Crypto News Digest by U.Today

Valeria Blokhina

U.Today’s news digest helps you stay tuned with the latest happenings in the crypto world

Check out the top four news stories from the past day brought to you by U.Today.

The new Shiba Inu game is already a success in Vietnam

In a recent tweet, Shiba Inu Games Alpha Director William Volk shared a follow-up to the first tests of Shiba Eternity, a new collectible card game, in Vietnam. He said that due to a higher than expected number of players, the team had to increase the capacity of the game servers by 50 times, which indicates that the game is already enjoying great popularity. Shiba Eternity was created in partnership with Melbourne, Australia-based game developer PlaySide Studios, and its name was unveiled in early August to much fanfare. Besides the success of Shiba Inu Games, the meme coin delighted its community by rising to 12th place by market capitalization on CoinMarketCap.

XRP classified as “digital currency” by Goldman Sachs, Wells Fargo and HSBC

Ripple’s small victory to be authorized to serve subpoenas to authenticate certain videos of senior SEC officials giving inspirational speeches the XRP community to help the fintech giant find justice, by being the true amici curiae. They pointed to several publications citing XRP as non-security, including one from HSBC on DLT technology. The post mentions Ripple’s XRP Ledger, stating that it “provides real-time cross-border settlements, using tokens that represent central bank currencies.” Like before covered by U.TodayGoldman Sachs’ Investment Banking division identified Ripple as a “payment opportunity”, alongside Circle and Coinbase, in its “Digital Assets and Blockchain Overview”.

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‘Big Short’ hero Michael Burry leaves all markets; is this a sign for crypto?

Michael Bury, the hero of the movie “Big Short” who predicted the great crisis of 2008, sold 95% of his holdings, keeping only one asset on his balance sheet. It seems that the analyst is betting on a further market downturn, which if it occurs will impact the majority of cryptocurrencies. The only stock remaining in Burry’s portfolio is GEO Group, which invests in private prisons and mental health facilities in the United States. Currently, the trader holds $3.3 million worth of GEO. Back in July, Burry said we are halfway through the bear market and he expects further dips. If he is right, both traditional and digital asset markets will see a massive meltdown in the coming month. Some crypto investors have also predicted a correction, as fundamental signals are moving in divergence with the price of most assets.

Ripple to power remittances between Japan and Thailand via new partnership

San Francisco-based fintech giant Ripple has partnered with SBI Remit to launch a new joint project to streamline Japan-Thailand money transfers. Together with Thailand’s Siam Commercial Bank (SCB), SBI Remit, Japan’s largest payment provider, uses RippleNet to power real-time payments between the two countries. As stated in Ripple’s press release, the implementation will allow over 47,000 Thais in Japan to freely send yen to Thailand using ATMs, and within a second it will be available for the withdrawal in Thai baht. Previously, such a transaction required the intervention of a special agent and was mainly done in cash.

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