🏓 Buterin backs Solana

Hi TC folks. The last summary for this year. A firm look at Solana, the closing of USDV, another Coinbase dip acquisition and some details on FTX - it's all there today.

Your Favorite Crypto Digest From TradeCrypto.com #202

Daily statistics update:

Today's market is flat. BTC is trading at $16,501; ETH is around $1,190.

💪 Bitcoin dominance: 40.01%

📉 Total Crypto Market Cap: $791.16B

😲 Fear and greed index: 28 (Fear)

🚀 Gainers (Top-100)

• BitDAO (BIT) +11.63%

• TonCoin (TON) +2.94%

• EthereumPoW (ETHW) +2.23%

  😭 Losers (Top-100)

• Chain (XCN) -6.81%

• Neutrino USD (USDN) -5.52%

• Holo (HOT) -5.18%

Vitalik Buterin backs Solana

Although Vitalik Buterin took to Twitter to support 💪 Solana's community and developers, adding that the bad actors are now wiped out and Solana has a bright future ahead of it, SOL's performance is really bad. After Vitalik's words, the share price recovered slightly, but then fell further and is now 96% below its all-time high. If you're wondering who these bad actors might be, SOL also named Sam Coin 😡. This morning, when SOL was trading at $8.16, it actually fell out of the top 20 list, giving way to Avalanche's AVAX. Now AVAX is surpassing SOL by overall coin market capitalization.

Cathie Wood buys Coinbase shares

Ark's Fintech head has a soft spot  😳 for Coinbase shares. That they're so low is a good thing for Ark. It's adding another 158,000 shares of COIN to its holdings. This is the fourth addition this year. Recently, Cathie bought $3.2 million worth of Coinbase shares. On the NY stock market yesterday, COIN was trading at $34.78. Overall, shares are down 📉 87% this year.

Vader to shut down USDV stablecoin

Vader's USDV is an algorithmic stablecoin that was shaken 😱 back when Terra's LUNA collapsed. Immediately after, Vader put USDV on a minting hiatus. Starting in May, the team tried to make the app more secure and the stablecoin more stable. However, that didn't work. Now the burning is paused, and USDV treasures will be distributed among holders until June, when Vader plans to shut down operations for good. USDV has been delisted from all coin pricing websites, and it's still unclear whether holders will receive 1/1 of the peg 😢 or a lesser amount.

Liquid to return customers funds 

A Japanese fintech company owned by FTX has prepared a plan to return the funds of its and also FTX.Japan's customers. Recently, FTX asked the court for permission to sell its solvent businesses, and Liquid with FTX.Japan is among them. The news also comes a day after FTX customers in the US filed a class action lawsuit to get their funds 🚨 prioritized in the ongoing bankruptcy proceedings. At least someone like Liquid 🥺 is taking care of its customers without them talking to court.

Bahamas holds $3.5B of FTX users' assets 

The Security Commission of Bahamas has held $3.5 billion in assets from FTX clients since November 12. Immediately after the collapse, $372 million was stolen 😡 from the exchange. A few days ago, Alameda's wallets became active, using crypto mixers to move $1.7 million. So Bahamas is afraid that something will happen to the money if regulators lose control. The only thing announced is that the funds will be returned to their owners when the Bahamas Supreme Court orders the Bahamian Commission to do so. When that will be, no one has said. At least it seems a safer😓 option than storing the money in the exchange right now.

Conclusion: This year has seen corporate collapses around the world, NFT wash trades, the collapse of trust and personal wealth, but we're still here and continuing to build. To summarize the last digest of this year: the market is neutral today. Some are taking the user-first approach, others are using their trust to enrich themselves. The future of Solana isn't yet clear, we'll see next year. Wish you all the best.

See you tomorrow, folks! Thanks for being with us.Brought to you by Maksym, Yana, and Aleksandar :)

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