The Shib Crypto Recap: Thursday

Today’s key discussions in the crypto space are influenced by crucial developments surrounding regulation and policy—topics that have become increasingly significant as the industry matures. Adding to the excitement, Shibarium has made waves with its record-breaking total value locked (TVL) once again. Meanwhile, Shytoshi Kusama has offered valuable perspectives on the innovative features of the upcoming TREAT token.

Former CFTC Chairman Christopher Giancarlo suggested that the SEC might discontinue its lawsuit against Ripple. He shared these views in an interview with FOX Business in which he addressed cryptocurrency regulation under a Trump administration. Giancarlo urged the SEC to reconsider cases they have lost in court. His insights imply that the SEC could choose to dismiss the Ripple case given recent developments.

In related news, former SEC Commissioner Paul Atkins is considered the leading candidate to head the SEC under President-elect Donald Trump. He has been interviewed by Trump’s team and brings valuable experience as a former commissioner and staffer. Atkins is recognized for his knowledge of cryptocurrency and pro-innovation stance. Fox Business Journalist Eleanor Terrett said he could “restore the agency to the so-called ‘gold standard.’” His appointment may indicate a regulatory shift from the SEC to the CFTC.

The Federation Council in Russia has approved a new bill that imposes taxes on cryptocurrency transactions and mining, pending President Putin’s signature. The amendments will exempt cryptocurrency transactions from value-added tax and tax crypto trading income like securities, capped at a 15% personal income tax rate. If passed into law, crypto mining operators will need to report essential client details to tax authorities. Mining earnings will also be taxed based on their market value upon receipt.

Growth and Empowerment: Shibarium’s $8.71M TVL and the Potent Role of TREAT in the Shib Ecosystem

Now shifting focus to important updates from the Shib ecosystem and Shibarium, there’s plenty to celebrate. Shibarium has just achieved a new TVL record of $8.71 million, reflecting a 6.9% increase within a single day. This growth reveals heightened interest in decentralized applications and liquidity pools. Furthermore, active accounts grew by 13.6% to about 201,600, while transaction volume exploded by 10,363.6%, climbing from 5.45 million to over 569.93 million.

Shiba Inu’s Shytoshi Kusama recently highlighted the importance of the TREAT token in the ecosystem. He responded to a tweet from Altcoin Gordon about a rug-pull, stating that TREAT’s features would address trust and accountability in crypto. As a governance token, TREAT will enable users to participate in decision-making for the Shiba Inu ecosystem. Kusama affirms that this will empower users to have a voice in the future of the project.

Stay abreast of the latest happenings in the Shiba Inu community and the broader cryptocurrency market by tuning in to “The Shib and Tell,” Shiba Inu’s official and only podcast on Spotify. Don’t forget to subscribe to The Shib Daily on YouTube as well for a wealth of exclusive insights and updates.

Malaya has positions in SHIB, ETH, USDT, MATIC, etc. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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