🏓 Another alarm for Huobi

Hello, crypto-enthusiasts! Today, we will talk about the new details pertaining to regulators and alert you in regard to your savings

Your Favorite Crypto Digest From TradeCrypto.com #110

The statistics:

The market today is in the sidebar, some of the alts are green, some are red. BTC is now trading above $21,400, ETH is trading around $1,600.

💪 Bitcoin dominance: 40.75%

📉 Total Cryptocurrency Market Cap: $ 1 tr

😲 Fear and greed index: 25 (Fear)

🚀 Gainers (Top-100)

  • Bitcoin Cash (BCH)+12.57%

  • Nexo (NEXO)+12.21%

  • Chiliz (CHZ)+10.69%

😭 Losers (Top-100)

  • EOS (EOS)-1.16%

  • Kusama (KSM)-0.19%

  • Pax Dollar (USDP)-0.11%

Celsius calls out Prime Trust in court, alleging the firm didn't turn over $17M in crypto

Another court case? Crypto lending platform Celsius Network has filed a lawsuit ⚖️ claiming that custodian Prime Trust failed to turn over roughly $17 million worth of cryptocurrency.

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“Upon the commencement of these bankruptcy proceedings, Prime Trust was obligated under the Bankruptcy Code to deliver all property belonging to Celsius that is in Prime Trust’s possession to Celsius, including these remaining crypto assets, and should be ordered to turn them over now pursuant to section 542 of the Bankruptcy Code,” 💬says the filing.

Rep. Emmer demands an explanation of OFAC’s Tornado Cash sanction from Sec. Yellen

United States Congressman Tom Emmer sent a four-page letter 📩 to Treasury Secretary Janet Yellen on Tuesday regarding the Treasury Department’s sanctioning of cryptocurrency mixer Tornado Cash on Aug. 8. “Given that the Tornado Cash back-end will operate unchanged as long as the Ethereum network continues to operate, who or what entity did OFAC believe was reasonably responsible for imposing controls on the Tornado Cash blockchain contracts?” 💬 Curious if there will be an answer?

Argentine Presidential Candidate Sued Over Alleged Crypto Ponzi Scheme

Argentina’s eccentric Bitcoiner presidential candidate is being sued for allegedly promoting a crypto ponzi scheme. Javier Milei, a top contender to be the next president of Argentina, last year uploaded an Instagram 📲 post to his 1.3 million followers promoting CoinX, a crypto investment platform that promised huge returns to users.

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But CoinX closed up shop after the regulatory National Securities Commission (CNV) warned that the platform had no legal right to operate in the country and ordered it to stop operations. It also hadn’t paid 💸 back investors the returns expected, local media reported. A suspicious story, in the middle of an election campaign...

Iconic brands including Nike, Gucci have made $260M off NFT sales

How did they do it? Leading brands including Nike, Gucci, Dolce & Gabbana, Adidas and Tiffany have amassed a combined $260 million 💰 worth of sales from NFTs, according to data from Dune Analytics that was first reported by NFTGators. Nike’s NFT drops have amassed $185.3 million in revenue, with volumes in secondary markets approaching $1.3 billion.

Coinbase Hit With $5M Lawsuit Over Exchange Crashes, Alleged Securities Violations

Are they in trouble again? A Coinbase customer is suing the San Francisco-based exchange 💱 for $5 million for failing to properly secure customers’ accounts and “flouting” federal securities laws, among other allegations.

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The lawsuit, filed last week and which represents over 100 people, claims that the biggest cryptocurrency exchange in the U.S. locked 🔐 users out of their accounts for extended periods of time—harming them financially.

Malaysian regulators add Huobi to investor alert list

Ooopsy… The Securities Commission (SC) of Malaysia issued a statement on Monday regarding Huobi's operations in the country. According to the statement, the crypto exchange 💱 is now on the SC’s Investor Alert List. Malaysian financial regulators say Huobi has been operating a digital asset exchange in the country without official registration with the SC.

Crypto Lender Celsius Countersues KeyFi for 'Gross Mismanagement'

Have they decided to sue everyone? Troubled crypto lending platform Celsius filed a countersuit in United States Bankruptcy Court ⚖️ on Tuesday against Jason Stone and his company KeyFi. In the filing, Celsius alleges Stone falsely represented himself as a pioneer and expert in coin staking and decentralized finance (DeFi) investments.

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"Unfortunately, Defendants Stone and KeyFi, Stone's majority-owned corporate vehicle, proved themselves incapable of deploying coins profitably and appear to have lost thousands of Celsius coins through their gross mismanagement,” 🔈Celsius says. “But the Defendants were not just incompetent, they also were thieves."

Conclusion: The market is flat. Everyone is waiting for the Ethereum merge and coming up with different theories about how it will affect the market. Everything is quite ambiguous. One thing we can say for sure though, miners are not happy about it.

See you tomorrow, folks! Thanks for being with us :) Brought to you by Maksym, Srđan, and Aleksandar :)

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TC lads here are working quite hard and from time to time we gotta chill. Recently, we got ourselves a ping pong table to complete our lazy-bag-stuffed chill zone. As you all know our main hobby is Crypto, so even while we play we don’t really shut up about it. Ever.

So memes, leaks, gossips naturally come about – we collect them and share them with you in this interstellar space on our site we like to call Crypto Ping Pong digest.