Your Favorite Crypto Digest From TradeCrypto.com #154

The statistics:

The market today is in the sidebar, some of the alts are green, some are red. BTC is now trading above $19,300, ETH is trading around $1,300.

💪 Bitcoin dominance: 41.71%

📉 Total Cryptocurrency Market Cap: $ 0.888 tr

😲 Fear and greed index: 20 (Extreme Fear)

🚀 Gainers (Top-100)

• Klaytn (KLAY)+14.29%

• Chiliz (CHZ)+7.17%

• Axie Infinity (AXS)+6.70%

  😭 Losers (Top-100)

• Trust Wallet Token (TWT)-4.80%

• Aave (AAVE)-3.92%

• Maker (MKR)-3.75%

Slow progress. The tech giant published updates to its App Store Review Guidelines with new language surrounding NFTs. NFTs are allowed to exist within apps 📲 on the App Store—but they can’t unlock additional features or content.

According to Tesla’s latest Q3 earnings report filed with the United States Securities and Exchange Commission, the electric vehicle (EV) manufacturer disclosed that it has invested a total of $1.5 billion into Bitcoin since early 2021. Of this amount, the firm is currently sitting at $170 💰 million of unrealized loss from the change in the fair value of its investment. This is offset by a gain of $64 million from realized profits on Bitcoin at various points in the last two years, leading to a net loss of $106 million by the end of Q3. Tesla’s losses did not materially affect its core operations, the filing said. Lucky that not much was lost.

What a cool comeback. At an event in London, smartphone manufacturer Vertu revealed its latest device, ☎ Metavertu—a “Web3 phone” that can run its own blockchain node and turn photos and videos into NFTs with a single click.

The device itself is unapologetically aimed at the higher end of the market. With that in mind, the Metavertu can switch between Web2 mode—the standard Android operating system seen on most smartphones—to a Web3 mode. Users can create a wallet 🔐 in a few clicks, with private keys protected by the phone’s trusted execution environment (TEE), and access a suite of decentralized applications (dapps) through a friendly, Android-style interface.

Another one who left. Ripple Labs’ director of engineering Nik Bougalis is exiting the firm after nearly 10 years, becoming the latest of crypto’s long-time serving executives to depart from the space. In an tweet, Bougalis noted that: 💬 “my decade-long journey at Ripplehas been a fantastic (if exhausting and all-consuming) one. I got to work on a project that I love, towards a goal I believe in. But that journey will be coming to an end in a few weeks.” Interestingly, the Ripple developer noted that he will not be joining a blockchain project or company next.

Binance is “narrowing down” the identity of the attacker who stole $570 million worth of crypto from a cross-chain bridge on October 6, Binance CEO Changpeng Zhao told. And now the company, which runs the world's largest centralized crypto exchange, has had some help tracking 🔍 down the responsible party.

In an announcement, the Australian Securities and Investments Commission (ASIC) said it has commenced civil penalty proceedings against BPS Financial for making “false, misleading or deceptive representations” to its 79,000 👥 users about its crypto token Qoin. It alleges the company engaged in “unlicensed conduct” relating to Qoin, a digital currency launched in Oct. 2019 which allows participating merchants to accept as payment for goods and services. ASIC Deputy Chair Sarah Court said this case should serve as a warning to all crypto issuers that ASIC is monitoring the crypto market for misconduct. Ooops.

Good luck to him. The new leader of the world’s sixth-largest economy is the former chancellor of the exchequer and is said to be richer than King Charles. He is also a firm crypto 💱 supporter. 

Speaking in April about proposed regulatory reform related to stablecoins, Sunak 💬 said: “It’s my ambition to make the U.K. a global hub for crypto-asset technology, and the measures we’ve outlined will help to ensure firms can invest, innovate and scale up in this country. This is part of our plan to ensure the U.K. financial services industry is always at the forefront of technology and innovation.”

Conclusion: There has been plenty of news about the losses of cryptocurrency-related companies. Very suspicious, as it's still the end period of the year. Perhaps the big players are trying to push the exchange rate even lower than what we've been holding on to so tightly. 

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.