Your Favorite Crypto Digest From TradeCrypto.com #150

The statistics:

The market today is red. BTC is now trading above $19,200, ETH is trading around $1,300.

💪 Bitcoin dominance: 41.84%

📉 Total Cryptocurrency Market Cap: $ 0.884 tr

😲 Fear and greed index: 23 (Extreme Fear)

🚀 Gainers (Top-100)

• Aave (AAVE)+4.53%

• Maker (MKR)+3.50%

• Monero (XMR)+2.86%

😭 Losers (Top-100)

• EthereumPoW (ETHW)-11.72%

• Convex Finance (CVX)-10.96%

• TerraClassicUSD (USTC)-8.26%

They don't stop. The Bored Ape Yacht Club has attracted an array of celebrity and brand owners over the last year and a half. Some use the NFT artwork 🎨 as a status symbol, while others tap the IP to create and sell their own products. The latest such brand to claim ownership is a unique one indeed: a physical playing card brand established in the 1880s.

New lucky ones. Ripple has announced the second wave of recipients selected to join its $250 million 💰 Creator Fund focused on promoting the development of NFT-related projects on the XRP Ledger. Joining the fund’s second wave is metaverse platform 9LEVEL9, which will sell tickets to virtual events as NFTs, fan-focused Japanese NFT marketplace Anifie, NFT sports platform Capital Block, XRP NFT marketplace NFT Master, NFT IP company SYFR Projects, NFT membership project ThinkingCrypto, and Cross-Metaverse Avatars.

Another bear victim. German crypto bank Nuri has told its 500,000 users to withdraw funds from their accounts as the firm prepares to shut down ❌ and liquidate the business, marking it as another victim of the 2022 bear market.

Nuri first reported liquidity issues in August, after announcing that it had filed for insolvency amid the economic strains of Crypto Winter. It said at the time that business would continue as usual, as it worked on a restructuring plan and securing a buyout, however an acquisition has failed to materialize. In blog post 📲 , Nuri CEO Kristina Mayer noted that despite the company’s best efforts, it is unable to maintain its operations moving forward.

Now it's not just Singapore that's working on it. Two key U.S. regulators are reportedly investigating the bankrupt crypto-focused hedge fund Three Arrows Capital (3AC). According to anonymous sources, the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) are now looking 🔍 into whether the fund “violated rules by misleading investors about the strength of its balance sheet and not registering with the agencies.”

Not a bad idea. The International Criminal Police Organization is reportedly planning to strengthen its crackdown on 💱 cryptocurrency-related crimes by forming a dedicated division. Interpol, the world’s largest global police organization, has set up a special team in Singapore to help governments fight crimes involving virtual assets, the Indian news agency Business Standard reported.

Charges are starting to pile up. Three associates of fugitive OneCoin founder Ruja Ignatova, known colloquially as the “Cryptoqueen,” have faced a German court ⚖ over allegations of fraud, money laundering and banking crimes. Appearing in court on Oct. 18, a Munich-based lawyer connected to Ignatova is alleged to have transferred $19.7 million via the Cayman Islands on her behalf to purchase two London apartments. Additionally, a husband and wife are facing charges over allegedly handling $315.4 million worth of payments from OneCoin customers, as per a Bloomberg report.

Wow, finally. The long-awaited “Bluesky Social” app is now accepting users for private beta and says it will “launch soon”. Twitter co-founder and former CEO Jack Dorsey have lifted the curtain on the latest iteration of its social 🌐 protocol and a new Bluesky Social app — as part of its decentralized answer to Twitter.

The announcement comes nearly three years since the initiative was announced by Dorsey in December 2019, with the aim that social media users should have control over their data and be able to move it from platform to platform without permission. The new protocol has been renamed from “ADX” to “Authenticated Transfer Protocol” — or AT Protocol — and is described as a 💬 “protocol for large-scale distributed social applications” that will allow for account portability, algorithmic choice, interoperability and performance.

Conclusion: One cryptocurrency company has withdrawn from the market. While a major brand became a member of the NFT community. Basically, it's the same with the cryptocurrency exchange rate. A balance has been found.

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.