Major Shiba Inu Warning, Ripple’s Latest Achievement, and More: Bits Recap June 6

TL;DR

• Shiba Inu users received an alert about a phishing scam posing as the Coinbase Compliance Team.
• Ripple’s stablecoin continues to gain traction, recently obtaining major approval in Dubai.
• Despite ADA’s recent price dip, analysts remain bullish, forecasting significant gains this cycle based on Cardano’s strong fundamentals and growing adoption.

SHIB Users, Beware

Just a few days ago, the X account Shibarium Trustwatch warned the Shiba Inu community to stay vigilant for yet another dangerous scam. The entity said that a fraudulent email has been circulating lately, claiming to be from the Coinbase Compliance Team.

The message urges people to verify their account details to avoid restrictions on sending, selling, and transferring crypto. Shibarium Trustwatch insisted that this is a scam “designated to steal your personal information.”

The account gave vital tips to users to keep their personal data untouched, such as not clicking on dubious links, not providing account details, and deleting the aforementioned email immediately.

“If you receive a suspicious email, verify it directly via the official Coinbase website or app. Stay informed and share this alert with fellow friends and family,” the warning reads.

Ripple Expands Its Global Reach

The company behind the XRP token made the headlines on June 3, but this time thanks to its stablecoin, RLUSD. As CryptoPotato reported, the product was recognized by the Dubai Financial Services Authority (DFSA) as a crypto token within the Dubai International Financial Center (DIFC). 

“This approval reinforces RLUSD’s position as a trusted, enterprise-grade stablecoin, built with regulatory compliance, utility, and transparency at its core,” the official disclosure reads.

The development comes less than a year after Ripple collaborated with the special economic zone DIFC. Shortly after, the company received in-principle approval from the designated watchdog in Dubai to expand its services within the area.

How’s ADA Doing?

Cardano’s ADA has not been in its best shape lately, registering an 8% price drop for the past week and currently trading at around $0.64.

Nonetheless, the asset remains the subject of numerous optimistic price predictions. Earlier today (June 6), the X user Gordon predicted that ADA will “moon hard” this cycle. 

Other popular analysts who touched upon the topic recently include Lucky and Henry. The former labeled the token a “top 10 gem, primed for another move.” Prior to that, they forecasted a price jump above $2, citing Cardano’s “strong fundamentals, rising adoption,“ and growing ecosystem. 

Henry was also bullish, describing ADA as a cryptocurrency that is “built to last“ and predicting an ascent to $3 sometime this year.