U.Today – U.Today has prepared the three most significant news from the last day.
Edward Snowden Makes Iconic Remark as Berkshire Hathaway (NYSE:) Falls 99.97%
On Monday, June 3, the New York Stock Exchange was rocked by technical problems that caused Warren Buffett’s Berkshire Hathaway Class A shares to plummet by almost 100%. The outage led to trading halts in these stocks, as well as Barrick Gold (NYSE:) and Nuscale Power. Although the glitch was quickly fixed and trading in all three stocks resumed on the same day, the incident did not go unnoticed by the cryptocurrency community, with many digital asset enthusiasts taking to social media to remind Warren Buffett of his criticism of Bitcoin. In particular, the businessman called BTC a “gambling asset” with zero value. However, as many in the cryptocurrency community have noted, the largest cryptocurrency has never witnessed such a dramatic decline, unlike Berkshire Hathaway stock. Edward Snowden, the infamous whistleblower and defender of privacy rights, joined the army of commentators; in his post
Australian spot Bitcoin ETF platform launches, here’s why it stands out
Jan3 CEO and renowned Bitcoin enthusiast Samson Mow took to X to share that Monochrome Asset Management’s spot Bitcoin ETF (IBTC) has gone live on the Cboe Australia exchange. As Mow noted, it is the first and only Australian ETF to hold Bitcoin directly. According to a previous U.Today report, Australia’s recent spot Bitcoin ETF is expected to generate inflows of around $1 billion. In a miniature thread, Samson Mow highlighted the unique features of IBTC: First, the Monochrome Spot Bitcoin ETF offers global investors direct creation or redemption in kind, which allows them to directly exchange their BTC for IBTC and vice versa, worldwide. Second, Monochrome has partnered with lending providers in Australia to enable sophisticated investors to borrow money against their ETF holdings, using IBTC as collateral. According to Mow, lending through IBTC may come with a better loan-to-value ratio (LVR) and lower interest rates than established coin lending.
Following the SHIB team’s recent warning on this key metric, SHIB has skyrocketed by 10,990%.
Data shared by the Shibburn website shows that as of the morning of June 3, 21,435,658 SHIB tokens have been transferred to blind wallets, with only two transactions taking place, resulting in 21,315,658 and 120,000 SHIB tokens being withdrawn from circulation. The burning of such an astonishing amount of meme coins resulted in a 10,990% escalate in the burn rate, which is a more than 30-fold escalate compared to the 348% SHIB burn rate escalate observed on Monday and reported by Shibburn. Meanwhile, the administrator of the SHIB Discord, known as DaVinci, recently issued an significant warning to the SHIB community. He urged SHIB enthusiasts not to blindly invest in recent projects on the ShibaSwap DEX platform, even if they claim to be affiliated with or supported by the SHIB development team. DaVinci also warned that many bad actors are making fraudulent offers to invest in the TREAT token, which has not yet been launched.
