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Ripple CEO, Excited About the Company’s Progress in SEC’s Lawsuit, Says ‘But Wheels of Justice Move Slowly’

Mark Brennan
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Ripple CEO, Excited About the Company’s Progress in SEC’s Lawsuit, Says ‘But Wheels of Justice Move Slowly’

 

Ripple CEO, Brad Garlinghouse says Ripple is doing extremely well in Ripple Vs SEC Lawsuit.



Brad Garlinghouse, Ripple’s CEO and founder, noted in a CNBC recent interview that he is happy with the developments in the lawsuit slammed by the Securities and Exchange Commission (SEC). 

The Ripple CEO made the disclosure at a CNBC-hosted fireside chat at the Paris Blockchain Week summit. 

According to Garlinghouse, who was also charged for the role he played in the sale of XRP in the United States, the lawsuit has gone much better than he expected 15 months ago when the blockchain company was sued. 

“The lawsuit has gone exceedingly well, and much better than I could have hoped for when it began about 15 months ago,” Garlinghouse said. 

However, he did not seem happy with the consistent delays that have been recorded throughout the lawsuit. “But the wheels of justice move slowly,” he said. 

Ripple’s Lawsuit

Recall that Ripple was slammed with a lawsuit in December 2020, for conducting an unregistered securities offering that saw the company raise $1.3 billion. 

The lawsuit, which has lasted for more than a year, has mostly gone in favor of Ripple. The court has approved two major motions filed by the blockchain company, including the Fair Notice Defense and a request to have the SEC surrender emails of its staff and former Director William Hinman. 

The decision, which was made earlier this week, is believed to hold answers to whether there were conflicts of interest in Hinman’s 2018 declaration that Ethereum was not a security. 

While Ripple had argued that the XRP coin is a currency, the SEC thinks otherwise and has engaged the firm in a lengthy lawsuit. 

Implications of the Lawsuit’s Outcome on Other Cryptos in the U.S.

The lawsuit has affected the company in various aspects, as Garlinghouse noted that Ripple is already operating in a “worse case scenario,” adding: 

“This case is important, not just for Ripple; it’s important for the entire crypto industry in the United States. It would really be negative for crypto in the United States.” 

A win for Ripple would force the U.S. SEC to establish rules to determine which cryptocurrency should be deemed a security. However, if the company loses the lawsuit, nearly all the cryptocurrencies trading in the United States could be classed as securities. 

Meanwhile, the lawsuit is expected to end in a settlement in favor of Ripple given the number of developments that have gone against the SEC lately. 

Robinhood CEO Gives Tips To Help Dogecoin Become Currency of Internet, Elon Musk And Doge Founder Agrees

Albert Brown
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Robinhood CEO Gives Tips To Help Dogecoin Become Currency of Internet, Elon Musk And Doge Founder Agrees

 

Can Dogecoin become the future currency of the internet? Robinhood’s CEO gives insight.


 

As Dogecoin enthusiasts continue to describe the meme coin as the currency of the internet, Vladimir Tenev, CEO and co-founder of Robinhood markets, disclosed recently that he is wondering what it would take for DOGE to achieve that goal. 

According to Tenev’s analysis, Dogecoin is far from achieving the goal of becoming the internet currency due to some technical issues currently facing the 12th-largest cryptocurrency. 

 

Transaction Fees Reduction

Tenev noted that making Dogecoin transactions cheap and fast is a significant step to taking the cryptocurrency closer to becoming the currency of the internet and the people. 

While he acknowledged that the recent upgrade, introduced in November 2021 by DOGE developers, had contributed significantly to reducing the network’s transaction fees, he still thinks more efforts need to be made in that regard to make fees to be “vanishingly small ultimately.” 

Fast Transactions

Tenev said DOGE’s block time should be faster in order to see the cryptocurrency rival top payment networks like Visa. 

However, it should not be faster to the point that it causes a problem of energy wastage. 

Comparing DOGE transaction times with Visa, Tenev said while the former’s current block time enables it to perform 40 transactions per second (TPS), the latter can theoretically handle 65,000 TPS. 

He thinks the issue could be easily resolved if the Dogecoin developers increase the network’s block size to at least 1GB and 10 GB in the near future. 

Furthermore, Tenev suggested that Dogecoin needs to have a fixed total supply, to become the future currency. 

“Another criticism of Doge is that it’s inflationary and the supply is infinite, unlike Bitcoin’s finite supply of 21M coins. ~5B new DOGE are created every year, and the current supply is about 132B. This results in a current inflation rate of <5% – less than USD!” Tenev adds. 

 

He concluded by urging Dogecoin developers to come up with a perfect solution to increase the network’s block size limit over time. 

Reactions to Tenev’s Opinion 

The development has sparked mixed reactions among Dogecoin enthusiasts, who took the time to comment on the lengthy thread.  

Dogecoin pseudonymous founder Shibetoshi Nakamoto, in his response to the post, said Tenev’s thread is a good read. 

 

Elon Musk responded to Shibetoshi Nakamoto’s comment, the CEO and founder of Tesla, who noted that: “As I was saying.” 

 

Shiba Inu Developers Embedded New Features To The Shib Metaverse Land Sale

Zabi
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Shiba Inu Developers Embedded New Features To The Shib Metaverse Land Sale

 

As the “Early Access Land Bid Event” progresses, excitement gains momentum and so do developers get involved to fulfil community requested features.


 

Shiba Inu Developers Embedded New Features “MULTIBID” To the Bid Stage of SHIB: The Metaverse LAND SALE Event Allowing Participants to Bid on Multiple Selection with a Single Transaction.

On one side, the SHIB Community is taking part in the event with full enthusiasm and is consistently sending feedback to the SHIB team and looking for some upgrades in the system. While on the other side, the SHIB development team is actively working on the input and seems to continuously introduce improvements in the “Bid Stage of SHIB: The Metaverse LAND SALE” to make things easier.

The team recently has introduced two quality of life improvements per one of the Official Shib team members, “SHIB INFORMER,” i.e., Timer and Multiple bids with a single transaction.

These two major upgrades mean a lot to the contestants taking part in the Bid Stage of SHIB: The Metaverse LAND SALE Event.

The Timer is reported to help the contestant know how much time is left until the next stage, through which they’ll be able to plan their bids accordingly.

Whereas SHIB: The Metaverse recently declared an addition of a new feature named “MULTIBID” to the system. This feature will help the contestants place bids on multiple selections with only a single transaction, which would be proved cost-effective.

Bid Stage of SHIB: The Metaverse LAND SALE Event goes live at shib.io on April 13, 2022. This is reportedly the first stage of the event, and in this stage, only LEASH holders have been given early access to the map/lands. The bidding event is scheduled to last for 3 days.

As per the recent official reports, the event has surpassed over 4500+ transactions.

Readers should note that only those can participate in this event that locked their LEASH or their Shiboshis NFTs utilizing the locking system introduced on April 2, 2022. The cryptocurrency being used for bidding purposes is Ethereum (ETH).

Following this event, as per the official SHIB blog post, the second event is named “Holder Event,” and this stage will also exclusively allow LEASH and Shiboshi NFT holders to enter yet another opportunity- especially those who did not get to participate or were not able to bid for lands during the initial stage. The second stage will be for seven days. The participants would need to lock their LEASH or their Shiboshis NFTs before getting early access.

After Stage 1 and Stage 2 end, the open-public sale is planned to begin.

“At this final stage, everyone will be able to purchase the remaining available lands on the map, at the fixed price, and without needing to lock any of their ecosystem assets.”

Cardano Founder, Charles Hoskinson Invites Elon Musk to Develop a Decentralized Social Media Platform Together

Lele Jima
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Cardano Founder, Charles Hoskinson Invites Elon Musk to Develop a Decentralized Social Media Platform Together

 

Cardano Founder Charles Hoskinson Wants to Partner with Elon Musk to Develop a Decentralized Social Media Platform.



Charles Hoskinson, the CEO, and co-founder of Input-Output Global, the firm responsible for conducting research for Cardano, has commented on Elon Musk’s offer to buy microblogging platform Twitter. 

In a Twitter post made today, Hoskinson disclosed that should the popular microblogging platform turn down Tesla’s boss’ offer to purchase Twitter fully, he would be willing to build a decentralized social media platform with him. 

“ Elon, if Twitter rejects your offer, then hit me up. Happy to build a decentralized one,” Hoskinson said. 

 

A few weeks back, Musk had sought the opinion of his nearly 100 million followers to find out whether to develop a decentralized social media platform that adheres to free speech. 

In a poll created on Twitter, the vast majority of Musk’s supporters favored his move to launch a decentralized platform, with some users requesting that he adds cryptocurrency like Dogecoin (DOGE) to the platform’s tipping jar. 

Based on this, it is not surprising to see the Cardano boss want to collaborate with Musk to develop a decentralized social media platform. He would wish the ADA coin also to be added to the platform’s tipping service. 

Musk Wants to Buy Twitter

Recall that yesterday, Musk disclosed that he had made an offer to purchase Twitter for $41.39 billion in a bid to enable the company to achieve its societal goals. Musk said he is willing to pay $54.20 per Twitter share to allow him to purchase the microblogging platform fully. 

According to the founder of the American electric car company, it will be difficult for Twitter to achieve its set goals under current circumstances; as such, he is willing to buy the platform and take it private. 

His proposal came in less than a week after his over 9% stake in Twitter was disclosed. With Musk confident that Twitter may not reach its set goals under current circumstances, he said he might have to reconsider his investment in the company if his offer is rejected. 

Experts Commenting on Musk’s Offer

Since he made the offer, many experts from different industries have weighed in on the issue, especially Twitter, where Musk disclosed the move. 

One of the people who commented on the matter was Michael Saylor, the leading business intelligence company MicroStrategy CEO. 

Saylor, in a tweet, urged Musk to buy fractions of Bitcoin if his offer is turned down by the Twitter board. He has always believed that the value of Bitcoin will soar in the future as more people adopt the nascent asset class. 

 

Ranked 5th, The Top Whale Buys 169B Shiba Inu, In Total The Whale Accumulated 945B Shib After Robinhood Listing

Zabi
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Ranked 5th, The Top Whale Buys 169B Shiba Inu, In Total The Whale Accumulated 945B Shib After Robinhood Listing

Top Ethereum Whale “BlueWhale0073” Added 169.97 Billion Shiba Inu (SHIB), Worth $4.31 Million, to Her Portfolio.



5th biggest whale of Ethereum (ETH) continued to increase their Shiba Inu holdings. Ethereum Whale, named “BlueWhale0073,” has just made her second-biggest transaction within 48 hours. Through this transaction, she has accumulated 169,975,386,848 (169.97B) more SHIB for the exchange of $4,361,568 ($4.31M).

The whale first became active on April 12, 2022, following the Shib listing announcement from Robinhood. That day, she  purchased a whopping 775,473,150,952 (775.47B) SHIB for $20,697,378 ($20.69M) through one large transaction.

As per data, the 5th biggest whale has accumulated a total of 945,448,537,800 (945.44B) SHIB, worth $25,058,946 ($25.05M) after Shib listing on Robinhood.

Looking deep into the whale’s wallet, we found that she is also holding:

  • 782,200 of Polygon (MATIC), worth $1,069,003 ($1.06M),
  • 23,777 of Chainlink (LINK), worth $324,251,
  • 14,569 of Uniswap (UNI), worth $137,834,
  • 1,373,526 (1.37M) of USD Coin (USDC), worth $1,372,666 ($1.37M), and
  • 1,131,574 (1.13M) of Tether (USDT), worth $1,132,219 ($1.13M).

Impact on SHIB Price:

At the time of writing, Shiba Inu (SHIB) is seen on the back foot and losing almost 3% of value over the last day. The current price per SHIB stands at $0.00002576. Compared to the previous day, the popular dog-themed cryptocurrency is also seeing a sharp decrease of 42.55% in 24-hour trading volume, whereas the current 24-hour trading volume appears to be $1,102,628,867.97 ($1.10B).

Cardano’s TVL Rose from $0 to Over $220M in 2022 But Crypto Lark CEO Says ADA Is Undervalued Big Time

Albert Brown
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Cardano’s TVL Rose from $0 to Over $220M in 2022 But Crypto Lark CEO Says ADA Is Undervalued Big Time

Cardano’s Total Value Locked Surges from $0 to Over $220 Million in 4 Months.



While many investors are more concerned about the price of ADA, the native cryptocurrency of Cardano, the total value locked (TVL) on the network has recorded tremendous growth since the beginning of the year. 

Cardano’s TVL had recorded a slow start this year, starting around zero in the first two days of 2022. Interestingly, on the third day, the total value locked began to increase slowly before finally picking up steam on January 20, 2022. 

Cardano’s TVL

Since then, Cardano’s TVL has not slowed down, surpassing a quarter of a billion on several occasions. At the time of writing, Cardano’s TVL is worth $228.55 million, according to data on DeFiLlama, with several enthusiasts anticipating that the volume will surge when more decentralized exchanges make their debut on the blockchain. 

It is worth noting that Cardano’s TVL had surged as high as $326 million on March 24, 2022, but as the eighth-largest cryptocurrency by market capitalization suffered a massive dip in price, the network’s total value locked was also affected, thus bringing it down to $228.55 million. 

Lark Davis, CEO, and owner of The Crypto Lark with 950K followers said: 

“cardano total value locked has gone from basically zero at the start of the year to a quarter billion. Still far behind other chains, but nevertheless impressive growth for 4 months!” 

He further said that even though ADA has a $255M locked in defi and a $30B market cap but still Cardano is highly undervalued.

 

Cardano’s TVL Will Soar When More DEXes Launch 

Recall that since Cardano enabled smart contract functionality, only ten decentralized exchanges have been successfully launched on the network’s mainnet. 

The $228 million TVL on Cardano is contributed mainly by three DEXes namely Minswap, Sundaeswap, and WingRiders. 

Charles Hoskinson, the CEO of Input Output Global (IOG), the firm responsible for Cardano research, is confident that more decentralized exchanges will be deployed on the network after the Vasil hardfork, an upgrade tipped to introduce significant features to the blockchain. 

With more DEXes expected to go live in June 2022 when the Vasil hard fork is deployed, Cardano’s TVL will definitely surge tremendously. 

SEC Receives Application For Digital Bitcoin ETF Built On Algorand

Albert Brown
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SEC Receives Application For Digital Bitcoin ETF Built On Algorand

The cryptocurrency space has been looking forward to approval for a Bitcoin ETF.

Experts believe that even one Bitcoin ETF approved by the SEC will go a long way in earning investors’ confidence and ensuring the overall growth of the crypto industry. The SEC has however been reluctant about approving any of the many applications filed before it for a Bitcoin ETF.

The latest of these filings is an application for a digital Bitcoin ETF built on Algorand. The application was filed by Digital Funds LLC, a company based in Florida. The application titled “The Digital Funds S&P 500® Bitcoin 75/25 Index ETF” was filed on 12 April 2022.

The ETF is proposing a 75% investment of its asset “in large U.S. companies that comprise the S&P 500 Index”. The remaining 25% is to be invested in Bitcoin futures contracts. 

It is worthy of note that the shares of this ETF are tokenized and recorded on the Algorand blockchain. According to the details of the application, the shares will be available to buy, sell or transfer on Algorand in a peer-to-peer manner like buying and selling cryptocurrencies. 

Higher chance of approval

The proposed digital Bitcoin ETF is a futures ETF, which does not fit the description of a traditional Bitcoin ETF. Futures ETFs deal with Bitcoin futures contracts, which are “cash-settled contracts traded on commodity exchanges registered with the Commodity Futures Trading Commission.”

On the plus side, the fact that this is a futures ETF gives it a much higher chance of getting approved despite the fact that it is the latest of all the applications. Indeed, a few other futures ETFs have been approved for Bitcoin in the past, the latest of which was the Teucrium Bitcoin ETF, making a total of four approved Bitcoin futures ETF.

Making ETFs easier to use

Apart from the fact that this is a digital ETF, it is also an EtF that is very unique as equity trading is not done peer-to-peer traditionally. Algorand’s instant finality feature however makes it possible by conferring the blockchain’s permission less liquidity on the tokenized shares in addition to eliminating middlemen, which in turn removes counterparty risks.

If approved, the ETF will use Algorand’s blockchain to ensure transparency and prevent fraud, which will help mainstream investors be more confident in using it. This however does not eliminate the need for a Bitcoin spot ETF which the industry will still pursue in spite of this innovative project.

Owner of Jack Dorsey First Tweet NFT Struggling to Sell One Year After Paying $2.9 Million For It

Lele Jima
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Owner of Jack Dorsey First Tweet NFT Struggling to Sell One Year After Paying $2.9 Million For It

A businessman who bought Jack Dorsey’s tweet as a non-fungible token for millions of dollars a year ago is still finding it difficult to sell the digital collectible on popular NFT marketplace OpenSea. 

Recall that in 2021, Sina Estavi, CEO of Oracle Bridge paid a whopping sum of $2.9 million for the NFT version of the first tweet made by Twitter CEO, Jack Dorsey. 

Estavi Moves to Sell the NFT

The tweet, which reads “Just setting up my twttr” was minted as an NFT and described as being valuable and of equal significance to the popular Mona Lisa art. 

One year after the groundbreaking purchase, Estavi disclosed his willingness to sell the tweet for $48 million or more, in a bid to donate 50% of the revenue raised to a U.S. poverty charity dubbed GiveDirectly. 

He proceeded to make the necessary sale settings on OpenSea last week, with hopes that interested buyers will pay $48 million or more for the non-fungible token version of Dorsey’s first tweet so that he can give out nearly $25 million to GiveDirectly. 

“I decided to sell this NFT (the World’s first-ever tweet) and donate 50% of the proceeds ($25 million or more) to the charity,” Estavi tweeted. 

 

Nobody Willing to Pay $10,000

While many would think the offer would receive lucrative bids from interested buyers, the highest bid as of today was $6,200, a fraction of the $2.9 million initially paid to acquire the tweet.  

The CEO tweeted again earlier today, saying: 

“Jack Dorsey’s First Tweet NFT. March 2021: Bought for $2.9 million. April 2022: Re-listed for Sale at $48 million. Today: Current Best Offer – $6,222.36.” 

Although Estavi claimed that he had received a bid of $10 million prior to now, he stated that he “may never sell the asset” if he does not get a better bid to enable him to donate substantial funds to the charity. 

He is confident that the value of the asset will skyrocket in the coming years as more people continue to learn about non-fungible tokens. 

“Now I say this NFT is the Mona Lisa of the digital world. There is only one of it and it will never be the same,” Estavi added. 

According to Estavi, the potential buyer of the NFT must be worthy of the asset like Elon Musk, the CEO of American electric car company Tesla. 

He also said that Elon might be interested in buying the NFT.

 

Online Merchants Can Accept Payments in Polygon-Based Cryptocurrencies Through PayBolt

Mark Brennan
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Online Merchants Can Accept Payments in Polygon-Based Cryptocurrencies Through PayBolt

 

PayBolt, a Web3 cryptocurrency payment gateway, has made its official debut on the Ethereum Layer-2 scaling solution Polygon. 



The move is part of efforts to enable online merchants to accept Polygon-based tokens such as $USDC, $USDT, $MATIC, and $QUICK, as payments for their merchandise. 

PayBolt is committed to making cryptocurrencies the favorite payment method for online commerce, Polygon noted in a blog and Twitter post today. 

 

In a bid to make this vision a reality, PayBolt has already developed a crypto-to-fiat payment system supporting 150 fiat currencies, and the company is also making significant moves to lure more online merchants into using the service. 

Reacting to the development, PayBolt took to Twitter to celebrate the groundbreaking launch, saying: 

“Thank you @0xPolygon. Let’s keep building for a better future. With PayBolt, we can.”

Polygon Features Imperative to PayBolt’s Goals

According to the cryptocurrency payment provider, its debut on the Polygon network will help it achieve its set goals faster than expected, as the popular Ethereum L2 scaling solution is endowed with mouthwatering features like performing transactions faster at a relatively lower cost. 

Using PayBolt’s cryptocurrency payment service comes with its benefits such as low transaction fees accompanied by a 0.5% Merchant Discount Rate (MDR), increased security, and near-instant settlement. 

PayBolt’s native cryptocurrency, $PAY fuels the payment ecosystem by rewarding the project’s cryptocurrency app users who use the initiative to purchase goods online. 

Growing Adoption of Polygon 

Polygon is gradually becoming the network of choice for different cryptocurrency-related projects, ranging from payment, and health, to non-fungible tokens (NFTs). 

Last month, Raiinmaker, a social media platform deployed on the Polygon network, launched a create-to-earn platform that will see its users be rewarded with non-fungible tokens for creating exciting content. 

Similarly, Polygon was also tapped by Zostel, an Indian-based hostel chain, to develop decentralized travel NFTs featuring exciting traits. 

The widespread adoption of Polygon has contributed to the growth of the network’s users, as the number of active addresses on the L2 blockchain surges.  

Shiba Inu Mentioned on Fox Turkey TV Network (Ekonomi-Arasi) as SHIB Goes Viral

Albert Brown
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Shiba Inu Mentioned on Fox Turkey TV Network (Ekonomi-Arasi) as SHIB Goes Viral

 

Shiba Inu is Mentioned on Fox Turkey as SHIB Goes Viral.


 

Shiba Inu has become a popular cryptocurrency in the last 48 hours, mainly on social media and crypto news websites. Shib fame has gone beyond what was thought initially as the meme token was mentioned on FOX Turkey, one of the leading free-to-air TV networks broadcasting in Turkey.

This is the second big news coming from Turkey, after the country’s Minister of Economy, Mustafa Elitaş discussed the coin with Shiba Inu Türkiye, a Shiba Inu supporter from Turkey. 

shib on turkey TV

Image Source: https://www.fox.com.tr/Ekonomi-Arasi/bolum/108 (Shiba Inu is discussed after 4:10 Seconds onwards)

Turks and crypto 

The relationship between Turkish citizens and cryptocurrencies is an old one, considering the fact that the Turkish Lira has been on a free fall for years. Many of them have decided to acquire Bitcoin as a hedge against the inflation that is eating up their currency. Since they have been buying Bitcoin, it may be easy for them to consider buying tokens such as Shiba Inu.

This is primarily because it is cheap and according to meme coin bull David Gokshtein, SHIB has the potential to go much higher from here because it serves as a gateway into crypto for new investors. The recent appearance of SHIB on TV in Turkey and the discussion held by the Minister of the economy both point to the fact that SHIB may be about to find a place among Turks.

Meanwhile, the token is already in the green as the crypto market has bounced back. The new widespread popularity of the token is likely to attract more buyers which could further push the price up. 

Shiba Inu achieved much

Shiba Inu is the second-largest meme token in the crypto market after Dogecoin. Recently, the team behind the token has been working to make it better and increase its value. Such efforts include the token burn to reduce circulating supply, the launch of an NFT collection, a Metaverse, and the recent listing on Robinhood.

These could be the factors that have led to the current popularity and if this continues, then the token may indeed reach the predicted $0.001 price level even if it doesn’t get to the $1 mark.

 

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