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Shiba Inu Official Members Post More Mysterious Tweets, Causing Excitement About Shibarium

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SHIB holders continue to anticipate the official rollout of Shibarium.



The team behind the Shiba Inu project has continued to share mysterious tweets amid widespread anticipation of Shibarium’s official launch. In less than 24 hours, two official Shiba Inu team members, “SHIB Trophias” and ShibaKraken, shared a video and a gif of ticking clocks.

The recent tweets suggest a countdown to an upcoming Shiba Inu update. However, the team has remained tight-lipped over any upcoming Shiba Inu update, whether Shibarium or something else.

SHIB Trophias

Member of SHIB Defense Team and Co-Lead Metaverse Team shares the following tweet.

SHibaKraken

The Official member of Shib Discord, Defense Team, and Growth Team shared the following tweet.

 

SHIB Holders Think It’s About Shibarium

A Twitter user with the username @jds_updates noted that he is eager to see what happens at the end of the countdown timer. 

“Can’t wait for what happens when the clock stops ticking!” @jds_updates said. 

Interestingly, while the team has refused to attend to the community’s curiosity, Shiba Inu holders have continued to point to one thing – Shibarium. 

@partnershiba93 he is excited about Shibarium.

Another SHIB enthusiast also noted that the clock is ticking for the launch of Shibarium, a Layer-2 scaling network currently being built on the Ethereum blockchain.

Anticipation for Shibarium’s Launch

In recent times, the community believes all mysterious tweets from the Shiba Inu official team members are related to Shibarium. Recall that on December 6, Trophias updated the community that “time is ticking” for the launch of an unnamed Shiba Inu project. Trophias said the anonymous project’s version 1 design is complete, adding that the team was “finalizing the content” of the project, which will launch in phases.

As expected, SHIB holders stated that Trophias was referring to Shibarium. Dismissing these claims, Trophias said the tweet might focus on the entire Shiba Inu ecosystem, not just Shibarium.

It bears mentioning that Shibarium is among the major projects the Shiba Inu development team is focused on. Lead developer Shytoshi Kusama made this known after completing the Shiba Eternity Players’ Guide.

“In my next blog, I’ll explain what’s happening behind the scenes and why my focus now turns to Shibarium and other TREATs for the ShibArmy,” Kusama said.

The development team has so far remained silent on the official launch date of Shibarium’s public testnet, as it wants to avoid disappointing SHIB holders again. Recall that Unification, one of the teams behind Shibarium’s development, hinted in a blog post that the L2 network would roll out by the end of September. However, Shibarium did not go live as Unification promised, prompting a widespread outburst from SHIB holders.

In a bid to defend Shiba Inu from the saga, Kusama said the date did not come from the SHIB team, adding that Shiba Inu does not give dates. Following the incident, the Shiba Inu team has remained mute on the exact launch date for Shibarium.

Binance CEO Changpeng Zhao Calls Kevin O’Leary A Liar

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CZ says O’Leary is lying about many things, even as he assures users of Binance’s 1:1 reserve.


Binance chief Changpeng Zhao called Shark Tank star and serial investor Kevin O’Leary a liar in a recent interview on CNBC, per a 28-second clip shared yesterday by Watcher.Guru.

“So I think Kelvin is a liar,” CZ tells CNBC. “So I think he’s lying about a bunch of stuff.”

The Binance chief said this, explaining that it was hard to believe that O’Leary invested money in FTX without doing due diligence. Notably, O’Leary has asserted that he did not know that Binance was an FTX investor.

The statement from CZ comes as, in recent days, the Shark Tank star has continued to deflect attention to Binance in the wake of the FTX collapse. O’Leary, an FTX investor, and paid spokesperson, in a recent senate banking committee hearing, claimed that Binance is to blame for FTX’s collapse, saying the former put FTX out of business. Before that, in an interview with CNBC, the investor had pointed at the Binance buyout as a precipitating factor to FTX’s collapse.

Notably, these claims do not hold up against the weight of mounting evidence against FTX founder Sam Bankman-Fried as highlighted by Ripple CTO David Schwartz.

CZ Addresses Surge In Withdrawals Says Binance Holds Full Reserves Of Customer Deposits 

Meanwhile, during the latest interview, CZ addressed the recent surge in withdrawals from the leading crypto exchange. 

Recall that the crypto exchange processed over $3 billion in withdrawals in 24 hours at some point within the week, per data from crypto analytics firm Nansen. Many have attributed the surge in withdrawals to concerning reports that the US Department of Justice was considering filing criminal charges against the exchange and its executives. Notably, fears reached a fever pitch when the spike in USDC withdrawals forced the exchange to halt USDC withdrawals temporarily while it waited for a bank in New York to open.

Speaking on the matter with CNBC, CZ assured users that there was nothing to fear as the exchange holds full reserves of customer deposits. According to the Binance chief, the exchange can process the withdrawal of all user assets if it comes to it.

“The well-run crypto exchanges should hold user assets one-to-one,” CZ said.

“People can draw withdraw 100% of the assets they have on Binance we will not have an issue in any given day … So 100% of users withdraw 100% assets, we will be fine … In crypto, there’s no central bank printing money to bail out banks when there’s a liquidity crunch. So, crypto businesses have to hold user assets one-to-one, and that’s what we do.”

As reported on Wednesday, CZ says things have stabilized, and deposits are coming in again.

Pundit Outlines Measures that Could Take Terra Classic To $1

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Among the measures outlined by Classy is a decrease of the several proposals periodically reviewing burn tax rates.


Classy Crypto, an anonymous yet notable Terra Classic community member, has outlined a few measures the LUNC community could employ to expedite the rejuvenation campaign launched for the LUNC and can take Terra classic above $1. Classy’s recommendations come shortly after developers successfully reopen the Inter-Blockchain Communication (IBC) channel to Osmosis, as the community seeks measures to accelerate LUNC’s resurgence.

The scheme proposed consists of four recommended measures, most of which are readily achievable. Classy disclosed these recommendations Thursday on Twitter through a scheme he dubbed “How to pump LUNC.” These measures include:

Reduction of Proposals Reviewing Burn Rates

According to Classy, the community should reduce the number of proposals being launched, seeking to review or make changes to the rate of the tax burn or wallets with off-chain assets.

Following the unfavorable effects of the 1.2% tax burn rate on the trading volume of Terra Classic, the community conceived an idea to significantly reduce the burn rate to get back investor interest in LUNC, as the market experienced a dearth of investors due to the high tax burn rate. A proposal to reduce the rate to 0.2% was passed.

More Spaces to Hold Healthy Dialogues on LUNC

Investors like to feel assured that their investments are not in dead projects, and LUNC investors are no different. Classy understands this, and that’s why he has proposed that the community hold more Twitter spaces or discussion sessions to have healthy dialogues on the prospects of LUNC.

Classy believes these dialogues can help boost investor confidence and subsequently attract more investments into the asset, facilitating demand and ultimately contributing to its price action. The LUNC community remains one of the most active within the crypto space, and increasing these social activities would benefit the asset’s momentum.

Securing VC Funding from Private Organizations

Venture Capital is integral to any financial scene, including the cryptocurrency industry. Most assets are standing today because of numerous backings from VC firms. Polygon and Solana, in particular, have received funding from several firms to the tune of $451M and $315M, respectively. Classy thinks the Terra Classic chain can also benefit from such funding.

According to him, the community should solicit funding from interested organizations to bolster on-chain developments for the Terra Classic network. In addition to supporting developments, securing VC funding publicly promotes the network, as investors would like to troop into an asset receiving enough attention from notable private organizations.

Re-peg USTC and V23 Parity

TerraClassicUSD (USTC) lost its peg during the collapse of the Terra ecosystem in May and is currently trading at $0.0244 as of press time. Re-pegging USTC has always been one of the top priorities of certain community members, including Classy. 

In October, Tobias “Zarader” Andersen, a prominent Terra Classic core developer and member of the Terra Rebels group, unveiled a proposal to re-peg USTC. Zarader proposed measures to reduce the debt amassed during the Terra collapse significantly. To do this, Zarader proposed Quantitative Easing (QE). The asset surged by over 40% in response to the proposal.

Additionally, Classy highlighted the significance of the V23 upgrade and LUNC parity. The upgrade is slated to occur this month, following the reopening of the IBC to the Cosmos decentralized exchange, Osmosis which occurred on Tuesday. The V23 upgrade was initially scheduled to occur alongside the reopening of the IBC to Osmosis, but LUNC core developer Edward Kim previously passed a proposal to implement the latter first.

Proposal Passed To Allocate 937.5M LUNC To Terra Rebels

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Terra Classic Proposal Allocating 937.5M LUNC To Terra Rebels Passes Governance Vote.



Validators on the Terra Classic network have voted to approve 937.5M LUNC for Terra Rebels to make Rebel Station independent of TFL infrastructure. 

A proposal to allocate 937.5 million Terra Luna Classic (LUNC) to the Terra Rebels to make Rebel Station independent of Terraform Labs infrastructure has passed the governance vote, according to a tweet from community influencer Classy (@ClassyCrypto_).

The Terra Rebels confirmed the development in a tweet hours later. Thanking validators for their support, the independent developers’ group pledged to make contributions that would ensure the chain’s sustainability.

“Thank you to the validators and community for contracting us to secure the chains wallet interface and backend infrastructure,” the group wrote. “We look forward to providing the chain with deliverables, building out and maintaining software clients that will see lunc far into the future.”

Recall that the Rebels launched the proposal after TFL support of The Terra Station for the classic network came into question earlier this month, highlighting the risks of TFL dependence. In a bid to provide a community-owned wallet alternative, the Terra Rebels launched the proposal requesting almost $150k from the community pool. As previously reported, the proposal says it will take developers two months to separate Rebel Station from TFL infrastructure.

Despite passing the governance vote, it is worth noting that several influential voices within the community remain opposed to the proposal.

TerraCVita, a competing development group, described it as a waste of community pool funds. Contrary to the Terra Rebels’ assertion that the work will take two months, the TerraCVita says the work can be accomplished by a single developer in just a few days.

LUNCPenguins member StrathCole (@ColeStrathclyde), in a lengthy Twitter thread picking apart the proposal, expressed the opinion that it failed to give a detailed breakdown of how exactly the Terra Rebels will spend the funds. According to StrathCole, the community is better spending the money carrying out the upgrades that will make the Terra Classic chain compatible with the Interchain Station, as uncertainties over continued Terra Station support have been cleared.

Popular Community validator LUNC DAO disclosed that they could not understand the rationale of validators who voted for the proposal they believed to be vague.

It bears mentioning that TFL independence has always been in the Terra Rebels roadmap. In September, core developer Edward Kim noted that several developers hoping to help rebuild the chain were hesitant due to ties to Do Kwon and TFL.

Shiba Inu On Over 1.8M CoinMarketCap Users’ Watchlist

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Over 1.8 million CMC users track Shiba Inu price movements on CoinMarketCap.


There is no doubt that Shiba Inu is currently among the top popular cryptocurrencies in existence. Shiba Inu has a large following on social media platforms, especially Twitter. The crypto asset boasts over 3.6M followers on the popular microblogging platform.

Aside from its growing social media following, Shiba Inu’s following on cryptocurrency aggregator platform CoinMarketCap has also gained momentum. Nearly 2M CoinMarketCap users have Shiba Inu on their watchlists. According to CMC data, 1,809,792 users added Shiba Inu to their watchlist.

Shiba Inu on coinmarketcap users watchlist
Shiba Inu on Coinmarketcap user’s watchlist

The CMC Watchlist is a feature that helps cryptocurrency investors track their profits and loss on a particular asset. The feature provides CoinMarketCap users with instant price notifications on the crypto assets on their watchlists, thus informing them about the performance of the asset. Crypto traders can utilize the feature to make swift trading decisions.

Meanwhile, Shiba Inu is among the top 10 most viewed crypto assets on CoinMarketCap. Per CMC data, Shiba Inu is ranked as the seventh-most visited cryptocurrency on the aggregator platform. Shiba Inu sits above XRP, Solana, and Deep Network. However, the canine-themed cryptocurrency is behind Terra Classic, Ethereum, Binance Coin, Bitcoin, etc.

photo 5827896370562971850 x
Image source: Coinmarketcap

Growing Shiba Inu Adoption

It is not surprising to see Shiba Inu on the watchlists of many CMC users. Despite the crash of Shiba Inu price due to several political and economic events in the crypto market, including Terra and FTX collapse, investors are still not deterred from purchasing vast volumes of the asset class. In recent times, SHIB has attracted the interest of top crypto traders. Deep-pocketed investors are still in the business of scooping astounding amounts of SHIB as they continue to anticipate an imminent price surge.

As reported this week, Shiba Inu ranked as the sixth-largest cryptocurrency held by the top 100 whales on the Ethereum network. According to the data, the top 100 ETH whales hold a combined 5.76T SHIB worth around $52.83M. The massive SHIB holdings among the top 100 ETH whales come after an anonymous whale scooped 1.9T Shiba Inu tokens earlier this week.

At press time, Shiba Inu is changing hands at around $0.000008947, up 1% in the past 24 hours.

14M Shiba Inu Burnt in 24 Hours As Wallet Holding 334B Shib Burns 8.49M Coins

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Single Wallet Burns 8.49M Shiba Inu, 14M in 24 Hours.



Over 14.13 Million SHIB burned in the past 24 hours, 8.49 Million in a single transaction, and 80.39 Million in the last five days.

Shiba Inu’s burn rate jumped 371% as the Community burned over 14.13 Million SHIB in the past 24 hours. The mysterious wallet holding 333.82 Billion SHIB burned 8.49 Million SHIB in a single transaction.

Shibburn.com recently reported that the SHIB Army collectively had put a match to a total of 14,137,016 (14.13M) SHIB through seven separate transactions in the past 24 hours.

As a result, Shiba Inu’s burn rate jumped by 371.23% compared to the last day.

Shiba Inus Burn Rate Surges 371 Percent Over the Last Day
Shiba Inus Burn Rate Surges 371 Percent Over the Last Day

The significant burn transaction of the day is performed by the mysterious wallet holding 333.82 Billion SHIB. The mysterious wallet removed a whopping 8,495,098 (8.49M) SHIB from circulation forever in a single transaction performed about 9 hours ago from press time.

Etherscan.io data reveals that the mysterious wallet is one of the notable investors of Shiba Inu as it still holds a staggering 333,826,144,153 (333.82B) SHIB, worth $2,984,405 ($2.98M).

The Mysterious Wallet Holding 333.82 Billion SHIB Burned 8.49 Million SHIB
The Mysterious Wallet Holding 333.82 Billion SHIB Burned 8.49 Million SHIB

Total SHIB Burned Since December 12, 2022:

Since December 12th, the Shiba Inu Community incinerated a total of 80,394,970 (80.39M) SHIB through 29 separate transactions. The biggest SHIB Burn in the past five days was recorded on December 13th when a humungous 42,842,867 (42.84M) SHIB was sent to the “inferno” addresses through six separate transactions.

Top U.S. Rep Makes Shocking Claims, Says SEC Arrested SBF to Stop Congressional Hearing

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Top U.S. Rep Makes Shocking Claims About SBF’s Arrest, Indicts Gary Gensler and SEC.


Rep. Davidson said SBF was arrested hours before the congressional hearing because Gary Gensler did not want him to answer questions about the SEC’s failed oversight.

U.S. Rep. Warren Davidson (R-OH), a member of the Financial Services Committee (FSC), has commented on the timing of the arrest of disgraced FTX founder Sam Bankman-Fried (SBF).

According to Rep. Davidson, Bankman-Fried was arrested hours before the Congressional hearing because the Securities and Exchange Commission and other regulators did not want Congress members to ask him about their “failed [regulatory] oversight.”

Speaking at a recent interview with Newsmax, Rep. Davidson said SEC’s Gary Gensler’s cozy relationship with Alameda Research and Bankman-Fried played a big part in the timing of his arrest. Warren Davidson believes that SBF was arrested before the Congressional hearings this week because the SEC and other regulators did not want to allow Congress to ask Sam about their failed oversight.

“The best theory I have is that the SEC and other regulators didn’t want SBF to give his version of ‘so what were you doing with Gary Gensler in the Securities and Exchange Commission with all these meetings and interactions you’ve had with regulators?” Rep. Davidson said.

Davidson added that SBF would have answered the question from his own perspective.

“He would have given his own side [to the question]. The regulators, the SEC, Gensler, and others would not have been able to filter the questions. They didn’t know where it would go. I think that was part of what drove some of the timing of the arrest,” the FSC member said.

 

Reacting to Davidson’s claims, Crypto Law founder attorney John Deaton described the comments as an interesting perspective from a sitting member of Congress.

“Very interesting perspective from a sitting member of Congress who sits on the FSC.”

SBF Arrested Hours Before Scheduled Congressional Hearings

Recall that SBF was arrested earlier this week on fraud and money laundering charges. The arrest comes hours before the FSC’s scheduled congressional hearing. In a Twitter Space, Bankman-Fried stated that he would not attend the committee hearing in person due to the “large paparazzi effect.” However, SBF disclosed that he would attend the hearing virtually.  

SBF had previously attempted to turn down his invitation to the Congressional hearing scheduled by the FSC. The founder of the now-bankrupt exchange claimed he was still learning about what caused the crypto trading firm’s collapse.

Reacting to the tweet, Maxine Waters, chair of the House Committee on Financial Services, said Bankman-Fried must attend the hearing due to the damage the incident caused U.S. investors. She further threatened to subpoena Bankman-Fried should he refuse to attend the hearing.

XRP Holders Attorney Deaton Dives into SEC vs. LBRY Case, Files Amicus Brief Supporting LBRY

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SEC vs. LBRY: Deaton And Gannon Submit Request To File Amicus Brief On Behalf Of Naomi Brockwell.


Attorneys John E. Deaton and Bill Gannon have submitted a request to file an amicus brief on behalf of Naomi Brockwell in support of LBRY’s Motion To Limit The Remedies against the US Securities and Exchange Commission.

Defense lawyer James K. Filan, whom Deaton thanks for offering “guidance,” was the first to share the request on Twitter yesterday.

Deaton’s CryptoLaw also shared the document submitted to the court minutes later.

The 30-page document (tables included, with an amicus brief taking up only eight pages) seen by The Crypto Basic seeks to clarify the secondary sales of LBRY Credits (LBC). While the court, in a status conference on November 21, had urged the SEC to provide clarity on the secondary sales of the token in such a way that holders could continue to use it without fear of restrictions, the SEC had failed to do so prompting LBRY’s Motion To Limit The Remedies against the SEC.

Consequently, in support of LBRY’s motion, the brief urges the court to make a ruling that permits the sale of LBC by individuals unaffiliated with LBRY. In addition, it urges decisions from the court to allow the “consumptive” use of LBC

“Despite this Court’s strong recommendation to provide clarity, the SEC either disagrees or prefers regulatory uncertainty regarding secondary market transactions,” Deaton and Gannon write. “Therefore, any potential injunction issued by this Court, should expressly permit secondary market sales of LBC by persons unaffiliated with LBRY. Likewise, any potential injunctive relief should expressly allow the continued consumptive use of LBC.”

It bears mentioning that in early November, the court ruled in favor of the SEC’s summary judgment motion conceding that LBRY offered and sold unregistered securities in the form of LBC tokens. However, the extension of this ruling by the SEC to people like Naomi Brockwell, who has never bought or sold LBC but received it and used it for content on the platform from other users, would be harmful to consumers, argued the attorneys in the amicus brief.

In support of their claims, Deaton and Gannon argue that even if LBRY offered and sold an investment contract, its impending dissolution nullifies such a contract. In addition, the lawyers highlight that the courts have never held that the underlying token of an investment contract alone constitutes security. Consequently, they assert that it would be problematic to do so here.

The document discloses that the SEC did not object to the filing. If the court approves, the regulator will have seven days to respond.

Deaton also said: “I challenge anyone to read it and then try to classify the #LBC acquired by Naomi Brockwell as securities. It can’t be done. Even the most ardent SEC backer will concede that not a single Howey factor is satisfied.”

For many, the LBRY case like that against Ripple highlights the lack of regulatory clarity in the crypto space on what constitutes a commodity or security. While some believe that the court ruling in favor of the SEC in the case against LBRY is indicative of the outcome in the Ripple case, Deaton argues otherwise, as reported by The Crypto Basic.

Donald Trump Launches Limited NFT Collection

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Trump has unveiled a limited NFT collection that sells for $99 apiece.

Former United States president Donald Trump has unveiled a limited non-fungible token (NFT) collection on his Truth Social account. The collection, dubbed the Donald Trump Digital Trading Card, will be minted on the Polygon network. The immediate past United States president described the trading card as a “great Christmas gift” for his supporters.

“[It] would make a great Christmas gift. Don’t Wait. They will be gone, I believe, very quickly!” he said in a statement on his Truth Social account.

Details of Trump’s NFTs

A total of 45,000 NFTs have been created for the initial run of the collection. According to the collection’s website, each piece sells for “just $99.” Notably, the trading cards are associated with a series of sweepstakes bonuses.

“With Every Digital Collectible you Buy, You’re entered into the Trump Sweepstakes,” the collection website stated.

Some prizes attached to the trading cards include a 1-on-1 Zoom call with Trump, a one-hour golf time with the former United States president, a dinner in Miami with Trump, etc. Interestingly, anyone who purchases 45 trading cards is guaranteed to attend a Gala Dinner with the former U.S. president in South Florida.

Steps to Purchasing Donald Trump’s Digital Trading Card

The collection’s website outlines three steps people can follow to purchase the digital collectible:

  • Storing Trump’s Cards

According to the collection’s website, non-crypto enthusiasts need an email to create a wallet to store the digital collectible. However, existing crypto users can connect their Metamask wallet to have the NFT sent to them after a successful purchase.

  • Purchasing the Trading Cards

You will be required to select the number of cards you want to purchase and choose your preferred payment method. Users can pay for the digital collectibles using their credit cards or make payments with Ethereum (ETH), the world’s second-largest crypto.

  • Receive your Cards

The trading cards, alongside your Sweepstakes code, will be sent to your wallet after successful payment.

Third-Largest Crypto Exchange Lists Floki Inu

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OKX has listed Floki Inu’s governance token, FLOKI.


Leading Seychelles-based cryptocurrency exchange OKX has listed the prominent meme-based token Floki Inu (FLOKI) for spot trading.

“FLOKI, the utility token of the community-powered Floki Inu gets listed on OKX,” the exchange said in an announcement. 

OKX, which acknowledged FLOKI as the “people’s cryptocurrency,” said it had opened deposits for the meme-based token. OKX users can start depositing their FLOKI tokens in preparation for spot trading scheduled to go live tomorrow, December 16, at 10:00 AM (UTC).

According to the exchange, FLOKI trading will go live under two spot trading pairs, FLOKI/USDT and FLOKI/USDC.

FLOKI Holders’ Reactions

The announcement sparked widespread jubilation among members of the Floki Inu community. FLOKI holders took to the comment section to react to the token’s listing on OKX. Below are few comments:

FLOKI Soars 14%

The listing of FLOKI on OKX reflected positively in the price of the crypto asset. While other crypto assets continue to react negatively to Fed’s recent interest rate hikes, FLOKI is up 14% in the past 24 hours. FLOKI’s massive surge indicates that holders are excited about OKX listing the cryptocurrency. At press time, FLOKI is changing hands at $0.00001078, with a 24-hour trading volume of $3.92M.

According to Coingecko data, FLOKI is ranked as the 218th-largest crypto by market capitalization, with a market cap of $101.48M.

OKX Ranked 3rd Largest Exchange

It is unsurprising to see FLOKI holders jubilate massively to the news. Per Coingecko data, OKX is ranked as the third-largest cryptocurrency exchange by 24 hours trading volume. The exchange boasts a 24-hour trading volume of $1.12B and a trust score of 10.

Launched in 2017, OKX is considered a suitable trading platform for crypto traders due to its low trading fees of 0.10% and advanced security techniques. It bears mentioning that OKX is currently unavailable in the United States, Singapore, Malaysia, Crimea, Syria, Cuba, Iran, etc., due to regulatory reasons. However, OKX still serves millions of monthly customers from other parts of the world.

Meanwhile, FLOKI has been listed on major cryptocurrency exchanges this year. In June, TheCryptoBasic reported that two Singapore-based crypto exchanges, Bybit and BitWell, listed FLOKI following the widespread popularity of the cryptocurrency.