© Reuters. Max Keizer Explains Why BTC Failed To Hit $50,000 Despite ETF Hitting, Shibarium Sees 210% Transactions Increase, Ripple CEO Slams SEC Chairman: U.Today's Crypto News Digest
U.Today – Take a look at what's happening in the world of cryptocurrencies by reading the top three news stories from U.Today.
Key reason why it failed to reach $50,000 despite Max Keizer hitting the ETF
In a recent post on . According to Keizer, the “culprit” is Mortimer J. “Tim” Buckley, CEO of Vanguard Bank; After the regulatory agency gave the green light to spot Bitcoin ETFs last week, the bank announced that it will prohibit its clients from purchasing cryptocurrencies and products related to them, including spot Bitcoin ETFs. Following the decision, Buckley said in an interview that the bank would prefer not to offer its clients Bitcoin-based ETFs, as well as gold-based ETFs. According to him, BTC has no intrinsic value and does not generate cash flow.
Shibarium Witnesses 210% Increase in Transactions as Major Exchange Integrates L2
According to data provided by Shibariumscan, Shibarium's daily transactions saw a 210.4% increase in the last two days. Yesterday, the platform recorded 2.43 million transactions, a significant increase compared to the 1.16 million transactions reported on Saturday, which appears to be the nadir of recent activity. The trigger for such an increase in transactions is the integration of Shibarium by the major cryptocurrency exchange Gate.io. As learned in a post by Shiba Inu team member Lucie X, the exchange introduced support for Shibarium; From now on, its users can withdraw BONE tokens directly from the platform to the Shibarium network. This achievement marks an important milestone for Shibarium, being the first major integration with a centralized platform.
criticizes SEC, CEO highlights agency's flaws
As reported by CNBC, Ripple CEO Brad Garlinghouse significantly criticized SEC Chairman Gary Gensler, calling it a “political liability.” Garlinghouse's bitter comment was intended to characterize Gensler's record in overseeing the crypto sector, with long delays in approving spot Bitcoin ETFs and high-profile lawsuits against companies in the crypto industry. The CEO of Ripple stated that he does not understand the interests of who the chairman of the SEC represents, since he does not act either in the interest of the citizenry or in the interest of the long-term growth of the economy. Garlinghouse also highlighted the SEC's losing streak, stating: “I think Gary Gensler is doing the same thing over and over again, and thinking that somehow he's going to win in court. He's kept losing in court.” Garlinghouse said, “One of the definitions of insanity is doing the same thing over and over again and expecting a different result,” referring to what he perceives as Gensler's current anti-crypto campaign.
This article was originally published on U.Today.
