Summary:
$500 million Bitcoin withdrawal from Coinbase raises eyebrows.
Ripple burns 185 RLUSD tokens, preparing for broader stablecoin launch.
Shiba Inu's Shytoshi Kusama praises rebranding of Shiba Eternity to PlayWithShib.
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Nearly $500 Million Withdrawal Stuns Major U.S. Exchange
According to data from Whale Alert, the leading U.S. crypto exchange Coinbase (NASDAQ: COIN) experienced a staggering withdrawal of nearly $500 million worth of Bitcoin. A total of 7,999 BTC, approximately $472.8 million, was transferred from the exchange's cold wallet to an address identified by the code "13F8P8". This colossal amount was subsequently sent to 50 other unidentified addresses, each receiving 157 BTC (about $9.27 million). Speculation is rife regarding the motives behind this remarkable transaction, with some suggesting it could be linked to a Bitcoin ETF issuer like BlackRock, which is quietly accumulating assets amid recent market volatility.
Ripple Burns Stablecoin Tokens
In another noteworthy development, Ripple has announced the burning of 185 RLUSD tokens from its stablecoin treasury. This action was tracked by @RLUSD_TRACKER, which monitors the minting and redemption processes of Ripple's stablecoin. Earlier this month, Ripple revealed it was testing this stablecoin in a private beta phase, initially minting the aforementioned tokens. Currently, only select enterprise partners have access, but the stablecoin is expected to be available to the general public post-beta testing.
Shytoshi Kusama Highlights Epic SHIB Move in Gaming Sphere
In the gaming world, Shytoshi Kusama, the lead developer of Shiba Inu, has praised the recent rebranding of Shiba Eternity, now known as PlayWithShib. The project has also transitioned its social media account from @ShibaEternity to @playwithshib. Kusama described the rebranding as an "epic move!" This change is part of a broader strategy to expand its gaming presence beyond its initial NFT card game. The team has also hinted at multiple upcoming games on Shibarium, a layer-2 solution, and teased a major update transitioning the game from Web2 to Web3.
This article was originally published on U.Today.
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