Shiba launch fail, More ETF filings, Spicy Ripple drama

Author

Valko
August 17, 2023

Today’s News

  • 🚀 Shiba Inu launches L2 in attempt to become legitimate

  • 📂 Valkyrie joins the bandwagon & files for Ethereum ETF

  • 🌶️ Ripple’s spicy opposition to SEC’s appeal

🚀 Shiba Inu launches L2 in attempt to become legitimate

  • Shibarium layer-2 launched with 21M+ users in testnet (beta) phase

  • Designed, like every other layer-2, to tackle ETH’s scalability issues

  • Technical difficulties led to $2.5M (or more) locked in bridge contract

  • Founder admits funds are lost, but blockchain experts disagree 

  • $SHIB is sick of being a meme-coin, wants to be legit, fails miserably

    Shibarium founder on lost funds

📂 Valkyrie joins the bandwagon & files for Ethereum ETF

  • Asset manager Valkyrie files for ETH futures ETF yesterday

  • Previously filed for BTC + ETH futures ETF on Aug 4th

  • Filing states all fund's assets will be invested in ETH futures

  • Joins rush of other asset managers applying for ETH ETFs

  • These entities have $206B AuM, almost equal to ETH’s market cap

    Screenshot of the Bloomberg terminal pending applications.

🌶️ Ripple’s spicy opposition to SEC appeal

  • In July, courts ruled $XRP’s "programmatic sales" was not a security

  • SEC believes court recached, "wrong result" and is seeking appeal

  • Ripple Chief Legal Officer believes court should reject appeal

  • CEO describes SEC’s claims as "Utter Nonsense" “not up for debate”

  • Ripple has filed it’s opposition to the SEC’ appeal yesterday

Other Headlines - Peripheral Vision

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