According to U.Today, Shiba Inu's marketing lead, Lucie, recently revealed the original purpose behind the creation of the BONE token on the X platform. Initially, SHIB founder Ryoshi intended BONE to be a reward token for SHIB holders. However, the token's purpose was later altered to facilitate SHIB burns using Shibarium, Shiba Inu's layer-2 solution. Lucie did not disclose whether this decision was made before or after Ryoshi's departure from the project in May 2022. Currently, BONE tokens are used to power transactions on Shibarium, serving as a means for paying gas fees. Lucie emphasized the importance of each token playing its unique role in the Shibarium ecosystem.
In other news, Ripple's Chief Legal Officer (CLO), Stuart Alderoty, hinted at an imminent resolution to the Ripple v. SEC case. This follows the regulatory agency's filing of its redacted remedies reply brief and supporting exhibits. Alderoty criticized the SEC for failing to 'faithfully apply the law' and attempting to mislead the judge overseeing the case. He also accused the agency of disrespecting financial regulators outside the U.S. Despite these criticisms, Alderoty expressed optimism about the resolution of the Ripple case, stating that the company is 'closer than ever' to concluding the lawsuit.
Lastly, Bitcoin supporter Max Keiser made a bullish prediction for the Bitcoin price in a recent X post. Keiser reiterated his 'Bitcoin to $220,000' prediction, citing a 'demand shock meets supply shock' as the reason for this potential outcome. He also predicted the arrival of a 'God candle' on the Bitcoin chart, which he believes will drive the price to his predicted level. At the time of writing, Bitcoin was trading at $62,032, a decrease of less than 1% over the past 24 hours.
