. In the essay, Hayes tried to find the answer to the question "Who will pay for the banking crisis ignited by the Fed's deflationary policies?" He also offered two rescue options, which guarantee both safety and the potential for financial gain. These two solutions are: reducing the price of money by lowering the Fed rate or increasing the money supply, which would also lead to the "cheapening" of money. In both of these cases, Hayes sees salvation in Bitcoin and gold as a means of preserving value outside the banking system.
Shiba Inu (SHIB) big announcement imminent, here's what it might be
According to a recent tweet by SHIB enthusiast Lucie, the Shiba Inu community should await a big announcement in the near future. LucieSHIB tweeted that this week, the project's team could possibly introduce Shiba Inu's cold wallet "if everything goes well." To confirm her words, Lucie attached a screenshot showing the message from developers. Apart from information concerning the cold wallet, the screenshot contains an update on other major events for Shiba Inu, such as "organizing general AMA with Huobi Exchange, AMA with Certik, and possible partnership."
Ex-Ripple director urges El Salvador to switch to XRP
Following the growing popularity BRC-20 tokens, inscriptions and ordinals, the Bitcoin network has experienced a surge in demand, which in turn leads to higher fees for Bitcoin users. This caught the attention of journalist Marce Romero, who took to Twitter to report that, in El Salvador, he witnessed one individual having to pay $20 in fees to withdraw $100. Considering the country's average salary of $300-$350, this is a significant cost. Former director of developer relationships at Ripple Matt Hamilton replied to Romero, recommending the use of technology that is better suited for this purpose, such as XRP and the XRP Ledger. He added that getting upset about the fact that BTC does not scale and people are using it does not help anyone.