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Shytoshi Kusama Issues Major Warning on Shibarium, Top Lawyer Reacts to Ripple CEO's Prediction on When XRP Case Ends: Crypto News Digest by U.Today

Fri, 05/12/2023 - 16:04
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Valeria Blokhina
Take a closer look at what’s happening in the world of crypto with U.Today’s news digest!
Shytoshi Kusama Issues Major Warning on Shibarium, Top Lawyer Reacts to Ripple CEO's Prediction on When XRP Case Ends: Crypto News Digest by U.Today
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Here are the top three news stories presented to you by U.Today.

Shytoshi Kusama issues major warning to SHIB community on Shibarium

In a gesture of care about the safety of SHIB enthusiasts' funds, SHIB lead Shytoshi Kusama made a major announcement on his "Shibarium Tech" Telegram channel. Kusama warned that Shibarium is currently in beta test mode and urged users not to buy any tokens as not all tokens on Puppynet are real and are for testing purposes only. No real tokens are being burned so far, he added. Apart from that, the SHIB lead promised that he and his team will soon provide "many updates" as they "move forward on many fronts." Kusama also added that he and other developers are as excited about Shibarium's progress as the Shib community is.

Ripple v. SEC to end next month? Top lawyer reacts to Ripple CEO's prediction

During his appearance at a recent fintech summit in Dubai, Ripple CEO Brad Garlinghouse has provided a fresh perspective on when the legal battle between the fintech giant and the SEC might come to an end. Garlinghouse believes the case might be resolved in the next two to six months, hoping that it will happen before Q3. The Ripple CEO's forecast got the attention of pro-crypto lawyer Bill Morgan. He stated that Garlinghouse's estimate of two to six months for the resolution of the SEC case against Ripple is likely accurate, and it could even be resolved next month. Morgan suggested that the Ripple CEO's prognosis may be based on details provided by the crypto company's attorneys, which makes it a better-educated guess than others.

Legendary trader warns of potential Bitcoin collapse

In a recent tweet, prominent trader Peter Brandt expressed his concerns about Bitcoin's potential collapse as the flagship cryptocurrency showed a "head and shoulders" pattern on its daily chart. "A head and shoulders should be taken seriously if it is completed," reads Brandt's post. The completion of this pattern, which Brandt suggests Bitcoin is approaching, often indicates that a security's price is set to fall, implying that Bitcoin could be on the verge of a significant downturn. At the moment of writing, BTC is changing hands at $26,343, down almost 3% over the past 24 hours, per CoinMarketCap.

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About the author

Valeria is the community manager at U.Today. She is a crypto enthusiast and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news in the world of crypto and blockchain.