Crypto News Digest by U.Today

These top four news stories by U.Today will help you stay updated on crypto events over the past weekend.

Elon Musk and Dogecoin (DOGE) co-founder comment on feds confiscating $700 million from FTX’s SBF

According to Reuters, which cited a court filing from Jan. 20, federal prosecutors seized almost $700 million from Sam Bankman-Fried (also known as SBF), the founder of failed cryptocurrency exchange FTX. The news agitated the entire crypto community, including most prominent influencers in the sphere. Thus, Dogecoin co-founder Billy Markus commented on Reuters’ article with a sarcastic tweet, in which he quoted SBF claiming that he only had $100,000 left from his billions. Tesla CEO and centibillionaire Elon Musk also showed up to comment on the news, leaving two ROFL emojis under Markus’ post.

Shiba Inu (SHIB) community wants Shytoshi Kusama to remain at helm

The results of a recent poll show that most members of the SHIB community still support the project’s lead dev Shytoshi Kusama despite his recent feud with SHIB Defense Team co-lead Trophias. The latter accused Shytoshi of taking over the SHIB ecosystem with “a hostile takeover” and destroying Shiba Inu’s decentralization by firing the so-called “breeds,” a team of people who were supposed to support the developers. The list of those who were cut out of the SHIB community includes SHIBQueenie, a Shiba Inu Discord moderator. Even after dissolving “breeds,” Kusama received lots from the community and was even accused of having “a megalomaniac personality.”

XRP, Bitcoin (BTC), Ethereum (ETH) five-year prognostication by John Deaton

John Deaton, founder of CryptoLaw firm, still believes that three major cryptocurrencies, BTC, ETH and XRP, will be standing in the next five years. In a recent tweet, he got back to the same prediction he made last year in August, in which he quoted a 2020 recommendation of three digital assets of the future by the head of assets at Sygnum Bank. The first recommended crypto was Bitcoin (as a store of value), the second was Ethereum (for infrastructure) and the third was XRP (for payments). Nothing has changed for XRP since 2020 except for the Ripple lawsuit, says Deaton, so he continues to stick to his prediction.

“I wish Ripple had given away more XRP,” executive says, here’s why

Ripple CTO David Schwartz has recently shared his take on the XRP supply. He said that he wished Ripple had distributed more XRP when the price was low. Schwartz believes that the influx of large numbers of XRP into the market now at the price of $0.4 makes things much more complicated. Another problem is U.S. recipients, who would be taxed for their tokens on ordinary income, forcing them to sell around 50% when they receive the tokens. According to Schwartz, this is one of the reasons why the release of all tokens on the market should be done while the price is at its lowest.