According to U.Today, the Shiba Inu meme cryptocurrency has received support from the British Red Cross. The global humanitarian charity now accepts SHIB as a donation currency. This development is due to the British Red Cross's collaboration with Giving Block, a platform that facilitates cryptocurrency donations for nonprofits. The platform supports the dog-themed token along with other well-known digital assets. Donors can contribute Shiba Inu to the Red Cross with charges ranging from 1% to 3.9% through the Giving Block, depending on the donation amount. The donated sum is transferred to the British Red Cross weekly. This recognition of Shiba Inu as a valid donation form highlights its increasing utility and acceptance.
In other news, SEC Chair Gary Gensler recently hinted that the regulatory body might approve S-1 forms for spot Ethereum ETFs 'sometime this summer.' Following this, many experts have speculated about the timing of this significant development. Bloomberg's senior ETF analyst Eric Balchunas suggested that the S-1 registration form approval could likely occur on July 2. Balchunas noted that SEC staff recently requested issuers to respond to minor comments on the forms within a week. Therefore, Balchunas believes there is a high probability that the regulator will decide before the Independence Day weekend, making July 2 the most probable approval date.
Lastly, renowned crypto analyst Ali Martinez recently reported that large Bitcoin whales and miners have unloaded a staggering amount of BTC over the past 10 days. The first group of market players sold more than 50,000 BTC, valued at approximately $3.30 billion. Meanwhile, BTC miners sold over 1,200 BTC, worth nearly $80 million. Combined, they disposed of more than $4 billion worth of Bitcoin. Miners frequently sell BTC to cover their operating costs and cash out profits from their mining activities, often when Bitcoin reaches a new local high.