🏓 Bye-Bye, Tether

Gm fam. Tether gets delisted from Crypto.com in Canada, DCG writes a letter to shareholders, FTX's new crunchy details are revealed, and Binance.US finally wins Voyager. Let us get started.

Your Favorite Crypto Digest From TradeCrypto.com #208

Daily statistics update:

Today's market is red. BTC is trading at $17,451; ETH is around $1,334.

💪 Bitcoin dominance: 39.02%

📉 Total Crypto Market Cap: $856.96B

😲 Fear and greed index: 26 (Fear)

🚀 Gainers (Top-100)

• Mina (MINA) +7.13%

• Woo Network (WOO) +6.76%

• XRP (XRP) +3.49%

  😭 Losers (Top-100)

• Gala (GALA) -9.07%

• Lido DAO (LDO) -6.25%

• BitDAO (BIT) -6.01%

 Bye-Bye, Tether

​...Canadians using Crypto.com should say to stablecoin 👋. The wave was triggered because the Canadian government is not into Tether at all. So the exchange could not find any other way but to comply. USDC is fine, by the way. Any remaining balances that are not withdrawn or exchanged before January 31 will be automatically converted to USDC. Whether other Canadian exchanges will follow remains unclear, but in all likelihood, USDT will soon be gone for good🚪. 

The Silbert Showdown 

DCG CEO Barry Silbert delighted us with a new letter to shareholders. The letter is in response to Gemini's proposal to fire him at DCG🤘. However, the letter itself isn't of great interest; rather, it addresses how recent events have impacted his personal and professional life and emphasizes that these bad actors (aka 3AC and FTX) are shaking up OUR industry. There is no mention of bad decisions or ill intentions made by Silbert himself. Once again, a confirmation of loans related to Genesis. All in all, as one community member said, a lot of words, but nothing was said 😵‍💫.

FTX Fallout Frenzy

The names of FTX's major creditors were highlighted at the recent bankruptcy hearing. The list is long indeed 📜. The famous pair of Tom Brady and Gisele Bundchen stand out with 1,144,861 and 686,761 common stock, respectively. How these numbers relate to the U.S. dollar is unclear. KPC Venture Capital held 634,144 common and preferred shares, and Coinbase had 5,284,899 shares. Kevin O'Leary held 184,061. They could have made a lot of cash 💰 if FTX hadn't collapsed and gone public. But that's another story.

Binance.US Bounty

Every dog has its day, so it's time for Binance.US to celebrate too. Just yesterday we reported on how Voyager defended 💪 the deal, and now it finally happened - Binance.US has received judicial approval for its acquisition of Voyager, and all those who had their turn before it (winks at FTX) have nothing more to say. There is a lesson to be learned from this. More importantly, Binance.US actually has enough cash for this operation. Now all that's left is for Voyager's creditors to decide. I'm pretty sure it'll be a yes if they're desperate to see their money back. Congrats 🥳.

Conclusion: The market is neutral and BTC and ETH are holding for quite some time. So are Binance.US and Voyager Digital, but it's hard to imagine things would turn out any differently if, as Voyager said yesterday, the company was willing to accept the offer and Binance.US always had enough cash to close the deal. On the contrary, DCG and Barry Silbert are shaken even as they pretend to remain strong. Doesn't it smell like something that could soon unfold like a disaster? Or who do you bet on?

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

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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.