Nearly $500 Million BTC Withdrawal Stuns Coinbase, Ripple Burns Stablecoin Tokens, Shytoshi Kusama Highlights Epic SHIB Move in Gaming Sphere: Crypto News Digest by U.Today

U.Today - Here are the top three news stories by U.Today from the past day.

Nearly $500 million Bitcoin withdrawal stuns major U.S. exchange

According to data provided by Whale Alert, yesterday, leading U.S. crypto exchange Coinbase (NASDAQ:COIN) witnessed the withdrawal of nearly half a billion dollars worth of Bitcoin. A total of 7,999 BTC, or roughly $472.8 million, left the exchange's cold wallet in several transactions to an address with the code "13F8P8." Later on, this massive amount of flagship crypto was sent to 50 other unidentified addresses in exact portions of 157 BTC, or $9.27 million in current prices. It remains unknown what stands behind this remarkable activity. Some speculated that it could be one of the Bitcoin ETF (TSX:EBIT) issuers (BlackRock (NYSE:BLK), for example), which is accumulating crypto despite all the recent setbacks and volatile price movements.

Ripple burns stablecoin tokens

As reported by @RLUSD_TRACKER, an X handle that tracks the minting and redemption of Ripple's stablecoin RLUSD, yesterday, 185 Ripple USD (RLUSD) tokens were burned at the RLUSD Treasury. The tokens were destroyed by sending them back to the issuer account. Earlier this month, U.Today reported that Ripple started testing its stablecoin in private beta. Per XRP Scan data, the minting process began roughly a week ago with the aforementioned 185 RLUSD. Currently, access to the new product is limited to some of the company's enterprise partners. After the beta testing stage, the stablecoin will become available to the general public.

Shytoshi Kusama highlights epic SHIB move in gaming sphere

In a recent X post, Shiba Inu lead Shytoshi Kusama praised the latest move by Shiba Eternity; the project has gone through rebranding and is now called PlayWithShib, with its X account also renamed from @ShibaEternity to @playwithshib. "Such an epic move!" wrote Kusama in his post. The renaming is not the only change the project has prepared for the community; from now on, it will expand its presence in the gaming sphere far beyond its first NFT card game for smartphones. At the end of July, the Shiba Eternity team announced its intentions to release multiple additional games on Shibarium, a layer-2 solution. Also, at the beginning of August, Shiba Inu marketing lead Lucie teased a major update to this game – its transition from Web2 to Web3.

This article was originally published on U.Today