Crypto News Digest by U.Today

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Valeria Blokhina

Read U.Today’s crypto news digest to make sure you don’t miss any of the latest industry happenings!

Take a look at what’s happening in the crypto world by reading U.Today’s top three news stories.

Musk suspends account linked to meme coin, causing price to drop 30%

Twitter users holding Bob Token (BOB) and those using the @explainthisbob response bot are actively voicing their opposition to Elon Musk’s recent actions. The centibilliardaire suspended an account linked to BOB, questioning its legitimacy in a tweet that reads: “This certainly looks like a fraudulent crypto account. If so, it will be suspended.” Soon after, suspension followed, causing BOB’s value to plummet by 30%. Some members of the crypto community who disagree with such tough measures taken by Musk have created a “FREEBOB” hashtag, demanding a reconsideration of the suspension.

Mastercard files a new trademark for cryptographic tools

According to a recent tweet from trademark attorney Mike Kondoudis, payment processor giant Mastercard has filed a trademark application for a series of cryptocurrency and blockchain-based tools. As noted in the tweet, Mastercard claims plans to develop software for crypto and blockchain transactions and interconnect virtual asset service providers for simplified crypto transactions. The trademark application attached to Kondoudis’ tweet shows that the company also aims to, among other things, create downloadable application programming interface (API) software to verify interactions using blockchain networks and to process or exchange cryptos. This marks another milestone in Mastercard’s growing involvement in the crypto industry.

The Shiba Inu (SHIB) Soared 18% Last Week: Here’s What Could Happen This Time

Recent data on the chain shows that over the past week, the price of the Shiba Inu token has increased by 18%. Remarkably, it seems that there was no particular reason behind such impressive price growth. However, despite the lack of major news about Shibarium or other SHIB endeavors, there might be a clue that explains this event. Jump Trading, a renowned trading company and market maker, added 364.82 billion SHIB to its portfolio between June 12 and 15 alone. Whether this trend will persist this week remains to be seen. If Jump Trading does not continue to accumulate SHIB tokens during this time, this could indicate a potential correlation between the SHIB rate and the broader market.

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