U.Today’s crypto news digest will not let you miss any of the industry’s most important events!
U.Today presents you with the top four news stories over the past day.
3 reasons why some Ethereum whales constantly buy Shiba Inu tokens
With daily announcements about the largest addresses on the market buying billions of SHIB, it is important to break down exactly why they are doing that. The first reason is whales’ desire to to take control of the asset’s circulation, with Shiba Inu remaining the biggest USD-valued position among Ethereum whales. Second, SHIB lost more than 70% of its value since the ATH, which makes the Risk/Reward ratio in the event of another rally appealing for investors. Third, SHIB has “meme potential,” which means that the asset may stage a strong rally with no fundamental reasons behind it.
James K. Filan: Here is a possible timeline of XRP lawsuit’s briefings
According to CryptoLaw founder John Deaton, San Francisco-based company Ripple and the Securities and Exchange Commission are expected to file a joint proposed scheduling order to Judge Torres today, April 22. He believes that the parties will agree to an early June deadline for motions, with responses due by the end of June. However, defense lawyer James K. Filan stated that a June timeline for briefings might not be feasible. In his opinion, a more realistic timeline for summary judgment motions would be opening briefs in either July or August and then all briefings completed by either October or November.
Cardano announces partnership to integrate on-chain KYC in compliance with regulatory requirements
EMURGO, Cardano’s commercial arm, has recently announced its partnership with Blockpass to onboard on-chain KYC in its regulatory compliance bid. This collaboration will allow Blockpass to add Cardano crypto addresses to the Blockpass app and offer on-chain KYC services for Cardano ecosystem projects, optimizing their KYC requirements. According to EMURGO, a substantial transition toward a Web3 world is underway, with decentralized applications operating and being created on Cardano’s blockchain technology, particularly in the DeFi and NFT space.
Shiba Inu dev reports 300 Welly franchise requests and more
After Shiba Inu announced its partnership with Italian fast-food restaurant Welly’s, many entrepreneurs have expressed their interest in a crypto-friendly establishment. In his recent tweet, SHIB lead developer Shytoshi Kusama shared that Shiba Inu-themed restaurant Welly’s has received more than 300 franchise applications filed by SHIB army members to enable the debut of Welly’s restaurant in their countries.
Meanwhile, one of the largest ETH whales dubbed “Bombur,” with over 749 billion SHIB, has added another 50 billion SHIB to its holdings.