Your Favorite Crypto Digest From TradeCrypto.com #200

Daily statistics update:

Today's market is red. BTC is trading at $16,652; ETH is around $1,1195.

💪 Bitcoin dominance: 39.96%

📉 Total Crypto Market Cap: $799.43B

😲 Fear and greed index: 28 (Fear)

🚀 Gainers (Top-100)

• OKB (OKB) +3.16%

• Fei USD (FEI) +2.68%

• Internet Computer (ICP) +0.89%

😭 Losers (Top-100)

• Lido DAO (LDO) -10.50%

• Solana (SOL) -10.39%

• Chain (XCN) -10.02%

After draining the DeFi platform of $110 million, Avraham Eisenberg confessed to his crime on Twitter like a hero 😵‍💫. But that wasn't all: he also screwed Aave, leaving the protocol with $1.6 million in debt. He even inspired copycat criminals who hacked Lodestar Finance. Well, he won't be doing bad stuff anymore🥵, as the federal agents weren't thrilled with his highly profitable strategies and caught him in Puerto Rico. Now he's in jail and could be the first U.S. citizen charged with manipulating the DeFi markets.

Aside from BlockFi suing FTX over the Robinhood shares, claiming they made a deal and FTX owed it to BlockFi, it turns out FTX borrowed from Alameda to buy Robinhood shares in the first place 🤭. Alameda took out a loan and pledged the same shares as collateral. And as you recall, Alameda was mostly collateralized with worthless FTT tokens. So the money was created out of thin air 🤯. That means Robinhood became FTX through fraud, not for real. So BlockFi's claim on Robinhood is now even greater.

The mining company was just saved 😇 from bankruptcy by Galaxy Digital. Galaxy bought Helios, one of Argo Blockchain's mining facilities in Texas, for $65 million and is giving the company a $35 million loan to help it restructure. Although Helios was Argo's largest asset, at least it's not exiting the business, as another miner, Core Scientific, is likely to do soon. However, Galaxy has promised to maintain the mining site for Argo at Helios for 2 years. We hope that the mining industry will survive this cycle 📈.

Well, a hacker who exploited one of Defrost Finance's pools, V1, returned all the money 🤔. Therefore, Defrost has started returning the funds to the owners. The team said that it'll take some time because users had different shares of assets and debts. Nothing was revealed about the repayment of funds from the V2 pool attack 😓, which happened at the same time on Defrost Finance.

For the second time! While Binance is coming to Japan for the second time! These two exchanges have different strategies 🤯. Kraken plans to deregister from Japan and leave on January 31 due to weak internal and external market conditions. So far, Kraken has been providing its services through Payward Asia. Pretty much the same thing already happened to Kraken when Payward Asia operated in Japan between 2014 and 2018 and then left the country. It returned in 2020. Looking at Kraken, it seems to be a no-brainer to enter, re-enter, and exit the market at any time 🥴.

Conclusion: Unfortunately, the market is down today. And we're sort of summing up. Again, I hate to gloat over Avraham Eisenberg, but I hope they'll add the attack on Aave to the charges against him. It's not good when a group has to clean up the dirty deeds of a dishonest actor. Not to forget: let's congratulate Argo.

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.