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The Community Traces 317K BTC As It Attempts To Identity Grayscale Reserves

Mark Brennan
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The Community Traces 317K BTC As It Attempts To Identity Grayscale Reserves

The community takes things into its hands as Grayscale refuses to provide proof of Reserve.

@ErgoBTC, AKA Ergo, a blockchain researcher with OXT Research, disclosed findings from a community-led effort to trace Grayscale’s Bitcoin Trust (GBTC) reserves in a Twitter thread yesterday. 

Per the analysis, Ergo reveals that they have identified 432 addresses holding about 317,705 BTC, likely part of the GBTC reserves. It is worth noting that the team started its analysis around July 2019, when Grayscale moved custody of its assets to Coinbase from Xapo.

Grayscale declined to release a proof-of-reserves in response to community demands citing security concerns inspiring the effort from Ergo.

In the wake of the FTX collapse, the crypto community speculates that Digital Currency Group, the parent company of Genesis Trading, Grayscale, and CoinDesk, is the next domino to fall. 

It comes after Genesis Trading, arguably crypto’s biggest lender announced its decision to halt operations despite receiving a capital infusion from DCG to cater for the loss of $175 million in assets in the FTX collapse. However, a Wall Street Journal report cites illiquid assets in its balance sheet as the reason for halting withdrawals. The report also indicates it sought $1 billion in capital to resume operations.

Genesis is seen as the go-to for institutions and whales looking to lend crypto to earn yield. Consequently, several industry pundits have asserted that a Genesis collapse could have a bigger ripple effect than FTX. Already, Gemini has been forced to halt its earn program.

In light of recent information, users speculate DCG itself may be insolvent. According to North Rock Digital founder Hal Press, the size of funds required indicates that the liability lies with DCG. Consequently, users have also called to question the health of the Grayscale trust. 

Notably, Coinbase released a letter today to assure users of the safety of Grayscale assets in its cold storage wallets. 

“Coinbase Custody Trust Company, LLC  (Coinbase Custody) writes to you to reaffirm that the assets underlying all of Grayscale’s digital asset products held at Coinbase Custody, as listed in the table below, are secure,” 

Furthermore, it asserts that each user’s assets are kept separately to avoid mixing user assets. 

“Coinbase Custody always ensures that each client’s digital assets are segregated on-chain, in deep cold-storage,  from both the property of  Coinbase  Custody and the assets of other  Coinbase  Custody clients,” Coinbase writes. “This means that the digital assets underlying each Grayscale product will never be commingled with or confused for the digital assets of any other client. This also means that the  digital assets of each Grayscale product can be confirmed on-chain.”

Despite these assurances, the community continues to frown at the refusal of the exchange to reveal the wallet addresses. 

Messari founder Ryan Selkis in a tweet today, asserted that this week is likely to be a turbulent one for DCG and its subsidiaries.

GBTC continues to trade at a 43% discount to the actual Bitcoin price indicating investor bearishness.

LuLuFin And SpendTheBits Win Huge Ripple Recognitions

Mark Brennan
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LuLuFin And SpendTheBits Win Huge Ripple Recognitions

Ripple recognizes LuLuFin and SpendTheBits for innovation.



Ripple has recognized LuLu Financial Holdings (LuLuFin) and SpendTheBits for innovation, as Ripple Swell 2022 concludes.

Notably, LuLuFin received recognition as the winner in the Network Accelerator category of the Blockchain Innovation Awards held at the annual Ripple Swell conference, per a press release on Sunday. The firm is one of the early adopters of XRP for business solutions through Ripple’s On-Demand Liquidity (ODL) service. 

LuLuFin has interests in the Philippines, Hong Kong, and Singapore, with its holding company based in Abu-Dhabi. Per the press release, the primary services offered by the company include cross-border payments, currency exchange, and wholesale banknotes.

“It is a proud moment for all of us at LuLu Financial Holdings to be recognized with the coveted Network Accelerator award,” Mr. Adeeb Ahamed, Managing Director of LuLu Financial Holdings, said, accepting the award for the company. “As early adopters of Ripple’s XRP for B2B applications, the On-Demand Liquidity (ODL) facility has helped us optimize fund management in our APAC corridor within permissible regulatory frameworks.”

Mr. Ahamed asserted that the company remains committed to making cross-border payments seamless for users while benefiting its partners.

SpendTheBits Win Interoperability Category In Ripple’s CBDC Hackathon 

Meanwhile, SpendTheBits also tweeted yesterday that it had been recognized as the winner of the interoperability category in Ripple’s CBDC hackathon.

Notably, users have rushed to congratulate SpendTheBits CEO Jaskaran Kambo and his team for the achievement.

Attorney John E. Deaton asserted that there is no better category.

Both recognitions come as Ripple continues incentivizing real-world solutions utilizing the XRP Ledger. As reported by The Crypto Basic on November 17, Ripple chief Brad Garlinghouse expects crypto to stage a strong comeback on the back of these real-world use cases.

The blockchain payments company is now looking to extend its services to Europe as it seeks a virtual asset service provider (VASP) license in Ireland.

Terra Station To Support Other Cosmos Blockchains Including Terra Classic

Mark Brennan
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Terra Station To Support Other Cosmos Blockchains Including Terra Classic

 

Do Kwon Reaffirms Terra Station Support For Terra Classic.


Do Kwon confirms support for Terra Classic (LUNC) as he works to onboard other Cosmos chains.

Do Kwon has made his intention to offer Terra Station support to other Cosmos blockchains known in a tweet on Sunday.

Consequently, the embattled Terra founder requested direct messages from interested core development teams in the ecosystem. The service will be free per a follow-up tweet.

Notably, Kwon confirmed that Terra Luna Classic (LUNC) and the Terra Classic network would remain supported as Terra Station transitions into an interchain wallet for the Cosmos ecosystem.

“Yes, yes, LUNC supported,” Kwon tweeted.

Unsurprisingly, the development has been met with mixed responses. While some have celebrated the continued support from Terraform Labs, others have pointed out that they still do not trust the Terra founder.

As noted by a user, the multi-chain integration with Terra Station appears to be the first step for Do Kwon’s “Interchain Alliance.” Notably, Do Kwon has proposed three solutions to ensure the sustainability of smaller Cosmos chains:

  • Interchain Alliance 
  • Feather 
  • Interchain Station & Finder 

Alliance aims to strengthen the economic security of smaller chains by leveraging the users and assets of more established chains. The idea is relevant as more decentralized apps opt to build their chains but fail due to the difficulties of building and running a blockchain or a perceived lack of economic viability.

Notably, the Alliance developer’s kit will allow assets from established chains to be staked on a newer chain. Consequently, the new blockchain offers users of established blockchains an avenue to get greater yield in exchange for economic security.

The Interchain integration on Terra Station will likely allow seamless governance and staking experience across these chains.

On the other hand, Feather promises to make blockchain deployment as easy as a feather when it launches.

While it appears to be a practical approach to increase interoperability amongst Cosmos chains and support smaller chains, like many in the LUNC community, members of the Cosmos ecosystem are skeptical.

Akash Network founder Greg Osuri expressed the sentiment that he is not yet willing to forgive the damage Do Kwon’s failed stablecoin did to the Cosmos ecosystem.

Despite these concerns, others have highlighted that Terra Station is probably the best wallet in the Cosmos ecosystem. The wallet notably received high praise from respected Cosmos developer Joecob Gadikian, who lauded the user-friendliness and the underlying code.

It bears mentioning that the proposed multi-chain integration puts Terra Station in direct competition with Keplr, an interchain Cosmos wallet. While Do Kwon is offering free integration, a user pointed out that Keplr may be charging as high as $400k for integration. The Crypto Basic is yet to confirm this, but a previous outburst by the Kujira team disclosed the price was $360k.

The Terra Classic community has continued to use the Terraform Labs-controlled wallet despite taking over the reins of the chain. But the Terra Rebels have hinted at working on a Terra Station alternative called “Rebel Station” should the need arise to become completely independent of TFL infrastructure.

Binance CEO Says “Bitcoin Not Dead, We Are Still Here”

Albert Brown
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Binance CEO Says “Bitcoin Not Dead, We Are Still Here”

Binance’s CZ Says Bitcoin is Not Dead Amid the Steadfast Crypto Winter.


CZ recently reiterated that bitcoin is not dead, as the community is still actively involved amid the prevalent Crypto Winter.

CEO of Binance, Changpeng Zhao “CZ” , recently reaffirmed bitcoin’s resilience against the steadfast Crypto Winter and the crypto critics looking to bring it down, as he noted that the asset is still alive despite past and recent hurdles on its journey to global adoption.

“Bitcoin is not dead. We are still here,” CZ remarked in a tweet Sunday despite the panic triggered by the latest capitulation event within the crypto scene that has battered the asset to lower lows. CZ’s remarks also come amid the FUD provoked by the recent FTX implosion.

 

The comment has sparked several reactions from the crypto community, with most responses disclosing positive convictions as proponents stand in solidarity with CZ. Notably, co-founder of MicroStrategy and prominent bitcoin maximalist Michael Saylor received CZ’s proclamation well, as he highlighted bitcoin’s significant role in the quest to build a better world.

“Bitcoin is an immortal, indestructible, incorruptible foundation upon which to build a better world,” Saylor commented in response to the Binance Chief’s recent remark.

 

The FTX collapse, which has so far resulted in investor losses to the tune of billions, is the latest massive implosion the cryptocurrency community is experiencing this year, following Terra, 3AC, Celsius, and Voyager, among others.

The FTX debacle has especially dealt a huge blow to investor confidence, making several questions about the wisdom of investing in crypto. Notwithstanding, the industry remains standing as others look to rebuild. Binance and CZ, in particular, have been active in mitigating the contagion.

CZ made a similar statement when he introduced Binance’s Industry Recovery Fund. “Crypto is not going anywhere. We’re still here. Let’s rebuild,” the Binance Chief said in a tweet last Monday, as he called for other entities to show support for its Industry Recovery Fund initiative.

Recall that CZ disclosed on November 14 that Binance would launch an “Industry Recovery Fund,” which will assist projects that are otherwise strong but caught up in a liquidity crunch, especially due to the FTX implosion. The 45-year-old Chinese-Canadian business executive noted that the initiative is aimed at palliating the effects of the FTX contagion.

Several notable entities within the crypto space have pledged support for the initiative, including Tron’s Justin Sun and Simon Dixon, CEO of FinTech investment platform BankToTheFuture.

CZ recently called for greater regulatory clearance for the industry, as that would help reduce risks of a reoccurrence of the FTX situation.

Speaking on a CNBC Squawk Box episode last Wednesday, Ripple CEO Brad Garlinghouse also highlighted the cryptocurrency industry’s resilience against these hurdles. According to Garlinghouse, the industry will certainly recover despite this current downturn. He reiterated that these downturns are not abnormal, as the market is not all “sunshine and roses.”

Meanwhile, BTC and the rest of the markets have been battered to shocking lows amidst the panic. With a current value of $16K, Bitcoin is currently trading at a low last witnessed in November 2020. Notwithstanding, this would not mark the asset’s first crash, as a similar situation had materialized in previous bear markets, with the markets recovering afterward.

Down 4.19% in the past 24 hours, BTC is currently trading at $16,015 following a rejection faced when the asset attempted to reclaim the $18K territory on November 10.

Disputes Emerge Among Terra Classic Developers After LUNC Casino Code Theft Controversy

Mark Brennan
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Disputes Emerge Among Terra Classic Developers After LUNC Casino Code Theft Controversy

Terra Classic Casino Launch Highlights Differences Among Developer Groups.



A casino is set to launch on the Terra Classic network, but conflicting claims and accusations try to split the community.

Rex Harrison, AKA Rexzy, a senior member of the independent Terra Classic development group TerraCVita in a tweet on Saturday, confirmed the launch of a casino on the network.

In the tweet, Rexzy unveiled the casino and OWLDAO, the 7th largest decentralized app in crypto, as the partner behind the casino.

Unsurprisingly, the community excitedly received the new development, but this was before @terra_casino, AKA TerraCasino.Money accused Rexzy and the TerraCVita of stealing their launch and vendor partners.

The group claims to have sought help from Rexzy during the review process with OWLDAO. As implied, they allege that they reached an agreement with Rexzy to use his influence to ensure cooperation with OWLDAO, but Rexzy went behind their backs to steal the partnership.

The long thread by TerraCasino.Money attracted responses from key Terra Rebel members, seemingly pitting the Terra Rebels against the TerraCVita. In response to the thread, Tobias Andersen, AKA Zaradar, mentioned Rexzy in a tweet with the phrase, “Not Cool.” It also got a retweet from Vegas.

Rexyz on the other side said that Zaradar made an opinion without knowing the facts.

 

However, several other users raised concerns about the lack of proof from TerraCasino.Money to back its claims.

OWLDAO Debunks The Allegations 

In response to the claims by TerraCasino.Money, OWLDAO released a medium blog to clarify the situation.

Per their statement, OWLDAO tries as much as possible to work only with known community teams and communities with its token and a robust ecosystem to avoid working with rug pulls. To this end, OWLDAO revealed that LuncWin had falsely claimed to be a key member of TerraCVita with close ties to influential community members like Vegas and LUNC DAO.

However, per the chat receipts shared, LuncWin failed to prove this as he could not get an endorsement from these community members. Furthermore, he raised red flags by hinting at issuing a new token and NFTs, all while asserting that he spoke for the Terra Classic community. 

Notably, OWLDAO later discovered that LuncWin had been promoting a demo of the OWLDAO casino as his project to key community members to get their support to pass the review process. They confirmed this after finally establishing contact with Rexzy.

“I have certainly not stolen LUNCWINS idea for this casino,” Rexzy asserted in a Discord chat in response to the allegations. “It was simply not there idea to steal, and they never had a relationship with OWLDAO. However, the indepth truth is that LUNCWIN simply could not pass the requirements of the master casino provider who is OWLDAO.”

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Both TerraCasino.Money and  LuncWin continue to dispute this but have failed to provide evidence to support their claims.

LUNC DAO had also confirmed that they have no relationship with LuncWin despite its claims otherwise in communication with OWLDAO.

In addition, contrary to claims from TerraCasino.Money,  OWLDAO reveals that it is licensed in Curacao.

Classy Sues For Unity 

In light of recent happenings, Classy, community influencer, and network validator, has urged the Terra Classic community to work together again as it once did, united by a common goal.

“Can we put aside our differences & work as we did before?” Classy urged in a tweet today. “What we’ve done is incredible thus far. Let’s keep it alive.”

The Casino Will Burn LUNC 

Terracasino.io, despite the controversy surrounding it, is set to launch before December 1, per the medium blog post.

In addition, it promises to burn 0.2% of its betting volume. 

As reported by The Crypto Basic, Rexzy had asserted that the casino could burn 26 billion Terra Luna Classic (LUNC) in 6 months.

“Not All Coins Can Become Shiba Inu” – Gokhshtein

Albert Brown
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“Not All Coins Can Become Shiba Inu” – Gokhshtein

 

David Gokhshtein recently noted that not all upcoming assets could become Shiba Inu in growth.


Former US Congressional candidate and advocate for Shiba Inu, David Gokhshtein, recently mentioned that not every upcoming asset can be like SHIB in terms of exponential growth. Gokhshtein made these remarks while speaking on the investment failures he has encountered in his attempt to find another asset that would bring as many returns as SHIB.

“Not everyone is going to become SHIB. I attempted to find the next one and landed in a pile of sh.t. Not chase another one. Landed in another pile of sh.t,” Gokhshtein remarked in a tweet  Sunday, as he addressed his 707K+ followers on Shiba Inu’s progress so far.

 

David’s recent comments followed a reiteration of the meme coin’s exponential upsurge following its launch. It would have made anyone who invested as much as half a thousand dollars a millionaire in a few days.

“If you would have put in 500 into SHIB when it first came out — you would have been sitting on millions,” Gokhshtein said in a previous tweet. He noted that picking the right investment boils down to doing proper research and finding the “pulse” of the community, as he has incurred losses attempting to find the same opportunity in other upcoming assets.

Despite elongated underperformance triggered by the prevalent bear market, SHIB is currently 5,997,141% above its price at launch in August 2020. The asset reached an ATH of $0.000079 a year following its launch – in October of 2021 – before sinking to its current value. Notwithstanding, early investors are still in massive profit.

Shiba Inu has benefited from an active development team and a robust and spirited community. The asset saw a surge shortly after its launch, bringing millions to anyone who had invested as little as $100.

Undoubtedly, SHIB’s massive growth has prompted investors such as Gokhshtein to seek out the next big thing. Gokhshtein’s comments come from a disappointing heart in this quest. He once openly requested recommendations on a meme token with tokenomics as attractive as SHIB’s, asking his followers to give him “the next SHIB.”

Amid a series of recommendations, the recently-launched meme coin The Protocol (THE) stood out. However, The Crypto Basic previously reported the media personality’s reluctance to invest in THE, as he revealed that he plans to stick with SHIB.

The 40-year-old founder of Gokhshtein Media remains one of the most active SHIB advocates within the crypto community. In October, Gokhshtein expressed his regret for not investing all his meme coin-focused funds in SHIB as he sought to remind the community of the asset’s incredible growth.

Over the past months, Gokhshtein has remained vocal in his SHIB advocacy as he sets himself on a path to promote the asset alongside Dogecoin (DOGE). Early this month, Gokhshtein declared himself a SHIB and DOGE maximalist. Subsequently, as reported last Friday, he further reiterated his claim of being the self-appointed unofficial leader of Shiba Inu.

Meanwhile, SHIB has been burnt by the recently-introduced heat and the rest of the market. The asset has seen a decline of 5.37% in the past 24 hours, but its abysmal situation is not unique, as both BTC and ETH have plummeted by 3.14% and 7.21% within the same timeframe. SHIB currently trades at $0.0000086 as of press time.

Massive Exposure As Shiba Inu Going To Immerse Global Summit

Zabi
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Massive Exposure As Shiba Inu Going To Immerse Global Summit

Marcie Jastrow To Represent Shiba Inu At Immerse Global Summit.


Lead Shiba Inu Metaverse advisor Marcie Jastrow to represent Shiba Inu (SHIB) at Immerse Global Summit 2022.

The official Twitter handle of Immerse Global Summit confirms that the lead SHIB Metaverse advisor, Marcie Jastrow, will speak at the upcoming Immerse Global Summit scheduled to begin on December 5th and end on December 7th, 2022, at Fontainebleau Hotel Miami, Florida.

As per reports, Marcie Jastrow will shed light on the development of SHIB: The Metaverse and the whole Shiba Inu Ecosystem at the summit alongside major industry players, including Meta Platforms, Inc. (Meta), Microsoft (MSFT), web3equity, and TerraZero.

As per the official website of Immerse Global Summit, over 1000 attendees, including 300+ company representatives, 200+ speakers, and 20+ industry verticals, are coming to the technology and business growth conference.

Apart from this, Immerse Global Summit has also partnered with major media outlets to get huge media coverage all across the globe, including Fortune, Miami Herald, Cointelegraph, and many more.

Shiba Inu’s representation at IGS Miami is supposed to be a major milestone as it will expose Shiba Inu and its Metaverse to many investors and enthusiasts across the globe.

Integrating Blockchain Technology into the Retail Industry

Andrew MacGill
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Integrating Blockchain Technology into the Retail Industry

Like it or not, the world is changing at the speed of light. Technology has evolved in such a way that there is no industry where you would not find some of its features. And among all the updates coming each day, crypto and blockchain may be the two topics bringing the most considerable amount of news to the table. 

Since 2009, when the first cryptocurrency was launched, developers have been working on finding new ways of introducing crypto and blockchain in other industries, too. And it may be fair to say that they did it successfully in many situations. 

Remember when Laszlo Hanyecz ordered two large pizzas and paid 10,000 BTC? This was the first crypto payment completed ever. And it may be one of the first situations when crypto made its way into the retail industry. 

Thus, are there other ways to integrate crypto, especially blockchain technology, into the retail industry? And what are the advantages and downsides of doing that? Stick with us to find out. 

Understanding Blockchain Technology

Blockchain technology is an advanced mechanism allowing information sharing transparently and securely. The information is stored in blocks that are linked together, thus forming a blockchain.

One of the most exciting and valuable facts about blockchain is that the stored data cannot be deleted or modified after being verified and added to a block. 

Therefore, blockchain technology provides a high level of security. Furthermore, blockchains protect users’ privacy, too. Basically, although the transactions can be seen by everyone looking the blockchain up, it’s very difficult to find out who the parties involved in the transaction are and why they did that transaction.

Thanks to its features, blockchain technology has also started to make its way into the retail industry. In fact, a Deloitte study tells us that nearly 75% of retailers plan to accept cryptocurrency payments in the next 2 years.

Because it can be used to develop an unalterable or immutable ledger, retailers can use it to track payments, orders, and deliveries, as well as the origins of the products, if their company does not manufacture them. And even though 50% of retailers plan to use a third party in order to exchange crypto for fiat, this still does mean that consumers will be able to pay with crypto for retail products and services from sub-sectors such as cosmetics, transportation, food, and beverage, or electronics.

This way, blockchain technology is a remarkably better option for retail companies, helping them improve their processes and increasing productivity and efficiency.  

Using Blockchain Technology in the Retail Industry – Main Benefits and Downsides

It is not news that blockchain technology is revolutionizing more and more industries worldwide. And when it comes to the retail industry, there are many benefits to using blockchain technology.

One of the most important features retailers include in their businesses may be crypto payments. Thanks to the primary benefits blockchain technology bring, retail companies can use it to increase the effectiveness of their transactions. 

For instance, many companies opt to use blockchain technology to receive crypto payments from their customers. This process does not necessarily require using any third party, making it faster and more cost-effective. However, companies can choose to exchange the crypto they receive for fiat through third parties, making it even easier to accept crypto payments, as they will not be affected by the crypto market’s high volatility. 

However, this practice has a downside, and it makes companies think twice before introducing blockchain technology in their payment strategy. 

Crypto gas fees have always been a deal breaker for some businesses, and it is no wonder why. The fees can change based on some factors (e.g., supply and demand), and even if sometimes they may not affect the retailers that much, they can fluctuate suddenly.

And since blockchain technology is improving continuously, there is a question that many users may have: is there any possibility of reducing or removing the gas fees associated with crypto transactions in the retail industry? 

Well, the answer may surprise and gladden those aiming to work with crypto transactions.

How to Solve the Gas Issue? 

Some blockchains require gas fees. However, others work based on gasless technologies.

The project leading the way in this field is Redlight Finance. They aim to solve the Blockchain Trilema (Scalability, Decentralization, and Security) through an utterly gas-free solution by employing a layer 1 EVM (Ethereum Virtual Machine) compatible blockchain. Furthermore, another goal is to help other industries embrace blockchain technology and use it to develop more effective processes within their activities.

This way, the retail market will also get better access to the blockchain game. And this comes with benefits for both the retail and crypto industries. Once retail companies decide to use blockchain technology, the crypto industry will also grow.

Final Thoughts

With the blockchain industry constantly evolving, many other industries are considering introducing blockchain technologies in their activity, one of which is the retail industry.

Retailers seem to have learned some of the benefits of blockchain technology, and while 75% of retailers plan to start accepting crypto payments in the next 2 years, others are going even further with their strategies and trying to follow deliveries through blockchain features. 

Because many crypto transactions require gas fees, which can be a major downside for both customers and retail companies, some crypto projects aim to reduce or remove gas fees to make other industries embrace blockchain technology faster.

FOX Business Journalist Calls Out Kraken’s Mislabeling Of XRP As Ripple

Mark Brennan
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0
FOX Business Journalist Calls Out Kraken’s Mislabeling Of XRP As Ripple

Terrett believes exchanges are responsible for some confusion surrounding Ripple and XRP.

In a tweet yesterday, FOX Business Journalist Eleanor Terret called out Kraken for mislabeling the XRP Ledger as the “Ripple Network” and XRP as Ripple.

According to the journalist, other exchanges like Binance also use the notations interchangeably. 

“It’s formatting like this that I think causes some of the confusion surrounding Ripple and XRP,” Terrett asserted.

Terrett claimed that it gave uninformed users the impression that they were buying into Ripple instead of the XRP token. According to Terrett, the Securities and Exchange Commission could easily point out things like this to its advantage in its case against Ripple.

It is the second time in recent weeks that members of the XRP community have had to point out the problem with using Ripple and XRP interchangeably. Notably, Ripple is the company that created the XRP Ledger, which has XRP as its native token, in the same way, for example, that Input Output Global created the Cardano network. Consequently, they are not the same thing.

However, as pointed out by Terrett, many people have gotten into the habit of using them interchangeably. 

Last Wednesday, Attorney John E. Deaton slammed Andressen Horowitz (a16z) General Counsel Miles Jennings for wrongfully asserting that Ripple ought to be decentralized, as reported by The Crypto Basic. Deaton pointed out that Ripple, not to be confused with the XRP Ledger, is a company with a board of directors centralized by design.

In response to Terrett’s concerns today, a user asserted that it was “disingenuous” of exchanges to pretend that they do not know the difference in 2022. Another user wondered who would be held liable should the SEC try to raise cases like this in the lawsuit.

It bears mentioning that Ripple remains locked in a legal battle with the SEC that has adversely affected XRP holders for nearly two years. The SEC accused Ripple in December 2020 of selling an unregistered security XRP to raise $1.3 billion. As the legal battle draws to a close, pro-Ripple lawyer James K. Filan has predicted that the Judge will give her ruling on or before the end of March 2023.

Ethereum Founder Asks Followers to Stop Begging For Money

Lele Jima
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Ethereum Founder Asks Followers to Stop Begging For Money

Vitalik Buterin recently asked his followers to stop requesting money from him.



In a recent tweet, Buterin said: “Ok guys, please don’t beg for money in social or chat messages.”

The Ethereum co-founder said he usually feels bad whenever he cannot meet people’s financial needs. He noted that while genuine reasons might back most financial requests, it is difficult for him to verify each of these claims, adding:  

“[…] Having a pattern of responding to such requests would lead to my inbox breaking completely.” 

Buterin’s Charitable Deeds

Aside from being a major crypto developer, Buterin is known for his philanthropic gesture towards humanity. Last year, Buterin broke the internet after he donated over $1.2 billion in crypto to India’s COVID-19 Fund and other charities. 

Buterin’s donations to these organizations were mainly in dog-themed cryptocurrencies, including Shiba Inu (SHIB), Dogelon (ELON), and Akita Inu (AKITA).

Notably, the creators of these tokens gifted Buterin the tokens to leverage his name for promotion. Interestingly, Buterin forwarded the tokens to charities instead of keeping them to himself. Earlier this month, Buterin urged canine-themed crypto creators to donate directly to charities instead of sending the tokens to his wallet’s address. 

“I recommend all the dog coin/word coin people to not issue tokens to me,” Buterin wrote. “If you *must* abuse my name, give the supply directly to those orgs and market it as ‘X% of supply donated to Vitalik-endorsed charities. But better just talk about the causes directly.”

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