Solana
Crypto News Digest by U.Today
Valeria Blokhina
Make sure you’re up to date with the latest happenings in the crypto industry with U.Today’s news roundup!
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Here are the top three news stories from the past day presented by U.Today.
Shiba Inu (SHIB) Joins the Ranks of Major Solana-Centric Exchanges
Backpack, a popular crypto exchange, recently made an X announcement regarding SHIB trading I will live on its platform. The announcement was republished by the official Shiba Inu X handle; The team behind the SHIB account called their followers to verify the new announcement, thanking the exchange for supporting the SHIB community. Backpack launched in 2024 with a focus on the Solana ecosystem, which has proven to be successful, driving platform growth and attracting significant investment. The SHIB listing not only became another milestone in the adoption of the dog-themed meme token, but also opened it up to Solana enthusiasts. At the time of writing, SHIB is changing hands at $0.00002436, down 3.40% in the last 24 hours, according to CoinMarketCap.
Ripple forms coalition with crypto heavyweights, CEO excited
In a recent Messagefintech giant Ripple announced that it was teaming up with industry heavyweights as part of the formation of a new “Tech Against Scams” coalition. Alongside the Global Anti-Scam Organization and leading technology companies such as Coinbase, Match Group (the parent company of Tinder and Hinge), Meta, Kraken and Gemini, Ripple will combat online fraud and financial schemes that target consumers across all sectors. Brad Garlinghouse, CEO of Ripple, turned to social media to approve the company’s decision to be part of the anti-fraud alliance. “There’s one thing we can all agree on in the tech industry: it’s high time to take down the scammers once and for all. Proud that Ripple is joining this coalition alongside other tech heavyweights industry,” Garlinghouse wrote.
Explosive 17,400% increase in Bitcoin noted by Gabor Gurbacs, here is the question he asks
Gabor Gurbacs, strategic advisor to Tether and VanEck, attracted attention to the exceptional increase in the value of Bitcoin over the last 10 years. In his Message, Gurbacs wrote that during this period, the price of BTC jumped 17,400%, from $400 to the current level of $70,000. While many market participants would reasonably ask what happened to the flagship crypto that helped it reach such heights, the advisor says that is the wrong question; rather we should ask ourselves what happened to the American dollar. It is common knowledge that Satoshi Nakamoto created Bitcoin following the 2009 mortgage market crisis to guard against similar upheavals that might occur in the future. At the time, the Federal Reserve had begun printing money to bail out big banks and corporations. The same situation occurred again during the banking crisis in Cyprus and then in 2020, when the pandemic broke out. That year alone, the Fed printed $3 trillion, contributing to the continued devaluation of the U.S. dollar.
About the Author
Valeria Blokhina
Valeria is the Community Manager at U.Today. She is passionate about crypto and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news from the world of crypto and blockchain.