Global Crypto Update: SEC Shutdown Prep, Shiba Inu Whales Sell Rapidly, RLUSD Market Analysis

Crypto News Digest by U.Today

SEC Preparing for Shutdown, Shiba Inu (SHIB) Whales Selling Rapidly, Millions of RLUSD Ready to Hit Market After Recent Launch

In a surprising move, the Securities and Exchange Commission (SEC) has announced that it is preparing for a shutdown in light of a potential government shutdown. This development has sent shockwaves throughout the crypto community.

Meanwhile, Shiba Inu (SHIB) whales are selling their tokens rapidly, with many wondering what this could mean for the coin’s future price action.

Additionally, we have some exciting news on RLUSD, Ripple’s recently launched stablecoin. According to data provided by the Ripple Stablecoin Tracker, more than 10.3 million RLUSD were transferred in batches, including a significant transfer of 1.5 million sent from the Ripple Treasury to the Lithuania-based crypto exchange Uphold.

In an interview, Ripple President Monica Long highlighted the current valuation of the stablecoin market at approximately $160 billion and predicted that it could grow to around $3 trillion within the next four years. She emphasized the increasing demand for stablecoins that prioritize regulatory compliance, diversification, and utility, all of which RLUSD aims to provide.

Long emphasized Ripple’s mission to “bridge the gap between traditional finance and blockchain,” further solidifying its commitment to innovation in the digital asset space.

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Source: u.today