Crypto News Digest by U.Today

Top Three Crypto News Stories to Watch

Here’s a roundup of the most significant developments in the cryptocurrency world.

Travelex Forms Major Partnership with Central Bank in Asia

In a notable move, Ripple partner Travelex, a leading foreign exchange firm, has forged a partnership with the National Bank of Cambodia. This collaboration allows travelers passing through Singapore’s Changi Airport to buy and sell the Khmer riel, Cambodia’s national currency, against a variety of currencies, including the U.S. dollar, Singapore dollar, Australian dollar, and the euro. This marks the first instance of the Khmer riel being traded alongside other currencies in Singapore, highlighting its growing international recognition and utility.

Fidelity Proposes Updated ETF Application

Fidelity has recently submitted an amended filing for a spot Bitcoin ETF, as revealed by Eric Balchunas, a senior ETF analyst at Bloomberg. This filing indicates that the company is seeking approval from the SEC to launch an ETF that tracks Bitcoin’s performance. Such an approval would be a significant milestone for the market, potentially attracting mainstream and institutional investors who prefer a regulated avenue for investing in cryptocurrency without needing to hold the asset directly. The potential influx of capital into the market could boost demand and elevate prices, as evidenced by recent price surges triggered by rumors of Bitcoin ETF approvals.

Elon Musk’s Latest Tweet Sparks Speculation Among XRP and SHIB Communities

Elon Musk’s recent cryptic tweet has garnered significant attention within the crypto community. The tech billionaire’s message, read by millions, simply stated, "In X S." This has led followers to speculate about its meaning, with particular enthusiasm from XRP and SHIB supporters. XRP fans have drawn parallels between the "X" in Musk’s tweet and the XRP logo, while SHIB enthusiasts associate the "S" with their cryptocurrency. A member of the SHIB team, Vet Kusama, even chimed in with "In X Shi," referencing a stablecoin currently under development by the project team. Despite the myriad interpretations, Musk has yet to clarify the meaning of his message.