Take a closer look at what’s happening in the world of crypto with U.Today’s news digest!
Here are the top four news stories presented to you by U.Today.
SHIB Army rejoice: Elon Musk sells his “Burnt Hair” perfume for SHIB
Apart from being a head of Tesla, SpaceX and a few small-cap companies, Elon Musk has acquired a new title: “Perfume Salesman.” This funny description appeared on the centibillionaire’s Twitter bio after he launched the sale of a perfume called “Burnt Hair.” According to Musk’s recent tweet, so far, he managed to sell 20,000 bottles of this fragrance. In addition to traditional payment methods, there is also an option to pay in crypto. Thus, holders of SHIB, DOGE and other coins can buy this perfume via BitPay. The perfume costs slightly over $104 per bottle, and it can be paid for with PayPal, via Google Pay, and regular bank cards.
XRP can now be easily bought in Europe straight from bank account, here’s how
Wietse Wind, XRP Ledger’s lead developer, has announced the addition of an on-ramp solution to the Xumm Wallet in a recent tweet. The innovation will allow users to purchase XRP for fiat through Xumm directly from their bank accounts. The new product is currently available only in the Netherlands, the home country of the Xumm Wallet developers. However, according to Wind, there are plans to expand to Belgium, Germany and the UK. Later, an off-ramp solution will be added to the wallet to allow the process of selling XRP for fiat currencies.
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Ripple CEO predicts when SEC lawsuit is likely to end
During his short appearance at the DC Fintech Week conference, Ripple CEO Brad Garlinghouse told an audience that he expects the SEC’s case against his company to be resolved in the first half of 2023. He hopes that the lawsuit will be settled within the next three or four months, but at the same time, he is not ruling out that it could take longer than that. Garlinghouse also added that Ripple could consider a settlement with the SEC, but only in case XRP is recognized as a nonsecurity. As reported by U.Today, both Ripple and the SEC filed motions for summary judgment in September in order not to go to trial.
SHIB team to host burn portal as part of ShibaSwap
According to the Shiba Inu team’s announcement, it will continue hosting the official SHIB burn portal as part of the ShibaSwap decentralized exchange. The portal will be powered by Shiba Inu’s internal development team. The developers are also working on an additional burn utility mechanism. The Shiba Inu team will provide its users with further details about the mechanics of the reward system. Launched in April, the Ryoshi Vision-powered SHIB burn portal allowed users to remove tokens from circulation while also earning passive income in the form of Ryoshi Vision (RYOSHI) ERC20 tokens.