The legal battle between Ripple and the United States Securities and Exchange Commission (SEC) has been a topic of great interest in the crypto community. The conflict began in December 2020 and has since gone through various stages, with both parties trading accusations. Ripple, accused of selling XRP as an unregistered security and breaching securities laws, scored a significant win in July when a US court ruled in its favor. However, the fight is far from over as the SEC has officially appealed the decision. Upholding its determination, Ripple has spared no expense in the case, with costs reaching a staggering $200 million. The company has also enlisted the support of renowned lawyers and professionals, including Rahul Mukhi, a former Assistant United States Attorney, and Lauren Belive, who previously worked at the White House under President Barack Obama. Ripple’s hiring of top talent demonstrates its commitment to achieving a decisive victory in the legal battle.
Shiba Inu’s Rise and Development
Shiba Inu (SHIB), a popular memecoin, has also been making waves in the crypto world with its recent developments. One notable milestone was its acceptance as a payment method for solar panel bills in Texas. Additionally, HSBC clients can now settle their mortgage payments and loans using SHIB. These integrations highlight the growing recognition and utility of the Shiba Inu token in real-world applications.
Introducing Shiba Hub
Another exciting development for the Shiba Inu community is the upcoming launch of an application called Shiba Hub. This app aims to enhance the community’s connectivity, sharing, and creative efforts, serving as a gateway to something extraordinary. By providing a platform for collaboration and interaction, Shiba Hub aims to strengthen the bonds within the Shiba Inu community and support its growth.
The native token of the decentralized exchange ShibaSwap, called BONE, has experienced a significant price increase recently. On September 26, BONE saw a 7% jump, followed by another 6.5% rise on September 27, according to CoinGecko. The token’s value reached $0.92, its highest level since the beginning of the month. The uptrend coincided with the announcement from the Shiba Inu team that the minting of BONE is nearing completion. This milestone marks a crucial step towards renouncing control and ownership of the token, relinquishing authority to the wider community.
Recently, the official Twitter account of Shiba Inu announced the official renouncement of ownership. This step signifies a significant shift in the project’s governance, transitioning towards a more decentralized model. By renouncing control, the creators of Shiba Inu are empowering the community, ensuring that the future of the memecoin is in the hands of its users.
The ongoing legal battle between Ripple and the SEC continues to capture attention, with Ripple fighting vigorously to secure a favorable outcome. Simultaneously, Shiba Inu has seen notable advancements, including its acceptance as a payment method and the upcoming launch of Shiba Hub. The surge in BONE token’s value further indicates the growing interest and confidence in the project. As Shiba Inu renounces its ownership, the community gains greater control over its future. These developments reflect the dynamic nature of the crypto space, where legal battles and technological advancements shape the trajectory of blockchain projects.