Coinedition

SHIB burn rate surged 108% this week, removing nearly 100M SHIB, signaling community efforts to reduce supply despite market uncertainty. SHIB’s whale-tier trading volumes have dropped, potentially limiting the token’s short-term rally due to reduced large transactions. Despite price gains and rising derivatives trading volume, SHIB faces ongoing volatility, with long-term growth uncertain for 2024.

Microsoft’s BTC investment proposal faces uncertainty amid divided shareholder sentiments. Vanguard’s opposition may heavily influence Microsoft’s Bitcoin investment vote outcome. Uncertainty looms as 60% of shareholders remain unknown ahead of the December vote.

Brian Armstrong wants the next SEC Chair to apologize to the crypto space. Armstrong said that an apology cannot undo the harm done. However, an apology will allow investors to place faith in the SEC once again.

Ripple Labs executives hired key attorneys to dismiss the claims against them in the lawsuit. Larsen replaced his legal representation with Nowell Bamberger, Rahul Mukhi, and Samuel Levander from Cleary Gottlieb. The SEC’s extended deadline extension for its principal brief regarding the appeals is set for January 12, 2025.