Your Favorite Crypto Digest From TradeCrypto.com #138

Daily statistics update:

Today's market is red. BTC is now trading above $19,200, ETH is trading around $1,300.

💪 Bitcoin dominance: 41.41%

📉 Total Cryptocurrency Market Cap: $ 0.891 tr

😲 Fear and greed index: 24 (Extreme Fear)

🚀 Gainers (Top-100)

• Reserve Rights (RSR)+6.48%

• Maker (MKR)+3.81%

• PancakeSwap (CAKE)+2.58%

  😭 Losers (Top-100)

• Chiliz (CHZ)-10.33%

• Terra Classic (LUNC)-10.20%

• Huobi Token (HT)-7.98%

Oops. It seems the U.S. Securities and Exchange 💱 Commission hasn’t forgotten about the 2017 ICO craze.

Namely, the SEC filed charges against four men behind Bermudan company Arbitrade Ltd., Canadian firm Cryptobontix Inc., and U.A.E.-based Sion Trading. They have allegedly been running a pump-and-dump cryptocurrency token scheme worth $36.8 💰 million from 2017 until 2019. The men behind the alleged scam claimed they had $10 billion worth of real gold bullion in a reserve that would back their Ethereum-based crypto token ironically named Dignity (DIG).

Apologies won't save the day. Transit Swap, a multichain decentralized exchange aggregator, lost roughly $21 million after a hacker exploited an internal bug on a swap contract. Following the revelation, Transit Swap issued an apology to users 👥 with efforts to track down and recover the stolen funds currently underway. “We are deeply sorry,” stated Transit Swap while revealing that a bug in the code allowed a hacker to make away with an estimated $21 million.

Another trial ahead of us. The United States Commodity Futures Trading Commission, or CFTC, filed a complaint against Digitex LLC and its founder and CEO Adam Todd for failing to register the cryptocurrency futures exchange and manipulating 📈 the price of its DGTX token.

According to a court filing in the Southern District of Florida, Todd allegedly pumped up the price of DGTX tokens in an effort to inflate Digitex’s holdings. The U.S. regulator claimed the Digitex CEO used different corporate entities as part of a scheme to launch and operate an illegal ❌ digital asset derivatives trading platform, in violation of the Commodity Exchange Act.

A nice move. Sen. Hagerty outlined an overview of the problems amid regulatory hurdles: “The current lack of regulatory clarity for digital assets presents entrepreneurs and businesses with a choice: navigate the significant regulatory 🔍 ambiguity in the U.S., or move overseas to markets with clear digital asset regulations.” The aforementioned regulatory uncertainty, according to Sen. Hagerty, discourages investments in the crypto spaces and hampers job creation opportunities in the United States.

Anyone interested? MicroStrategy, the business intelligence and tech company that holds the world’s largest Bitcoin (BTC) reserve 💰 , is hiring a Bitcoin Lightning software engineer to create a Lightning Network-based software-as-a-service platform.

The new engineer will be responsible for building a Lightning Network-based platform to address enterprise cybersecurity challenges and enable new e-commerce use cases, according to a job posting linked to the MicroStrategy 📲 website. Besides “an adversarial mindset,” the applicant should have certificates, knowledge of tools and programming languages, and experience with decentralized finance technologies.

The expansion continues. Global cryptocurrency exchange Binance has registered with New Zealand’s Ministry of Business, Innovation and Employment and opened local offices in the country. In a tweet, Binance said it was registered as a financial service provider in New Zealand, allowing 🤝 residents to access services including spot trading, nonfungible tokens and staking. “New Zealand is an exciting market with a strong history of fintech innovation,” said Binance CEO Changpeng Zhao.

Crypto influencer Ian Balina has launched a GoFundMe page to pay 💸 for his legal defense against the U.S. Securities and Exchange Commission (SEC), which earlier this month filed a lawsuit against him for allegedly selling unregistered securities.

Balina claims to be fighting “on behalf of the whole crypto community” and challenging what he feels to be “SEC over-reach.” He’s raised $1,192 three days after launching, with an objective of $25,000. The Ugandan entrepreneur left his sales role at IBM to promote 🔈 crypto full-time in 2017, with content such as “How to Make Millions with Initial Coin Offerings (ICOsICOs)” racking up hundreds of thousands of views. Not a bad support.

Conclusion: The market is calm, with crypto being firmly entrenched at these levels. The impression is that it does not depend on external economic news.  

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.