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Nearly 259 Billion Shiba Inu Burnt, With Another 1 Billion Shib Burn Expected Next Week 

Mark Brennan
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Nearly 259 Billion Shiba Inu Burnt, With Another 1 Billion Shib Burn Expected Next Week 

Steven Cooper, the founder of Bigger Entertainment, has announced that since the Shiba Inu community started the initiative to reduce the cryptocurrency’s total supply, billions of SHIBs have been burnt so far.



Announcing the development today on popular microblogging platform Twitter, Cooper noted that the entire Shiba Inu community had burned a total of 259 billion SHIBs. 

“Almost 259 BILLION shib coins have been added to the dead wallet by the community as a whole,” Cooper tweeted in the early hours of today. 

Not relenting on the progress made so far, Cooper announced further plans to see the Shiba Inu community burn an additional one billion SHIBs by next week when another burn party will be held.

“Next week, we’ll turn over a BILLION more between all the burn initiatives going on,” Cooper added. 

 

Cooper’s SHIB Burn Party

Cooper’s vision is to get the price of SHIB to $0.01, and the way he plans on doing this is to get the Shiba Inu community to send several units of the token into an inferno wallet. 

Bigger Entertainment allows people to listen to playlists on its website and sell non-fungible tokens (NFTs), merchandise, and tickets to popular events. 

Members of the Shiba Inu community who want to participate in the burning exercise are urged to join a burn party by purchasing a burn ticket worth $5 

Cooper then uses part of the company’s revenue to buy SHIBs at intervals and send the purchased meme coin into a dead wallet streamed live on YouTube. 

Since the burning exercise was launched in late October, Cooper and the Shiba Inu community have burned millions of SHIBs.  

Last week, over 300 million SHIBs were burnt by the community to reduce the initial one quadrillion total supply. 

It is worth noting that Cooper is not the only Shiba Inu enthusiast committed to reducing the total supply of the dog-themed cryptocurrency. 

NOWPayments, a cryptocurrency payment gateway, also supports the burning program for SHIB tokens. The company, which enables businesses to accept SHIB as a payment method, noted that it would burn 3% of its profit earned from all Shiba Inu transactions.

Meanwhile, last year, the team behind the cryptocurrency gifted 50% of the token’s supply to Vitalik Buterin, Ethereum’s co-founder. 

Buterin, who noted that he does not want to be the locus of power, sent 41% of the gift to a dead wallet while donating 50 trillion units of the SHIB to an Indian COVID-19 relief fund.

European Central Bank (ECB) Intoducing Digital Euro Bill In Early 2023

Mark Brennan
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European Central Bank (ECB) Intoducing Digital Euro Bill In Early 2023

The European Commission plans to introduce a central bank digital currency bill early next year, with the digital euro not launching until 2025 at the earliest.



The European Central Bank (ECB) is currently experimenting with the digital euro internally and expects to start work on a prototype platform by the end of 2023. If regulators think rolling out a digital euro makes sense, it could be ready by 2025.

By 2023, the rules for using the central bank’s digital currency in Europe would have been worked out. Mairead McGuinness, Commissioner for Financial Affairs of the European Union, announced the agendas at a fintech conference organized by Afore Consulting.

“If we don’t satisfy this demand, then others will do it; as co-legislators, you will play a key role in any changes to the EU legislative framework that may be necessary to introduce a digital euro. Our goal is to table legislation in early 2023, A targeted legislative consultation in the coming weeks.”

ECB also wants to examine all precautions that must be taken to introduce the digital euro to prevent a destabilization of the European financial system.

The Governing Council will make the final decision on the launch of the digital euro of the ECB, but European politicians are calling for the process to be speeded up.

Earlier, Bank of France Governor François Villeroy de Galhau expressed interest in launching a digital euro as central banks worldwide explore the possibility of launching their digital currencies.

According to de Galo, the European Union should be more actively involved in this process of launching central bank digital currencies (CBDC) so that the ECB does not lag behind other central banks. ECB Executive Board member Fabio Panetta also said that with the transition to a digital euro, the ECB would be better able to protect user privacy than private companies.

Here’s How NOWPayments Supports Shiba Inu Burning Initiative And Helps Businesses To Burn Shib

Zabi
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Here’s How NOWPayments Supports Shiba Inu Burning Initiative And Helps Businesses To Burn Shib

Shiba Inu (SHIB) token started its journey as a meme coin, and later it evolved into one of the most promising crypto assets in the world. Even still, some people can’t believe that a token like SHIB is now the 14th biggest cryptocurrency globally in terms of market capitalization. But the FACT is FACT.



SHIB has gained massive popularity since the start of 2021. But the Shiba Inu token gained enormous attention after Vitalik Buterin burned 41% of its holdings, which was gifted to him by SHIB’s team.

When the token was first created in August 2020, its initial supply was set to 1 quadrillion tokens.

SHIB’s team then gifted 50% or half of its supply to Ethereum (ETH) co-founder Vitalik Buterin. Later, Vitalik Buterin sent 41% of the SHIB supply to a dead wallet and noted that: “He doesn’t want to be the locus of power.”

After a few days, Vitalik Buterin helped SHIB and made another news headline, i.e., he has donated 50 trillion SHIB tokens (worth around $1.2 billion at the time) to an Indian COVID-19 relief fund founded by Sandeep Nailwal, the cofounder of Polygon (MATIC).

This is where SHIB Burning Concept came to birth.

Later, the SHIB Community (The SHIB Army) surfaces and takes the SHIB burning responsibility on their shoulders. Since then, SHIB Community has come up with so many new business concepts/models/ideas dedicated to SHIB Burning.

Among leading companies, NOWPayments, a crypto payment gateway, is helping SHIB Community in this cause and strongly supports the Shibburning initiative. For this reason, NOWPayments is consistently educating and spreading awareness about SHIB Burn and its importance via its official Twitter handle.

The company also insists on other companies joining the SHIB Burn initiative and accepting shib as payment. So many times, Now payments said: “If any company is facing difficulty in accepting SHIB, then NOWPayments is always there to help them out.”

With this open invitation, most of the companies founded by ShibArmy activists joined the platform, and NOWPayments has helped them out.

The following is the list from NOWPayments partners who accept SHIB and dedicate a handsome amount of their profits to burn SHIB.

Shiba Swag:

Shiba Swag is an online store accepting SHIB via the NOWPayments platform. The online store offers fantastic products like community mugs, T-shirts, phone cases, hoodies, etc. The online store is reportedly burning 15% of its total profit earned from the sales.

ShibaInuCafe:

Shiba Inu Café is another initiative run by Shiba Inu Community members, located in Chiang Rai City, Thailand. The café offers fresh plant-based food to its customers and plans to open ShibaInuCafe in every capital city — the Shiba Hotel. They also accept SHIB as a payment method via NOWPayments.

Green Juice Systems

Green Juice Systems is a Swiss company that offers its customers the latest technology in new equipment and gadgets for solar energy. Their mission is to help make our planet cleaner for future generations by reducing carbon emissions and donating to climate protection projects.

Shib Army Movement

Shiba Army Movement is a project dedicated to the Shiba Army and helping those in need: seriously ill children and their families and veterans. This project is global and, as the website says, “transcends borders and languages.”

Expressiffy

Expressiffy is an online store that offers personalized and customized sequined shirts and beautiful pieces of own design. In addition to clothing, Expressiffy offers customized AirPod cases, phone holder rings, pillows, teddy bears, and other accessories.

Along with all this, NOWPayments is also burning 3% of its total profit earned from all SHIB transactions carried via crypto payment gateway once a month.

NASDAQ Listed ‘IZEA’ Adds Shiba Inu As Payment Method

Zabi
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NASDAQ Listed ‘IZEA’ Adds Shiba Inu As Payment Method

NASDAQ listed Influencer Marketing Company, IZEA Announces Support for Two Most Popular Meme Coins Shiba Inu (SHIB) and Dogecoin (DOGE) along with Bitcoin, Ethereum, Litecoin, and Crypto.com Coin.



The adoption of the two most popular and the biggest meme coins of the world, Dogecoin (DOGE) and Shiba Inu (SHIB), is now inevitable.

IZEA, a NASDAQ traded influencer marketing company, said that from now onwards, they will accept both the canine-themed meme coin as a form of payment for influencer marketing campaigns along with Litecoin (LTC), Crypto.com Coin (CRO), Bitcoin (BTC), and Ethereum (ETH).

The announcement comes after the company’s survey results illustrated that most of the influencers, i.e., about 64% of the influencers already own cryptocurrency, and 50% of influencers have expressed their desire to be paid in cryptocurrencies for their content creation.

“Influencers are early adopters of cryptocurrency and have expressed a desire to be paid in these currencies for their work in the space,” said Ted Murphy, Founder and CEO of IZEA.

The company listed only six cryptocurrencies, BTC, ETH, LTC, CRO, DOGE, and SHIB, as a payment method because the firm expects that most social media users and influencers who own crypto are just as likely to hold them instead of other ones.

“Although Bitcoin and Ethereum are the leaders in the crypto space by market cap, our research shows that they are not always the preferred cryptocurrencies of our customers and creators; accepting Dogecoin, and Shiba Inu is a direct response to the needs and interests of our creator community.”

At the time of writing, Shiba Inu (SHIB) is trading at $0.00003134, down 6% for the day, whereas, Dogecoin (DOGE) is trading at $0.1531 per coin, down -4.24% for the day.

XRP and ADA Market Cap Dominance Competition Becomes More Intense

Mark Brennan
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XRP and ADA Market Cap Dominance Competition Becomes More Intense

In recent times, Cardano (ADA) and Ripple (XRP) have been in a neck-to-neck battle in which cryptocurrency will rank ahead of the other.

 

XRP, which was trading behind ADA a few days ago, usurped the smart contract token to become the sixth-largest cryptocurrency by market capitalization following a positive ruling from Judge Analisa Torres. 

The positive ruling saw the price of XRP surge to $0.91 per unit, while its market cap has also soared tremendously. Similarly, ADA has also held its ground as a valuable cryptocurrency as its price grew slightly to $1.25 a few days ago. 

At press time, XRP enthusiasts are still enjoying the positive ruling made by Judge Torres as reflected in the coin’s market cap, which is currently valued at $40.84 billion, putting the digital currency rank as the sixth-largest cryptocurrency. 

On the other hand, ADA is ranked the seventh-largest cryptocurrency with a market capitalization of $38.2 billion. 

It is worth noting that while the value of XRP in the future will be heavily reliant on the outcome of the Securities and Exchange Commission’s lawsuit against the blockchain company, ADA’s value will be determined by the continuous transition of Cardano into the decentralized finance space. 

The Cardano team is working relentlessly to make the network the favorite choice for developers. 

Since Cardano enabled smart contract functionality last year, a number of feats have been achieved, including the rising interest in the number of decentralized exchanges (DEXs) that want to launch on the network. 

A handful of DEXs has so far gone live on Cardano, with SundaeSwap (SUNDAE) being the first decentralized exchange on the network. 

With the launch of various DEXs on Cardano, user activities have been on the increase on the popular smart contract network. 

According to data on Cardano Scan, the transaction volume on the network has exceeded 30 million and the total value locked (TVL) across various Cardano-based protocols has reached $99.3 million. 

User activity keeps increasing as Cardano Scan suggests that the number of active addresses on the network has surpassed 162,000. 

Interestingly, Cardano enthusiasts are accumulating the ADA coin as they anticipate an inevitable rally that is to come in the coming months. 

Terra (LUNA) Signs $40M Sponsorship Deal With American Professional Baseball Club Washington Nationals

Mark Brennan
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Terra (LUNA) Signs $40M Sponsorship Deal With American Professional Baseball Club Washington Nationals

The Decentralized Autonomous Organization (DAO), which manages the Terra ecosystem, has entered into a sponsorship agreement with the American professional baseball club Washington Nationals.


 

The Terra Community Trust (TCT) has entered a 5-year, $38.15M partnership with the Washington Nationals MLB franchise.

The Terra brand will also be displayed in prominent positions around the park, including a 20 foot by 7-foot sign in left-field, 580 feet of LED Fascia Ribbon signage, digital out-of-town scoreboard signage, digital out-of-home network boards, and a flexible in-park television network.

The recreation area for VIP fans at the arena will be renamed Terra Club as part of the agreement. According to a press release, these fans include companies with a total capitalization above $1 trillion.

“These fans represent a new market for Terra both on the individual and institutional level.”

The partnership aims to increase awareness of the Terra brand and seeks to enhance the use of Terra UST stable coin by integrating UST as a payment option at Nationals Park from next season.

Recall that in 2021 in the US, the FTX crypto derivatives exchange bought the naming rights of the home arena of the Miami Heat NBA club for $90 million until 2040.

Also, the Crypto.com cryptocurrency platform signed an agreement to rename the Staples Center, home of the Clippers and Lakers NBA teams, to the Crypto.com Arena. The amount of the deal concluded for 20 years was $700 million.

Manchester United Selects Tezos As Its Official Training Kit Partner

Mark Brennan
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Manchester United Selects Tezos As Its Official Training Kit Partner

Blockchain platform Tezos has entered into a multi-year partnership agreement with Premier League football club Manchester United.


 

As part of the agreement, the Tezos logo will be displayed on the training kits of both the club’s men’s and women’s teams. The financial aspects of the deal were not disclosed.

Fans will see the Tezos logo on their team training kit ahead of the February 12 game against Southampton. The club is also using the platform’s ecosystem to create new ways to interact with fans. Tezos has pledged to support the Manchester United Foundation’s educational initiative.

On Feb 4th, TheCryptoBasic reported the possibility that Blockchain platform Tezos can become the new sponsor of the football club “Manchester United.”

Crypto Investors Loss Over $2 Million as Baby Musk Coin Developers Pull the Rug

Albert Brown
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Crypto Investors Loss Over $2 Million as Baby Musk Coin Developers Pull the Rug

Baby Musk Coin (BABYMUSK) is the latest cryptocurrency project to pull the rug on investors, as millions of dollars are carted away by its developers. 



The token, which launched in late January, saw the Baby Musk Coin team raise $2 million in an Initial Coin Offering (ICO). 

Several crypto traders who missed out on the gains of other memecoin projects like Dogecoin (DOGE), Shiba Inu (SHIB), Baby Doge, etc., purchased several amounts of BABYMUSK, with the hope of recording major profit when its price soars like the others. 

However, their hopes were cut short after Baby Musk Coin’s founders exploited a bug in the project, stealing its liquidity and leaving the project for dead. 

The unfortunate incident saw the price of BABYMUSK crashed nearly 100% at the time of writing. 

An Obvious Scam Since Inception

Like several other crypto projects that have suffered similar fates, investors were warned beforehand not to invest their funds in the token because of the numerous red flags spotted.  

A Twitter user named @NOSHITCoin_io took to the popular microblogging platform to inform the crypto community that people were prevented from selling the token. 

Typically, the team behind Baby Musk said the sale feature was disabled in a bid to prevent early traders from dumping their accumulated tokens on new traders, which could result in a price crash. 

@NOSHITCoin_io also informed prospective Baby Musk investors that the token’s developers hold a large amount of the cryptocurrency. 

Unfortunately, several traders ignored the warnings as they continued to throw money into the project. 

As at yesterday, Baby Musk recorded a 30% gain following widespread adoption. At press time, the token’s price did not only crash nearly 100%, it also deleted every form of its existence, including its website and Twitter handle. 

 

Rise in Crypto Rug Pulls

The crypto industry has had its fair share of scams, with billions of dollars siphoned from investors in different forms of fraud. 

One of the most popular crypto scams is rug pulls, a fraudulent effort by a cryptocurrency developer to steal liquidity from its pool. 

Last week, a Youtube streamer was reported to have pulled the rug on his fans, after stealing $500,000 from them and using the illicit gain to buy himself a Tesla. 

Similarly, developers of a cryptocurrency that is based on the popular Netflix series Squid Game, also pulled the rug on investors to the tune of over $2 million in November 2021. 

 

FTX And Decentraland (MANA) Exchange Traded Products Listed On Swiss Stock Exchange ‘BX Swiss’

Mark Brennan
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FTX And Decentraland (MANA) Exchange Traded Products Listed On Swiss Stock Exchange ‘BX Swiss’

21Shares today announced the listing of two new cryptos exchange-traded products (ETPs) of Decentraland (Mana) and FTX token on BX Swiss.


BX Swiss is a Swiss stock exchange operated by BX Swiss AG. Its head office is in Zurich and is supervised by the Swiss Financial Market Supervisory Authority.

The details of Mana and FTX ETPs are:

  • 21Shares Decentraland ETP (Mana):  BX Swiss, ISIN: CH1161102699, Ticker: Mana
  • 21Shares FTX Token ETP (AFTT): BX Swiss, ISIN: CH1145930983, Ticker: AFTT

Hany Rashwan, CEO and co-founder of 21Shares said,

“Adding the worlds’ first NFT & single Metaverse ETP and one of the world’s leading crypto exchanges to our product suite is a key milestone for us in making crypto accessible for everyone.”

21Shares manages over $2 billion in 28 cryptos ETPs and over 100 listings, including the world’s only ETPs tracking Binance, 4 Crypto Index Baskets, and two staking reward ETPs (Tezos and Solana). Its products are listed on 10 regulated European and Swiss trading exchanges.

Recently 21 Shares announced the listing of Chainlink (LINK), Terra (LUNA), and Uniswap (UNI) ETPs on Euronext Paris and Euronext Amsterdam. The three crypto-related products made their debut in the Paris arm of Euronext under the ticker ALINK FP, LUNA FP, and AUNI FP.

 

U.S Congressman Jason Powell Proposed A Bill That Will Enable Tennessee To Invest In Crypto And NFTs

Mark Brennan
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U.S Congressman Jason Powell Proposed A Bill That Will Enable Tennessee To Invest In Crypto And NFTs

A bill has been submitted to the Tennessee House of Representatives (USA) that, if approved, will allow government agencies to invest in cryptocurrencies and NFTs.



Tennessee House Bill 2644 proposes the use or investing in crypto by state. The document proposes amendments to state laws regarding eligible investments. In the case of counties, the permitted use of “free funds”.

“As introduced, authorizes a county, municipality, or the state to invest in cryptocurrency, blockchains, and non-fungible tokens…An ACT to amend Tennessee Code Annotated, Title 5, Chapter 8, Part 3; Title 6, Chapter 56, Part 1; Title 9, Chapter 4, Part 6 and Title 47, relative to investment in cryptocurrency, blockchains, and non-fungible tokens.”

The author of the initiative, Congressman Jason Powell, also proposed the formation of a commission on research on cryptocurrencies and blockchain.

In July 2021, a blockchain task force based in Jackson, Tennessee, USA began exploring the possibility of paying property taxes and paying salaries in the first cryptocurrency.

The latest announcement complements the previous plans of the US State to explore the potential of the first cryptocurrency to integrate into the financial system. Previously city authorities announced the possibility of paying salaries in bitcoin, mining the first cryptocurrency, and adding BTC to the reserves of the municipality.

In January 2022, US senator Wendy Rogers introduced a bill to accept Bitcoin as a legal tender in the State Of Arizona.

Miami and New York have already launched their city coins while Miami Mayor Francis Suarez and Newly Elected New York’s Mayor, Eric Adams are willing to receive their Paychecks In Bitcoin.

Earlier, US Congressional candidates Shrina Kurani and Blake Masters issued NFTs to fund the election campaign.

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