SEC Preparing for Possible Shutdown Amid Funding Concerns: Crypto Market Sees Shiba Inu Selloff, Ripple Stablecoin Launch, and Regulatory Insights

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

The latest news in the world of cryptocurrency has revealed some significant developments. Firstly, it has been reported that the SEC is preparing for a possible shutdown amid concerns over funding. According to sources close to the matter, the regulator is facing significant budget constraints and is currently exploring options to minimize the impact on its operations.

On a different note, Shiba Inu (SHIB) whales have been seen selling off their holdings rapidly in recent days. This has led to a sharp decline in the coin’s value, sparking concerns about market volatility. However, despite this downturn, many analysts remain bullish on SHIB’s long-term prospects.

Meanwhile, Ripple has announced that millions of RLUSD are ready to hit the market after its recent launch. The stablecoin’s debut comes as part of Ripple’s efforts to bridge the gap between traditional finance and blockchain. According to data from the Ripple Stablecoin Tracker, over 10 million RLUSD have been transferred in batches since the launch.

In related news, Ripple President Monica Long has spoken about the potential for the stablecoin market to grow exponentially in the coming years. She emphasized that the current valuation of approximately $160 billion is expected to skyrocket to around $3 trillion within the next four years.

Long also highlighted the need for regulatory compliance and utility-focused stablecoins like RLUSD, which are designed to provide greater transparency and accountability.

Source: u.today