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Here Are Next Key Dates in Ripple-SEC Lawsuit, BTC Just Broke New Record, Ripple Expands ODL to France and Sweden: Crypto News Digest by U.Today

12 Oct, 20223 min readRegulation
Here Are Next Key Dates in Ripple-SEC Lawsuit, BTC Just Broke New Record, Ripple Expands ODL to France and Sweden: Crypto News Digest by U.Today

U.Today provides you with an overview of the past day’s crypto events with the top four news stories.

XRP: here are next key dates in Ripple-SEC lawsuit

Earlier in September, James K. Filan, a defense lawyer who is closely following the Ripple-SEC lawsuit, pinned a tweet with a scheduling update regarding the motions for summary judgment, and here i’s what to look for on the remaining days of October. Filan recently wrote that "if the SEC decides to file a motion for reconsideration of Judge Torres’s ruling on the SEC objections regarding the Hinman documents, that would be due October 13." On Oct. 18, parties are expected to file all materials relating to oppositions to summary judgment under seal. On Oct. 20, the parties will confer to identify redactions sought by each side in the opposition briefs. Oct. 24 remains a key date as the parties are expected to file publicly redacted versions of the opposition briefs.

Bitcoin just broke new record, here's what it is

Bitcoin is still breaking records: as shared by the Documenting Bitcoin Twitter account, BTC mining difficulty is now 35.6 trillion hashes. The difficulty of the network has been adjusted after the massive drop of the hashrate following June's plunge, when BTC’s price lost more than 30% in a matter of days. Low market values and increasing electricity costs forced miners to shut down their rigs back then, but the situation is currently improving, with BTC mining difficulty on the rise again and more miners turning their machines. However, increasing miner activity can be seen as the first sign of a market reversal, as they are usually seen as the first group of participants to return to the industry. Unfortunately, the main source of funding for the market would be institutional investors, and retail capital is no longer able to maintain the $1 trillion industry.

Ripple expands ODL to France and Sweden via brand new partnerships

According to Ripple’s recent blog post, the fintech giant brought ODL technology to France and Sweden by inking partnerships with Lemonway and Xbaht companies. With a headquarters in Paris, Lemonway is Ripple’s first partner in France. It provides payments for online marketplaces and will now be using RippleNet-connected ODL, a system that uses XRP token for fast and low-cost crypto-based transactions. Ripple’s first Swedish client, Xbaht, enables the transfer of funds between Sweden and Thailand. Thanks to partnership with San Francisco-based fintech firm, Xbaht will be able to offer quick and cheap remittances using ODL, which will also be supported by Tranglo – a hub for cross-border payments working in Singapore.

Here's how billions of SHIB can be burned daily

Shib Super Store, a Twitter account run by smartphone games maker Travis Johnson, has shared a method that can potentially help the SHIB army burn billions of these meme coins. According to Johnson, Bricks Buster, one of the games he created, continues generating the biggest advertising income, which he uses to purchase SHIB to later send to a dead-end wallet. Depending on the CPM levels, various amounts of SHIB can be burned: the 1 million level can help remove 1.1 billion meme coins per day, the 110K level can help burn 110 million SHIB and the 10K level burns 11.1 million SHIB. Meanwhile, Johnson continues burning SHIB every Sunday, using the Amazon affiliate program as one of the tools for earning cash with which to buy SHIB.

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