XRP Achieves Impressive Breakthrough in Dubai, Arthur Hayes Unveils His BTC Plan, 4.4 Trillion SHIB Withdrawn from Major Exchange: Crypto News Digest by U.Today

U.Today - U.Today presents the top three crypto news stories over the past day.

XRP achieves major breakthrough in Dubai

According to Ripple's recent on X platform, the Dubai Financial Services Authority (DFSA) has greenlit firms within the Dubai International Financial Centre (DIFC) to integrate the XRP token into their virtual asset services. Following acceptance by the DFSA, XRP will now be included on the list of cryptos already approved under the DFSA's virtual asset framework, along with BTC, ETH and LTC. In addition to providing XRP with legal and regulatory clarity in the DIFC, this achievement allows institutions within the DIFC to enable faster and more efficient global value exchanges.

"Time to pump assets": Arthur Hayes unveils his Bitcoin (BTC) plan

In a recent X thread, BitMex cofounder and crypto expert Arthur Hayes on the Fed's actions. Even though this governmental institution announced its decision to keep its rate within the range of 5.25% to 5.5%, Hayes expressed his concerns about inflation, pointing out that all inflation measures are currently higher than the Fed's 2% target. "Guess it's time to pump financial assets," concluded the expert, hinting at crypto's opportunity for growth and emphasizing the potential of Bitcoin. In another thread, Hayes stated that while the Fed might be tightening its policies, the broader U.S. government is loosening its monetary stance, suggesting that Yield Curve Control (YCC) might push prices to previously unheard-of highs, possibly even $1 million, per Bitcoin.

4.4 trillion SHIB withdrawn from major exchange, here's surprising destination

Data provided by Whale Alert blockchain tracker shows that on Wednesday, Nov. 1, a total of 4,464,530,677,374 SHIB from Bitvavo to an undisclosed wallet. At the moment of transfer, this astonishing amount of meme tokens was valued at $33,914,658 in fiat. However, according to transaction details added later, it was found out that the receiving wallet also belongs to Bitvavo, which means that it was this exchange's internal transfer. Bitvavo has carried out several similar large SHIB transactions in the last two months to reshuffle its crypto balances. Additionally, Whale Alert has been spotting transfers of more than 4.3 trillion Shiba Inu carried out by whales' anonymous digital wallets.

This article was originally published on U.Today