Your Favorite Crypto Digest From TradeCrypto.com #136

The statistics:

Market is green. BTC is now trading above $19,500, ETH is trading around $1,350

💪 Bitcoin dominance: 41.22%

📉 Total Cryptocurrency Market Cap: $ 0.906 tr

😲 Fear and greed index: 22 (Extreme Fear)

🚀 Gainers (Top-100)

• Helium (HNT)+9.32%

• Synthetix (SNX)+8.00%

• PancakeSwap (CAKE)+6.06%

😭 Losers (Top-100)

• Quant (QNT)-7.02%

• STEPN (GMT)-4.49%

• Chainlink (LINK)-4.44%

Can he save one more? Sam Bankman-Fried, helms crypto 💱 exchange FTX and trading firm Alameda Research, is considering buying the assets of the bankrupt lending firm Celsius, according to “a person familiar with his deal-making.”

It is not immediately clear whether Bankman-Fried’s companies are considering bidding for some or all of Celsius’s assets, per the report. On Monday, FTX.US, the American subsidiary of FTX, won 🏆 the bid to buy out Voyager Digital, another troubled crypto investment firm that filed for Chapter 11 bankruptcy in July this year.

The expansion continues. Singapore-based digital asset platform Crypto.com scored a major regulatory approval in France. The digital asset platform was approved 🤝 to register as a Digital Asset Service Provider (DASP) by the stock market regulator Autorité des Marchés Financiers (AMF). The regulatory approval will help the digital asset platform offer a suite of products and services in compliance with local regulations to customers in France.

Wow, promising. The investment round was co-led by FTX Ventures and Jump Crypto with additional participation from Multicoin Capital, Anagram, K5 Global and other investors, Coral announced 🔈 Wednesday. Coral said it would use the funds to build internal capacity and launch its flagship product, Backpack.

Backpack is said to be an interactive wallet that delivers “crypto-native experiences” through so-called executable nonfungible tokens, or xNFTs. Coral describes xNFTs as analogous to mini-programs offered by the popular Chinese messaging app 📲 WeChat. Backpack became available in private beta, with Discord members receiving priority access.

Thailand’s largest crypto exchange Bitkub has come under regulatory scrutiny from the country’s Securities and Exchange Commission (SEC) over falsifying and creating artificial trading volume 📈 on its platform. Alleging the crypto platform was involved in wash trading, a process where investors buy and sell the same assets at the same time to manipulate the market by inflating volumes. The latest enforcement action against the leading Thai crypto exchange would be the second penalty ⛔️ for the crypto exchange within three months. Unpleasant.

How progressive. After a series of successful high-priced nonfungible token (NFT) sales, Christie’s has launched its own dedicated NFT “on-chain auction ⚖️ platform,” allowing auctions to be carried out fully on-chain on the Ethereum network.

The 256-year-old British auction giant, which is also the second-largest auction house in the world by fine-art auction revenue, said its Christie’s 3.0 allows for NFT auctions to be conducted entirely on the ETH network “from start to finish:” 💬 “All transactions, including post-sale, will be automatically recorded on the blockchain.”

Another one quit. On Wednesday, Matthew Ballensweig, managing director of cryptocurrency broker Genesis, announced 📢 via Linkedin that he was formally leaving his post after over five years of tenure. As told by Ballensweig, he has been transitioning his core responsibilities to a handful of trusted colleagues who will be taking the front-line role. "My line is always open and I can’t wait to continue building and learning with all of you," 💭 says Ballensweig.

Internet hacktivist group Anonymous released a video 📺 addressing blockchain technology company Yuga Labs and its nonfungible token (NFT)-driven social club, Bored Ape Yacht Club (BAYC). The Internet hacktivist group called on high-profile celebrities and big brands to speak up and take a stand.

The group’s statement included a laundry list of allegations regarding Yuga Lab’s alleged use of esoteric symbolism in BAYC’s art — which Anonymous believes shows the company's support for numerous controversial subjects, such as Nazism, racism, simianization and pedophilia. The group cautioned against ❌ relegating its accusations to baseless “conspiracy theory,” adding that people who do so are “simply ignorant,” or “not versed, or worse, at a financial conflict of interest. Is there going to be a response?

Conclusion: The market is fairly calm. There are minor staff changes in cryptocurrency companies, particularly, in the composition of top managers. Whales are slowly accumulating their positions.

What is Crypto Ping Pong digest?

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.