Ripple CEO Congratulates CFTC Chair Nominee, Shibarium Eyes One Billion Transaction Record, Samson Mow Offers 6 Paths to Bitcoin Omega Candle: Crypto News Digest by U.Today
2025-02-14
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Check out U.Today's top three news stories over the past day.
Ripple CEO congratulates CFTC chair nominee
In a recent X post, Ripple CEO Brad Garlinghouse expressed his support for Brian Quintenz's nomination as chair of the Commodity Futures Trading Commission (CFTC). Garlinghouse wrote that the CFTC's role is crucial, as it ensures that the United States "has the most robust markets in the world." The CFTC has been a favored regulator for the crypto industry. Earlier, Garlinghouse endorsed the Financial Innovation and Technology for the 21st Century Act (FIT21), which would position the CFTC as the primary overseer of the industry. Quintenz, who currently heads policy at Andreessen Horowitz’s cryptocurrency division, will succeed Rostin Behnam, who left the agency in January. His nomination has been widely celebrated in the crypto community, with industry leaders like Matt Hougan and Luis Rincon praising his potential to advance DeFi and promote a coordinated regulatory vision for the blockchain and crypto spheres.
Shibarium eyes one billion transaction record, here's possible impact on SHIB price
According to Shibariumscan data, Shibarium currently finds itself on the verge of hitting a significant milestone; the total number of transactions is approaching the one billion mark. At the moment, the layer-2 solution's transaction count stands at 947,341,650. With an average daily transaction rate of 4.5 million, it is expected to reach this landmark in about 14 days. Since its launch in August 2023, Shibarium has shown impressive growth; as reported earlier by U.Today, it crossed the 500,000,000 transaction milestone in November last year. Shibarium also boasts a total block count of 9,464,034, with hosted wallet addresses at 2,111,447. Experts suggest that as Shibarium's usage grows, it could positively impact the price of SHIB. At press time, SHIB is changing hands at $0.0000167, up 3.20% over the past 24 hours, per CoinMarketCap.
Bitcoin to $1,000,000? Samson Mow offers six catalysts for it to happen
Samson Mow, well-known Bitcoin enthusiast and CEO at JAN3, has recently taken to X platform to outline six potential pathways that could propel Bitcoin to a staggering $1 million, which he calls the "6 Paths to Omega." The first path on his list is "Supply shock from MSTR/ETF buying," meaning the aggressive buying by institutional investors and ETFs could significantly reduce the available Bitcoin. Second is "State level SBRs," or governments holding BTC as a reserve asset, with the U.S. federal SBR in particular being the third path. The fourth is "Rebasing of the US dollar to sats," which could redefine value measurement itself. The fifth path is "Nation-state FOMO"; countries might feel pressure to accumulate Bitcoin to avoid being left behind. Last, but not least, "Demonetization of gold to acquire BTC," meaning governments and institutions shifting from gold to Bitcoin as a safe haven asset; if gold starts losing its monetary role in favor of BTC, it could mean a massive liquidity shift.