SHIB Scores Listing on Major Solana-Centered Exchange, Ripple Forms Coalition With Crypto Heavyweights, Gabor Gurbacs Notes Bitcoin's 17,400% Surge: Crypto News Digest by U.Today

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

Shiba Inu (SHIB) joins ranks of major Solana-centered exchange

Backpack, a popular crypto exchange, has recently made an X announcement about SHIB trading going live on its platform. The announcement has been reposted by Shiba Inu's official X handle; the team behind the SHIB account called its followers to check the new listing out, thanking the exchange for supporting the SHIB community. Backpack was launched in 2024 with a focus on the Solana ecosystem, which has proven fruitful, fostering the platform's growth and attracting significant investment. The SHIB listing has not only become another adoption milestone for the dog-themed meme token but also opened it up to Solana enthusiasts. At the moment of writing, SHIB is changing hands at $0.00002436, down by 3.40% over the past 24 hours, per CoinMarketCap.

Ripple forms coalition with crypto heavyweights, CEO excited

In a recent X post, Ripple fintech giant announced that it is teaming up with major industry heavyweights as part of forming a new "Tech Against Scams" coalition. Along with the Global Anti-Scam Organization and such leading tech firms as Coinbase, Match Group (the parent firm of Tinder and Hinge), Meta, Kraken and Gemini, Ripple will be fighting online fraud and financial schemes that target consumers across industries. Brad Garlinghouse, CEO at Ripple, took to social media to endorse the company's move to become part of the anti-fraud alliance. "There’s one thing all of us in tech can agree on – it’s high time we dismantled the scammers once and for all. Proud that Ripple is joining this coalition along with other industry heavyweights," wrote Garlinghouse. 

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Explosive 17,400% Bitcoin surge noted by Gabor Gurbacs, here's question he asks

Gabor Gurbacs, Tether and VanEck's strategic advisor, has brought attention to Bitcoin's outstanding increase in value over the past 10 years. In his X post, Gurbacs wrote that over that period, BTC's price surged by 17,400%, from $400 to the current $70,000 level. While many market participants would reasonably ask what happened to the flagship crypto that helped it climb to such highs, the advisor argues that this is not the right question; rather, one should be asking what has happened to the U.S. dollar. It is common knowledge that Satoshi Nakamoto created Bitcoin following the 2009 mortgage market crisis as a hedge against similar shake-ups that could occur in the future. Back then, the Federal Reserve started printing money to bail out large banks and corporations. The same situation happened again during the banking crisis in Cyprus and then in 2020, when the pandemic started. That year alone, the Fed printed $3 trillion, which contributed to the ongoing devaluation of the U.S. dollar.