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Shiba Inu Metaverse On Fire, Unveils First Concept Art of A New Hub “ Tech Trench” 

Lele Jima
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Shiba Inu Metaverse On Fire, Unveils First Concept Art of A New Hub “ Tech Trench” 

Shiba Inu Metaverse Unveils the First Concept Art of A New Hub “ Tech Trench.” 


The team behind the development of Shiba Inu Metaverse has unveiled the project’s first concept art of a new digital location.

According to a blog post today, the team has shared the first concept art of the new hub, dubbed Tech Trench, to give users an idea of its role.

The blog post stated that the idea of the Tech Trench hub was to create an immersive environment in ancient times, which evolved into a hyper-technological space as community members acquire relevant knowledge and education.

“This hub allows for a deeper connection with the cultural reassurances and lessons learned from the innovative and daring journey SHIB as a project & community has endured,” the blog post read.

Concept of Tech Trench

Shiba Inu describes Tech Trench as a digital location where users can find community distribution of cultural learning experiences, majorly for people who shape the future of educational foundations and decentralized ecosystems. 

A black and white image was attached to the blog post showing the first concept of the SHIB Metaverse Tech Trench.

Inspiration Behind the Design of Tech Trench

Notably, the visual concept of the new hub’s design was inspired by different learning environments, such as three universities in the U.S., including Princeton University, Yale University, and Mori Hosseini Embry Riddle Aeronautical University.

SHIB Metaverse’s Tech Trench design inspiration also comes from Japan’s Otemon Gakuin University, Switzerland-based Rolex Learning Center, Nanyang Technological University in Singapore, and Mode Gakuen Cocoon Tower in Japan.

While making up the first art concept of Tech Trench, the developers also got their inspiration from different faunas such as owls, ravens, magpies, crows, etc. 

The development team has scheduled a Fireside chat for November 18, 2022, at 01:00 (UTC) to share more details about the newly unveiled SHIB Metaverse hub. The Fireside chat will take place on the official Shibtoken discord channel.

Efforts Towards the Success of SHIB: The Metaverse

It is noteworthy that the release of the first concept art of Tech Trench comes hours after the team shared the third concept for the Dunes hub. Shiba Inu and its partner, THE THIRD FLOOR, have been committed to the success of the SHIB-themed metaverse. The teams have made significant progress toward this goal, including onboarding top entertainment veterans like Marcie Jastrow to strengthen the team further. 

In addition, the metaverse team has also released the concept art of other important project hubs such as Canyon, WAGMI Temple, and Rocket Pond. 

Mysterious Wallet Burns 52M Shiba Inu

Zabi
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Mysterious Wallet Burns 52M Shiba Inu

Over 53.08 Million Shiba Inu (SHIB) has been sent to the “inferno” addresses in the past 24 hours, 51.74 Million in a single transaction.



Shibburn.com recently reported that Shiba Inu Community has cut circulating supply by another 53,087,618 (53.08M) canine-themed tokens through two separate transactions in the past 24 hours.

The mysterious wallet is recognized as the Top SHIB Burner of the Day as it permanently removed a staggering 51,743,223 (51.74M) SHIB from circulation in one significant transaction.

This significant burn from the unknown wallet caused the Shiba Inu Burn rate to soar by 105.82% over the past 24 hours.

Burn Rate Soars 152.80 Compared to the Past 24 Hours
Burn Rate Soars 152.80 Compared to the Past 24 Hours

EtherScan Data

As per Etherscan.io, the unknown wallet executed its first-ever SHIB Burn transaction on November 11th to incinerate 10,000,000 (10M) SHIB. On the same date, the wallet sent another 1,999,999 (1.99M) SHIB to the dead wallet in a separate transaction. And 10 hours ago, the wallet burnt 51,743,223 (51.74M) coins.

The unknown wallet destroyed 63,743,223 (63.74M) SHIB through 3 separate burn transactions within the past four days.

Unknown Wallet Burned 63.74 Million SHIB since November 11th
Unknown Wallet Burned 63.74 Million SHIB since November 11th

On the other hand, the largest Shiba Inu holders continue to splurge millions of dollars to fill up their SHIB bags. As reported earlier by TheCryptoBasic, the 7th biggest Shiba Inu Whale splurged a whopping $6.11 million to accumulate 655.75 Billion SHIB in three separate transactions.

Another Dormant Address Holding 200 Ethereum Now Alive After 7 Years

Mark Brennan
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Another Dormant Address Holding 200 Ethereum Now Alive After 7 Years

A dormant pre-mined address containing over 200 Ethereum (ETH) coins has been activated after seven years.


Another ancient Ethereum address that dates back to 2015 has been activated.

According to cryptocurrency whale tracking service Whale Alert, the previously inactive address holding 200 ETH has been revived after over seven years.

“A dormant pre-mine address containing 200 ETH (249,650 USD) has just been activated after 7.3 years!” shared Whale Alert via a tweet.

According to Whale Alert, the funds in the wallet were pre-mined before Ethereum was officially launched. The pre-mined ETH coins were created with essentially no value. It’s noteworthy that 200 ETH is currently valued at $249,650.

In response to the tweet, numerous speculations about the person who had the wallet started circulating. A few people comically indicated that this was a “baby whale,” while others said 200 Ether was a tiny number that wouldn’t impact the market.

However, it is not unusual for pre-mine Ethereum wallets to wake up after several years. As reported yesterday by The Crypto Basic, a dormant address containing 500 Ethereum was activated after seven years. William Sonuto, Chief Technology Officer of the Indonesian exchange Indodax, later said he was on the other side of the transaction.

 

At press time, the price of Ethereum is $1,258.31, a positive change of 0.23% over the past 24 hours, according to Coinmarketcap, with a market capitalization of $153,984,563,498. So far this year, Ethereum has experienced a drawdown of -65.62%.

Top Whale Adds 655 Billion Shiba Inu

Zabi
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0
Top Whale Adds 655 Billion Shiba Inu

Major Shiba Inu Whale scooped 655.75 Billion SHIB in the past 24 hours.


Etherscan.io data reports that the 7th biggest Shiba Inu Whale accumulated a gargantuan 655,759,416,271 (655.75B) SHIB, worth $6,111,677 ($6.11M) through three separate transactions in the past 24 hours.

Top Shiba Inu Whale Accumulated 6.11 Million worth of SHIB in the Past 24 Hours
Top Shiba Inu Whale Accumulated 6.11 Million worth of SHIB in the Past 24 Hours

As per the report, the deep-pocketed Shiba Inu investor executed the first transaction about 7 hours ago to add a staggering 653,203,184,591 (653.20B) SHIB worth $6,087,853 ($6.08M).

Following the significant accumulation, the Whale made two small transactions and accumulated another 2,556,231,680 (2.55B) SHIB, worth $23,824.

The 7th biggest Shiba Inu holder now holds a massive 17,590,325,389,123 (17.59T) SHIB, worth $164,469,542 ($164.46M) in her wallet.

Moreover, Shiba Inu still appears to be the top holding among the top 5000 ETH Whales. As per WhaleStats, the top 5000 Whales collectively hold $75,289,824 ($75.28M) worth of SHIB in their wallets.

At press time, Shiba Inu is trading at the price of $0.000009306, up 1.75% over the last day, with a 24-hour trading volume of $180,502,176 ($180.50M).

Dogecoin Community Raises $40K to Build Statue In Honour Of The Dog Behind DOGE Mascot Inspiration

Lele Jima
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0
Dogecoin Community Raises $40K to Build Statue In Honour Of The Dog Behind DOGE Mascot Inspiration

The DOGE community edges closer to creating a statue for the dog behind the inspiration of the Dogecoin mascot. 

According to a press release today, members of the Dogecoin community are participating in a month-long crowdfunding campaign to create a bronze statue for Kabosu, the Japanese dog behind the inspiration of the DOGE mascot. 

Details of the Crowdfunding Campaign

The move is an effort to celebrate the 17th birthday of Kabosu, which took place on November 2, 2022. Per the press release, the crowdfunding campaign was also flagged off on Kabosu’s birthday and will run until December 6, 2022. Notably, the target for the crowdfunding campaign is $42,069. 

The initiative is being spearheaded by the Dogecoin Foundation, Own The DOGE, and Atsuko Sato (Kabosu’s mother). It bears mentioning that, less than 72 hours after the campaign was flagged off, the Dogecoin community raised $32,000. 

However, following the collapse of the FTX exchange, which wreaked havoc on the entire crypto market, the valuation of DOGE and other tokens the community had crowdfunded for the project slumped tremendously. 

Despite the massive slump in the amount raised, which was caused by the FTX exchange collapse, members of the Dogecoin community are still committed to reaching the project’s target of $42,069. 

Once the target is met, the organizers of the project intend to continue crowdfunding to raise more funds that will aid the creation of a bigger statue for Kabosu. 

The statue will be placed in Sakura Furusato Square Japan, a picturesque park where Kabosu’s mother takes her for walks, the press release read. The location of the statue will be dubbed DOGE Mecca, a physical location where Dogecoin enthusiasts who hold Kabosu in high esteem can go, to pay tribute. In addition, plans are also being made to place a sister statue on the moon. 

Commenting on the development, Gary Lachance, a board member of the Dogecoin Foundation, said: 

”It’s quite a thrill to see this long-held dream of the Doge community finally being realized. Kabosu has inspired so much laughter and goodwill. It is a great honor to serve her and help to enshrine the legacy of the most beloved and impactful meme in all human history!” 

Call For Donations

Members of the Dogecoin community who are interested in donating to the project are urged to visit BronzeTheDoge.xyz to make their donations in DOGE, Ethereum (ETH), and other ERC-20 tokens. 

“For Kabosu’s 17th Birthday, we are crowdfunding AN EPIC BRONZE STATUE in a park in Kabosu’s hometown in Sakura, Japan. We are calling upon all Doge fans and communities to come together and make this a reality!” information on BronzeTheDoge.xyz read.  

At the time of writing, the Dogecoin community has raised $40,376 from a total of 245 donations. 

Deaton Says Coinbase And CNBC Promoted XRP More Than Ripple

Lele Jima
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0
Deaton Says Coinbase And CNBC Promoted XRP More Than Ripple

Ripple vs. SEC: Attorney Deaton Reveals Details of His Upcoming Amicus Curiae Brief.

Deaton says his brief will prove that Coinbase and CNBC promoted XRP adoption more than Ripple ever did.

Attorney John Deaton, Crypto Law founder, has revealed that he will officially file an amicus curiae brief today to support Ripple’s case against the SEC. The Crypto Law founder made this known in a recent tweet moments after Judge Analisa Torres approved his motion to file an amicus brief on behalf of XRP holders. 

With attorney Deaton’s brief scheduled to be filed later today, he shared some important details that the XRP community should expect in the upcoming amicus brief.  

“Tomorrow I file XRPHolders amicus brief with my declaration. I encourage you to review it, including the Exhibits. You will see how CNBC arguably encouraged people how to buy XRP more than @Ripple, or how @coinbase arguably promoted XRP more than Ripple,” attorney Deaton noted. 

Furthermore, the brief also highlights the SEC’s inability to prove that XRP holders are in a common enterprise with Ripple. 

Court Grants 11 Motions to File Amicus Briefs

Deaton’s comment comes hours after U.S. District Judge Torres approved 11 motions filed by non-parties to file amicus briefs in the Ripple vs. SEC lawsuit. Interestingly, attorney Deaton’s request to file an amicus brief on behalf of XRP holders is among the motions granted by the presiding Judge of the Ripple vs. SEC case. 

The entities whose motions were granted yesterday have until November 18 to officially file briefs. San Francisco-based exchange Coinbase has filed its amicus brief supporting Ripple’s fair notice defense. As reported by TheCryptoBasic, 16 entities requested to file amicus briefs in the Ripple lawsuit, and Judge Torres granted the motions. 

Of the 16 companies that indicated an interest in filing amicus briefs, 13 favor Ripple, including I-Remit, TapJets, Investor Choice Advocates Network (ICAN), SpendTheBits, Blockchain Association, Attorney John Deaton on behalf of XRP holders, Paradigm Operations, Coinbase, etc. 

Two entities, the New Sports Economy Institute (NSEI) and InvestReady, are backing the SEC with amicus briefs. However, one of the entities, the Chamber of Digital Commerce, has chosen to be neutral in the suit.

XRP Surge In Market and Social Activities

With Ripple having the most support from non-parties in its case against the SEC, XRP recorded a resounding increase in social and market activities.

According to leading cryptocurrency data provider LunarCrush, Ripple’s social mentions surged 151.3% today, while its social engagement increased 69.86%.

Crypto whales were also seen moving huge amounts of XRP earlier today. Over the past 24 hours, high net-worth cryptocurrency investors moved 259.4M XRP coins in six different transactions.

The large movements of XRP are believed to be linked with Judge Torres’ decision to grant 11 separate motions by non-parties to file amicus curiae briefs in the Ripple lawsuit.

It is noteworthy that XRP is currently the top-performing crypto asset in the top 20 rankings. Earlier today, the crypto asset surged 16% to change hands at around $0.3784. In the hours leading up to press time, XRP is trading at $0.3982, according to data on Coingecko.

PlayStation Looking To Integrate NFTs in Games

Albert Brown
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PlayStation Looking To Integrate NFTs in Games

PlayStation might be looking to integrate non-fungible tokens (NFTs) in their games, as indicated by a new patent from Sony.



Video gaming brand PlayStation might be looking to jump on the NFT train, as a recently-revealed patent from PlayStation’s parent company Sony Interactive Entertainment indicates the gaming giant’s intentions to integrate NFTs into its games.

The patent dubbed “Tracking Unique In-Game Digital Assets Using Tokens on a Distributed Ledger” was published last Thursday. Data from the patent application reveals that the application was made in May of last year with Sony Interactive Entertainment Inc. as the applicant. Additionally, inventors include Warren Bendetto, Mischa Stephens, and Foley Laiyemo.

Per information from the application, the innovative idea seeks to develop a system that can be utilized to track digital assets associated with video games. Notably, the digital assets would be in the form of NFTs, which could represent in-game objects or characters.

This recently-published patent further underscores PlayStation’s growing interest in NFTs. It follows the gaming brand’s intentions to introduce digital collectibles and NFTs in its loyalty program, PlayStation Stars, in September.

The patent suggests that Sony is seeking to incorporate digital asset functionalities in PlayStation games that could allow users to purchase, transfer and trade these assets; and use them in other games. The system would be established to track these assets.

The background of the patent application highlights the significance associated with the ownership of items related to certain celebrities and notable personalities by fans, pointing out objects and activities related to the late American baseball player Babe Ruth.

Furthermore, the patent mentions the growing trend of the usage of in-game characters and objects as digital assets by game players who could, along the line, develop a large following. Notwithstanding, it acknowledged that these digital assets are fungible.

“Aspects of the present technology include systems and methods for creating, modifying, tracking, authenticating, and/or transferring unique digital assets associated with a video game,” the patent notes. Once it materializes, users could witness the use of NFTs in PlayStation games.

Noticing the growing significance of cryptocurrencies, Web3, and the Metaverse, Sony has in the past made moves that indicated its interest in the industry. In May, Sony announced a partnership with Theta Labs that would see the firm launch NFTs used for its Sony Spatial Reality Display initiative.

Conversely, PlayStation’s rival Xbox appears more conservative regarding crypto and NFT adoption. Despite noting that the Metaverse and NFT are innovative concepts, Xbox Chief Phil Spencer, in August, revealed that he is cautious of the space due to concerning factors.

Notwithstanding, in March of last year, Microsoft – Xbox’s parent company – launched a poll that sought Xbox users’ opinions on the introduction of Bitcoin (BTC) as a payment option, as previously reported.

Vitalik Buterin Denies Selling 3,000 Ethereum

Albert Brown
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0
Vitalik Buterin Denies Selling 3,000 Ethereum

 

Vitalik Buterin has dispelled claims that he recently sold 3,000 Ethereum (ETH).


Evan Van Ness, a notable Ethereum community member, recently disclosed that Vitalik Buterin confirmed that the recent reports suggesting that he swapped 3,000 ETH tokens for USDC are false, claiming that the address in question does not belong to him.

“I asked Vitalik Buterin. He confirmed that this isn’t his address, so this is fake news,” Evan remarked, commenting on a report from blockchain surveillance platform Lookonchain which claim that the 3,000 ETH selloff was linked to an address that belongs to Buterin.

 

Recall that reports of a selloff involving 3,000 ETH riddled the crypto space on Monday, as previously reported by The Crypto Basic. The selloff was significant because it involved an address that the community believes belongs to Ethereum co-founder Vitalik Buterin.

As the reports emerged, speculations of the reason behind the trade abound, as the address concerned swapped 3,000 ETH to USDC on Uniswap V3 in three equal transactions, selling at $1,250.3 per ETH. Some proponents asserted that Buterin is looking to dump his ETH holdings, especially when the markets are still sore from the massacre received amid the FTX saga.

Community Refuse To Accept

Despite the recent claim from Evan, most individuals have refused to believe the address does not belong to Buterin, as it has historically been linked to him. A certain proponent highlighted that the address was funded from Vb2 – a wallet known to belong to Buterin – asserting that it could have been him.

Notably, Larry Cemark, VP of Research at The Block, pointed out that the wallet address involved appears to have interacted with Buterin’s doxxed wallet on multiple occasions, noting that it would be surprising if the wallet address in question did not belong to him.

“I would be very surprised if this is not him… The wallet received 12k ETH in 17 separate transactions from VB’s doxx’d address (0x1db) and also sent 600 ETH to the same addy in 6 tx’s. Then received another 600 ETH and sent 3.7k ETH to another VB’s address (0x0cfb),” Cemark said in response to Evan.

Notwithstanding these counter-claims, Evan maintains that the address does not belong to Buterin, as Buterin has denied owning it. He noted that Buterin could clear the air with a tweet. However, the Ethereum co-founder has not publicly commented on the situation.

CryptoCom CEO Says They’ve Never Used CRO the Way FTX Handled FTT

Albert Brown
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CryptoCom CEO Says They’ve Never Used CRO the Way FTX Handled FTT

CEO of Crypto.com claims the exchange does not handle CRO the way FTX utilized FTT to assuage investor concerns.



Kris Marszalek, CEO of Singapore-based exchange Crypto.com, claims that the exchange has never utilized its native currency, Cronos (CRO), the way FTX used FTX Coin (FTT), which includes making shady decisions such as using it as collateral. Kris’ remarks surface amidst growing concerns of insolvency surrounding Crypto.com.

FTX’s debacle was triggered by several trades and investment decisions that the entire cryptocurrency community has regarded as imprudent. One such decision is how the exchange used its native token, FTT, especially for trades and using it as collateral.

Amid the growing concerns about Crypto.com’s insolvency, several proponents believe the Singapore-based exchange is oddly similar to FTX and might be following in its footsteps. Kris seeks to dispel these claims as he sheds more insight on how the exchange treats CRO on Tuesday’s CNBC Squawk Box episode.

“We’ve never utilized it in the way that FTX did – we never used it as collateral for any loans or anything. We run a very simple business. We are a regulated business – we’ve got licenses in all major jurisdictions,” Kris commented.

 

He also maintained that despite being launched by Crypto.com, Cronos remains an open-source, decentralized project housing about 400 projects currently building on it. He likened Cronos to a miniature version of the much-versatile Ethereum, noting that they are only an “open-source contributor.”

Kris noted that their mode of operation is completely different from what was witnessed with FTX, highlighting their licenses of operations as opposed to FTX’s unlicensed derivatives exchange and hedge fund operation.

Throughout this year, Crypto.com has been on a license acquisition rampage which has been regarded as commendable by the broader crypto community. In August, the exchange received registration approval as a crypto asset business in the UK. It also received a new license in South Korea in the same month. Before then, in June, Crypto.com procured a provisional approval license in Dubai. Within the same month, it received an in-principle license from the Monetary Authority of Singapore. French authorities also granted the exchange regulatory approval in September.

Despite these promising developments, investors’ confidence has been tested amidst questionable transactions recently carried out by Crypto.com as the heat from the FTX saga forces centralized exchanges to reassure their customers of liquid reserves.

On Sunday, blockchain surveillance platform Lookonchain disclosed some information regarding Crypto.com’s reserves, raising a few questions. Per data from Lookonchain, the exchange’s wallets hold a cumulative balance of $2.68B. Out of this, $80M is in CRO, $857M in BTC and $531M is in SHIB. Additionally, 40% of its holdings are in low-liquidity assets like ELON.

Furthermore, Lookonchain revealed that Crypto.com withdrew about $210M in USDT from Binance and $50M from Circle just before the exchange announced its proof of reserves. This revelation has raised questions amongst investors. These and several other indicators have contributed to the FUD surrounding the exchange.

Amidst the panic, CRO has been underperforming along with the rest of the markets, as it dipped to shocking lows. Despite a slight gain in the past 24 hours, the asset has plummeted by 35% in the past week, making it one of the highest-losing assets in 7 days. CRO currently trades at $0.073 as of press time.

Elon Musk Says FTX CEO Did Not Come Under Scrutiny As He Was Major Democratic Donor

Mark Brennan
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0
Elon Musk Says FTX CEO Did Not Come Under Scrutiny As He Was Major Democratic Donor

Elon Musk believes that SBF’s political donations shielded him from regulatory scrutiny.


Twitter boss Elon Musk has said that Sam Bankman-Fried, the former CEO of bankrupt crypto exchange FTX, was not in regulatory crosshairs in the past because he donates to the Democratic Party.

“SBF was a major Dem donor, so no investigation,” the billionaire tweeted on Saturday.

The statement came in response to a tweet by the president of the non-profit conservative activist group Judicial Watch, Tom Fitton. Fitton asserted that while Musk has remained under continuous scrutiny by regulators under the Biden administration, SBF, the second-largest donor to the Democratic party and a regular guest of Congress, has carried out a despicable scam under their noses.

Notably, Musk followed up his statement with a picture giving a graphic representation of the alleged personal links SBF has to the chair of the Securities and Exchange Commission, Gary Gensler. The crypto community dug up these links as it struggled to come to terms with the deplorable business and finance practices of the crypto exchange run by SBF under the noses of regulators he routinely rubbed shoulders with.

In a separate tweet today, the billionaire expressed similar sentiments as he responded with a laughing emoji to coverage of the FTX collapse that has been described as an SBF “puff piece” by popular left-leaning media, The New York Times.

It is worth noting that earlier this year, the Twitter boss declined an offer from SBF to finance his Twitter purchase with $3 billion. In a recent response to leaked emails that show the communications that connected both parties, Musk reveals why.

“He set off my bs detector, which is why I did not think he had $3B,” Musk tweeted, highlighting parts of the text that show him questioning SBF’s liquidity.

It bears mentioning that last Thursday, the SEC announced it was launching an investigation against SBF in addition to FTX and FTX.US, per a Bloomberg report. In addition, the Department of Justice has also said it is looking into the matter.

Whether this will lead to criminal prosecutions, as many in the crypto community hope, is yet to be seen.

Notably, SBF is already facing criminal investigations in the Bahamas, where the former CEO headquartered the defunct crypto exchange.

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