Crypto News Digest by U.Today

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Valeria Blokhina

Don’t miss any important crypto events that happened over the weekend with U.Today’s news digest!

U.Today has prepared a summary of the top four news stories over the weekend.

SHIB lead dev warns he has no connection to this new “Shiba Inu token”

Shytoshi Kusama, Shiba Inu project’s lead developer, has recently taken to Twitter to clarify his relationship to the PAW meme token. Kusama wrote that he has “nothing at all” to do with this recently emerged coin. The developer also added that he does not own any PAW coins, warning the SHIB army to be careful, as there are “many wolves in Shib’s clothing.” However, Twitter user SHIBARMY CANADA (@Dezaxe) shared a screenshot that shows Shytoshi Kusama’s contradictory Telegram post saying that PAW is not fake and that there are some “nice folks behind it.” The same user then tweeted that Kusama should better focus on Shibarium’s release instead of spreading negative comments about projects that want to build on this Layer-2 protocol for SHIB.

“Rich Dad Poor Dad” author alerts of Bitcoin (BTC) crash on Valentine’s Day

According to a recent tweet by “Rich Dad Poor Dad” author Robert Kiyosaki, the crypto community should get ready for Feb. 14, but not because it is Valentine’s Day. The renowned investor believes that this day will bring a real massacre to the financial markets, referring to the Stansberry Research report. The reason for such pessimistic expectations is that Feb. 14 was chosen for the release of the latest U.S. consumer price index. This index will indicate the future direction of the Fed’s monetary policy and will directly affect the quotations of financial assets and cryptocurrencies. In Kiyosaki’s view, “everything will crash” after the index is released, including prices for silver, gold and Bitcoin. However, the good news is that it will offer a chance to buy more of the right financial instruments in exchange for “fake” dollars, says the writer.

Pro-Ripple lawyer takes major step in XRP investor lawsuit

As tweeted by defense lawyer James K. Filan, CryptoLaw founder and XRP holders’ attorney John E. Deaton filed a motion for an amicus brief in the Zakinov v. Ripple case. Deaton, five other XRP holders and SpendtheBits Inc., a company that has integrated XRPL, filed the motion on behalf of 75,890 XRP holders from the U.S. and 143 other countries. As previously mentioned, the plaintiff opposes XRP holders’ request to file an amicus brief, while the defendant, Ripple, consents. According to Deaton, without the court’s permission to file the proposed amicus brief, the interests of more than 75,000 XRP holders would not be pursued. He also stated that many different XRP holders acquired XRP for many different reasons, with one of them being the use of XRP as a substitute for fiat.

Shiba Inu burn rate spikes 1,364% as following happened to SHIB

Data provided by the Shibburn platform on Saturday showed that the burn rate of the Shiba Inu cryptocurrency spiked by a whopping 1,364% as the SHIB army managed to destroy a total of 9,607,635 tokens. The burn rate increased along with the meme coin’s price; it grew by 3.31% after falling by nearly 16% since Wednesday. At the moment of writing, however, SHIB is trading down 4% over the past 24 hours, at $0.00001247. Meanwhile, the SHIB community is still awaiting the launch of the Shibarium Layer-2 protocol. Their impatience has been ignited by a recent screenshot with Shytoshi Kusama’s reply. In a screenshot, the pseudonymous user complained that “Shibarium news is awfully quiet,” Kusama simply responded: “Temporarily.” As reported by U.Today, the lead dev previously hinted that Shibarium may be released either on Feb. 10 or Feb. 14.

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