U.Today – Don’t miss any of the latest cryptocurrency news with U.Today’s top three stories from the past day.
Mt. Gox started sending $2.4 billion in (BTC)
According to a recent post by Lookonchain, yesterday, July 16, the defunct Mt. Gox exchange transferred 44,527 BTC worth $2.84 billion to an internal wallet. The most likely reason for the exchange’s change is its preparation to return funds to those who fell victim to the infamous 2014 hack. On the same day, Mt. Gox was spotted transferring 48,641 BTC worth $3.1 billion to Kraken. This development supports the aforementioned theory of an impending return, considering that Mt. Gox chose Kraken as one of the exchanges that would support distribute the lost BTC to creditors. Meanwhile, the movement of such gigantic amounts of Bitcoin sent shockwaves through the market, causing rapid increases in BTC price volatility. Following the transactions, Bitcoin quickly dropped from around $65,000 to $63,315; However, the flagship cryptocurrency managed to get back to the $65,000 level where it currently trades.
Shibarium is growing rapidly with 450% recent users
Data from Shibariumscan shows that yesterday, the number of recent accounts on Shibarium, Shiba Inu’s Layer 2 solution, increased by 450%; while the day before, this indicator was only 6; in the next 24 hours, it reached 27. The boost in the number of recent users signals the growing popularity of the network. In addition, there was a 23% boost in the total number of lively accounts, from 489 to 602. The boost in the number of recent users occurred at the same time, along with an boost in the number of tokens paid as fees using BONE. Accordingly, transaction fees increased from 19.31 BONE to 40.14 BONE. Against the background of the influx of recent accounts and higher transaction amounts, the transaction activity of the network also increased. Accordingly, the number of transactions increased to 4,319 per day, which is 35.6% more than the day before.
‘significantly fewer’ US hires, Garlinghouse says
Ripple CEO Brad Garlinghouse appeared at Fortune’s flagship Brainstorm Tech Summit on Tuesday, July 16. Among other things, Garlinghouse spoke about the company’s hiring strategy, noting that 75% of Ripple’s hires have come outside the United States over the past two years. “That’s a sad reality,” he added. The CEO also noted that 95% of Ripple’s customers are not from the United States. According to Garlinghouse, the company has seen high employee turnover following the SEC’s lawsuit against Ripple in December 2020. However, the company has managed to achieve record growth rates as it has expanded beyond the United States. “The products that we sell, the solutions that we enable, are very global,” Garlinghouse explained.
