Shibarium Celebrates First Anniversary, Former Binance CEO CZ Facing New Lawsuit, 58 Million XRP Lands on Top Exchanges: Crypto News Digest by U.Today
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U.Today presents you with the top three news stories over the past day.
Shiba Inu's Shibarium turns 1; these are its key achievements
The Shiba Inu community is celebrating the first anniversary of Shibarium, Shiba Inu's layer-2 solution; in August last year, it went live, turning "Riyoshi's vision into reality." In a recent post, the team behind the Shibarium Network X handle shared its excitement about this special date and highlighted Shibarium's major achievements over the year of its existence. By now, Shibarium has processed over 417 million transactions, with over 1.8 million wallets created. Additionally, the Shibarium network has successfully executed three major hard forks, Delhi, Indore and Shanghai, with each of them bringing more functionalities. Last but not least is the launch of Hoichi, Shibarium's third-party bridge.
Gamza KhanzadaevEx-Binance CEO CZ facing new lawsuit
As shared by legal expert Bill Hughes in his recent X post, last Friday, Aug. 16, Binance crypto exchange and its former CEO Changpeng Zhao (also known as CZ) were sued by class plaintiffs in a Seattle federal court. The class action lawsuit alleges consumer harm due to Binance's money-laundering activities, accusing the defendants of putting profits before the law since they allegedly generated substantial amounts of proceeds; this allowed bad actors to make their funds untraceable. According to plaintiffs' allegations, Binance served as a depository for illicit funds that were acquired by bad actors through ransomware, malware, theft and hacking. Hughes wrote that the goal of this class-action lawsuit is to "capitalize" on government government prosecutions and enforcement actions, adding that the plaintiffs' lawyers are well credentialed.
58 million XRP in 13 hours - What's happening?
According to data provided by Whale Alert crypto tracker, the market witnessed two large lumps of XRP tokens moved to Binance and Bitstamp leading exchanges. A total of 33,000,000 XRP (worth $19,734,848) went to Binance, and 25,270,000 XRP (worth $15,191,832) entered one of Bitstamp's wallets. In total, these chunks constitute more than 58 million XRP; both of them were initiated by anonymous blockchain wallets. Many market watchers speculated on the goal of Binance's deposit, suggesting that this would be a sale made by an unknown crypto whale. However, per details revealed by Bithomp XRP-focused explorer, the Binance transaction was made internally. As for the deposit made to Bitstamp, it was conducted from a digital wallet associated with Ripple.
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