Your Favorite Crypto Digest From TradeCrypto.com #188

Daily statistics update:

Today's market is red. BTC is trading at $16,947; ETH is above $1,245.

💪 Bitcoin dominance: 38.74%

📉 Total Crypto Market Cap: $840.97B

😲 Fear and greed index: 27 (Fear)

🚀 Gainers (Top-100)

• TonCoin (TON) +8.60%

• Bitcoin SV (BSV) +2.78%

• Trust Wallet Token (TWT) +2.40%

😭 Losers (Top-100)

• Flow (FLOW) -10.00%

• Chiliz (CHZ) -9.90%

• DogeCoin (DOGE) -9.32%

First Singapore, then Dubai, and now South Korean authorities say Do Kwon is in Serbia🧳. He's been on the run ever since the Terra collapse. While repeatedly saying it was not a scam, he's still unwilling to face the law. And he gave the authorities a difficult task, as Serbia and South Korea don't have an extradition treaty. How did he even cross the border if his passport 🎫 was invalid? He might even go elsewhere if the passport is not the problem. Well, let's wish some luck to the prosecutors. Where is Interpol, by the way?

Congressman asks SEC chair Gary Gensler what approach to regulating crypto they have if they missed FTX from its orbit 🛰. They could prevent a $32bn collapse if they did their job. But could they? How could Gensler miss Terra, Celsius, and Voyager? So the SEC must testify before Congress. It is not the first time Congressman Tom Emmer is eyeing Gary Gensler. For now, Tom's intention looks the most serious. If indeed there is a hearing, it would be an interesting one🕵️‍♀️.

Maple was born out of creating a platform where lenders and borrowers can come together, and no collateral deposits are needed. Based on trust 🤝. We see now where this went. Aurus Global couldn't pay back $18m, and Orthogonal defaulted on $36m. All as a result of FTX collapse. Maple didn't pause withdrawals, and the most significant clients regained their funds. Yet, there is a vague future for Maple 🧖. Because of its design as an operator, not a lender to various pools, Maple is not suffering material losses, but of course, it lost big in reputation.

Crypto lending brokerage FalconX announced that 18% of its funds locked in FTX. No exposure to Genesis, BlockFi, or Alameda. They say that 18% are within its exposure limits, and FalconX is doing just fine. Financial health remains strong 💪, with 80% of the balance sheet regulated by U.S. banks. With an assurance to survive and grow even stronger if they will never see those 18%. I have only one question. Why did they report it almost a month later 🤔?

With funding of private round 2 of GoPlus Security. GoPlus is covering all major blockchains to prevent risks, and with new funding aims to build a security service marketplace and attract new talents 🙌. The sum was not disclosed, yet Binance is all in the security game. As GoPlus, with plans to onboard 20 different types of services. Funny enough, amidst crypto winter 🥶, Binance is managing to infuse more money compared to 2021. Over 67 projects grew with around $325m of funding this year. GoPlus is one of them.

Conclusion: The market during the weekend was stable, yet today it is falling. We are good to go anyway, covering the FTX collapse for almost a month. As a reminder, tomorrow will be a livestreamed House Committee x SBF hearing. Don't miss it. As well as our digest and coverage.

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.