Crypto News Digest by U.Today

Here are the top four news stories of the last day presented to you by U.Today.

Bitcoin Suddenly Plunges Below $20,000. Here’s Why

Yesterday, the world’s largest cryptocurrency, Bitcoin, fell below the psychologically important $20,000 level, hitting an intraday low of $19,559 on the Bitstamp exchange. According to Coinglass data, the market saw $112.83 million of crypto liquidated in one hour alone, with long positions accounting for 94.94% of the wiped out positions. The most likely reason for the plunge is cryptocurrency contagion caused by the uncertainty of crypto exchange FTX following the recent spat with Binance. As reported by U.Today, Binance CEO CZ revealed that the company decided to sell all of its FTT tokens following rumors that Alameda Research, a firm closely linked to FTX, was having financial problems.

SHIB payments accepted at this five-star luxury hotel in Dubai: details

Travala, a crypto-friendly travel site that added support for Shiba Inu in December 2021, announced several good news for holders of this meme coin. From now on, SHIB enthusiasts can book at the five-star luxury hotel “W Dubai” with their crypto assets. W Dubai is a hotel destination for the renowned W Hotels brand, an exclusive American lifestyle hotel chain owned by Marriott International. Apart from this, SHIB can also be used to order more than three million travel products worldwide on Travala’s website, including flights, hotels and travel packages. Earlier this year, the company announced that SHIB could be used to order supercars such as Ferrari, Lamborghini, Rolls-Royce, McLaren, Aston Martin and Bugatti.

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Ripple rejects scandalous crypto blogger as director

In accordance Ben “Bitboy” Armstrong’s tweet from yesterday, his application for the role of Ripple director in Singapore has been rejected. The cryptoblogger posted a screenshot of an official response from the Ripple Talent Team, apologizing to Ripple Singapore for not joining them as they “could have had something very special.” As before reported by U.Today, Armstrong decided to apply for the role of director of strategy and operations at Ripple Singapore as a joke after David Schwartz, the company’s CTO, offered to bring in Twitter employees who were fired following Musk’s acquisition of the social media giant. Meanwhile, Ripple continues to hire despite the crypto winter: currently there are more than 350 vacancies across North America and Asia.

1 trillion SHIB moved from FTX, here’s what happened

Per Etherscan data, yesterday, the Shiba Inu whales totally moved 1.5 trillion SHIB coins, with the majority of them moved from the FTX exchange. Three transactions were made by anonymous wallets and had 502,385,000,000; 183,243,945,997 and 108,280,591,660 SHIB – 794 billion in total. A total of 502.3 billion SHIB was sent from a wallet on the FTX exchange to the address 0x12da64f9c7b4e9a73f9e177cd18c40cf307306f4. This wallet now contains a whopping 1,002,404,900,000 Shiba Inu. This may indicate that the owner fears that something may happen to the FTX exchange and its clients’ assets. As reported by U.Today, FTX limited withdrawals to $1,000, which may indicate that the exchange has become insolvent.