Crypto News Digest by U.Today
Check out the latest crypto news and industry updates with the U.Today News Roundup!
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U.Today gives you an overview of the last day’s crypto events with the top three news stories.
Arthur Hayes shares epic Bitcoin predictions as a financial storm is about to hit
Arthur Hayes, the former head of major crypto exchange BitMEX, recently published an essay called “The Denominator” on his Medium blog. In the essay, Hayes tried to find the answer to the question “Who will pay for the banking crisis ignited by the Fed’s deflationary policies?” He also offered two bailout options, which guarantee both safety and the potential for financial gain. These two solutions are: reducing the price of money by lowering the Fed rate or increasing the money supply, which will also lead to the “cheapening” of money. In both of these cases, Hayes sees salvation in Bitcoin and gold as a means of preserving value outside of the banking system.
Shiba Inu (SHIB) big announcement imminent, here’s what it might be
According to a recent tweet by SHIB enthusiast Lucie, the Shiba Inu community should expect a big announcement in the near future. LucieSHIB tweeted that this week the project’s team may introduce Shiba Inu’s cold wallet “if all goes well.” To confirm her words, Lucie attached a screenshot showing the message from developers. Aside from information about the cold wallet, the screenshot includes an update on other major events for Shiba Inu, such as “organization of general AMA with Huobi Exchange, AMA with Certik and possible partnership.”
Ex-Ripple CEO Urges El Salvador to Switch to XRP
Following the growing popularity of BRC-20 tokens, inscriptions and sayings, have Bitcoin the network has experienced an increase in demand, which in turn leads to higher fees for Bitcoin users. This caught the attention of journalist Marce Romero, who took to Twitter to report that in El Salvador he witnessed a person having to pay a $20 fee to withdraw $100. Considering the country’s average salary of $300-$350, this is a significant expense. Former director of developer relations at Ripple Matt Hamilton responded to Romero and recommended the use of technology better suited for this purpose, such as XRP and XRP Ledger. He added that it doesn’t help anyone to get upset about the fact that BTC doesn’t scale and people are using it.
