Crypto News Digest by U.Today

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

XRP suddenly plunges to $0 on Bitrue exchange, here’s what happened

Yesterday, Bit threat users were shocked to see their XRP long positions liquidated as a result of the asset’s sudden plunge to near zero on the exchange, $0.0001. After several complaints shared by Bitrue users on Twitter, the issue was commented on by XRP enthusiast and crypto lawyer Bill Morgan. According to his explanation, a false wick on XRP futures on Bitrue dropped the XRP price to near zero, liquidating XRP long positions even though XRP’s market price did not fall below $0.46. Several hours later, Bitrue confirmed the incident, calling it a “technical error.” In a Twitter thread, the exchange described the corrective measures it will take to help the affected users. First, all positions made at the time of the event will be reversed and the margin amount will be returned to user accounts. Second, for users who have been liquidated, all losses will be canceled and their margin amount will be refunded to their accounts.

3.1 trillion Shiba Inu (SHIB) at risk as Voyager deal fails

Binance USA, the American wing of global exchange Binance, has backed away from its decision to buy bankrupt cryptobroker Voyager Digital. The cancellation of the deal was explained by the hostile regulatory environment in the US. It’s worth noting that Voyager’s wallet still contains $260 million in crypto assets in total, half of which is USDC and the other half in other cryptos, including 3.1 trillion SHIB worth $32 million. Earlier, U.Today reported that if Voyager was sold to Binance US, trillions of SHIB could flow into the market, which would have an unpredictable effect on Shiba Inu token listings. With tokens still in Voyager’s wallet, the situation has now become even more unclear. Previously, hundreds of billions of tokens were sold from the bankrupt cryptobroker’s address, and the initial balance was over 6 trillion SHIB. It is still unknown whether sales directly from the wallet will continue.

Shiba Inus BONE scores new IPO: Details

LEG, the Shiba Inus governance token and the Shibarium gas token, recently witnessed a surge in adoption among crypto exchanges around the world, and was added by three trading platforms in the past few days. Much to the delight of BONE fans, the asset achieved its fourth listing yesterday as Flitpay, India’s popular crypto exchange, announced that BONE is now live on its platform. Flitpay has listed the BONE/INR pair so users can trade and invest in the pair on their app or website without fees. In the past, the exchange has teased the BONE listing by presenting the community with the choices it intended to list in a poll. According to the voting results, the community showed interest in two assets, BONE and REEF, so both were listed later.