Crypto News Digest by U.Today

Don’t miss anything happening in the world of crypto with U.Today’s top three news stories over the past day.

Shiba Inu: Shibarium surpasses enormous milestone as new SHIB era begins

As the beginning of the new SHIB era approaches, Shiba Inu Layer 2 Shibarium’s beta has delighted the meme coin community with good news. According to the latest on-chain data by Puppyscan, the total number of transactions on “Puppynet” has reached 30,532,192 at the moment of writing, reaching an impressive milestone. The number of blocks processed by Shibarium beta Puppynet has increased as well and currently stands at 1,743,638. Meanwhile, the official Twitter handle of Shiba Inu has announced the arrival of the “summer of Shibarium,” with SHIB lead Shytoshi Kusama announcing the revamping of the official SHIB website and other SHIB army websites. The “summer” does not end there, as the community is anticipating the Blockchain Futurist Conference scheduled to take place in Toronto on Aug. 15-16, 2023, with Shiba Inu as one of its official title sponsors.

XRP community is a “cult,” says Fox Business anchor

Charles Gasparino, Fox Business anchor, accidentally started a heated discussion with the members of the XRP community after a tweet he posted yesterday. In the tweet, Gasparino called the supporters of the Ripple-affiliated token a “cult”, saying, “When I wrote what XRP crowd loved they called me a hero. When I reported a few things they hate, I’m public enemy No 1.” The Fox Business anchor’s tweet comes amid the ongoing legal battle between Ripple and the SEC, in which the former is facing potential fines of up to $1 billion. In a recent series of tweets, Gasparino questioned Ripple’s strategy to handle this substantial sum. He stated that the company might need to either dip into its $1 billion cash reserves or dilute its XRP holdings.

American banks may tap XRP for cross-border payments: Ripple CLO

Following a recent ruling by Judge Analisa Torres, in which she declared that XRP is not a security, Ripple’s general counsel Stuart Alderoty shared a very optimistic forecast for the company, as he stated that U.S. banks may soon start using XRP coin for cross-border payments. In the latest interview with CNBC, Alderoty said that starting in the third quarter, Ripple will begin pitching its On-Demand Liquidity (ODL) service to U.S. banks. XRP started being viewed as a crypto for payments in the U.S. only now, as the regulatory uncertainty caused by the SEC lawsuit pushed many away. However, at the moment, Alderoty is certain that the lawsuit will help onboard many new financial players. While the SEC may possibly appeal the latest ruling, the clarity XRP has gotten so far is enough to maintain its stability in the near future.