According to U.Today, the Shiba Inu community was recently alerted to be vigilant due to a rise in fraudulent activity in the crypto market. Lucie, the marketing lead of the project, used social media to emphasize a crucial point about the Shibarium ecosystem token TREAT. She cautioned SHIB enthusiasts that TREAT has not yet been launched and warned them about numerous impostors targeting the SHIB community. She encouraged those interested in the Shiba Inu project to follow only its official accounts to get accurate information and avoid confusion. TREAT is a reward token with multiple functions, one of which is to provide liquidity for the SHI stablecoin.
In other news, Ripple's CTO David Schwartz recently explained how tokenization can enhance efficiency in a new clip posted on the company's official handle. Schwartz stated that tokenization could solve some of the issues related to asset transfer and ownership by using digital distributed ledgers to track asset ownership. This would simplify processes like borrowing against an asset or using it as collateral, as lenders could easily verify asset ownership and ensure that borrowers aren't borrowing from multiple different ledgers.
Lastly, the crypto community was saddened by the news of the passing of Kabosu, the dog that became the face of the Dogecoin meme cryptocurrency. Ethereum co-founder Vitalik Buterin responded to the news with a heartfelt message: 'Rest in Peace Kabochan.' The Dogecoin Foundation also paid tribute, posting, 'Rest in peace, dear Kabosu, beloved Doge. You were very much wow.' Kabosu's iconic photo went viral in 2010, and three years later, the Dogecoin asset was created with Kabosu as its mascot.