Your Favorite Crypto Digest From TradeCrypto.com #87

The statistics:

Market is green. BTC is now trading above $22,900, ETH is trading around $1,550.

💪 Bitcoin dominance: 42.82%

📉 Total Cryptocurrency Market Cap: $1.02 tr

😲 Fear and greed index: 33 (Fear)

🚀 Gainers(Top-100)

• Bitcoin Gold (BTG)+24.93%

• Curve DAO Token (CRV)+21.54%

• ApeCoin (APE)+17.66%

😭 Losers(Top-100)

• XDC Network (XDC)-1.01%

• TrueUSD (TUSD)-0.03%

• USDD (USDD)-0.01%

Wow, more investigations and arrests? Three people allegedly used multiple Ethereum wallets to purchase 💸 certain tokens in advance of at least 14 separate Coinbase public listing announcements.

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️United States authorities have brought charges ⚖️ against three people for wire fraud conspiracy and wire fraud in connection with a scheme to commit insider trading using crypto, one of whom was a former product manager at Coinbase Global.

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In a Thursday announcement, the U.S. Attorney’s Office for the Southern District of New York, in conjunction with the New York Field Office of the Federal Bureau of Investigation, said 💬 it had filed an indictment against former Coinbase Global product manager Ishan Wahi as well as his brother Nikhil Wahi and associate Sameer Ramani.

At least someone decided to do it. Cybersecurity specialists have welcomed a new trial by the Australian Competition and Consumer Commission (ACCC) to automatically take down scam websites. The trial saw dozens of scam sites, including crypto scams, knocked ❌ offline after more than 300 were reported.

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The new trial will be in partnership 🤝 with the Australian Securities and Investment Commission (ASIC) and will focus on efficiently removing scam websites once they have been reported to Australian regulators to protect potential investors from falling victim to crypto fraud.

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Blockchain.com has become the latest crypto company 💱 to announce mass layoffs. Earlier today, the exchange said it was cutting its workforce by 25%, or about 150 people.

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Some 44% of the cuts impact employees in Argentina, while about a quarter of the affected workforce are from the USA and 16% from the United Kingdom.

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The exchange is tightening its purse strings after taking a $270 million 💰 hit from exposure, in the form of U.S. Dollar and crypto loans, to the now-bankrupt Singapore-based crypto hedge fund Three Arrows Capital, aka 3AC. Do you think this will be the end of the firing story?

One more reason for iPhone fans to envy the owners of the android system. Global cryptocurrency wallet and exchange 💱 platform Crypto.com is adding Google Pay as a payment option for Android users to buy cryptocurrencies. Google Pay is estimated to have over 100 million users who could make use of the latest payment gateway to cryptocurrency markets.

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Once the integration goes live next week, users 👥 that have set up their Google Pay accounts to be linked with a credit or debit card will be able to choose the payment option when on the Crypto.com app. The exchange lists over 250 cryptocurrencies accessible to some 50 million users worldwide.

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Google Pay also joined 🤝 forces with Bakkt in October 2021, while Nexo announced Google Pay integration with the launch of its cryptocurrency-backed Mastercard cards in April 2022.

The SEC today claimed 🔉 in a new court filing that at least nine digital assets listed on the cryptocurrency exchange Coinbase are unregistered securities.

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The nine assets in question are AMP (AMP), Rally (RLY), DerivaDEX (DDX), XYO (XYO), Rari Governance Token (RGT), LCX (LCX), Powerledger (POWR), DFX Finance (DFX), and Kromatika (KROM).

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"A digital token or crypto asset is a crypto asset security if it meets the definition of a security, which the Securities Act defines to include ‘investment contract,’ i.e., if it constitutes an investment of money in a common enterprise, with a reasonable expectation of profit derived from the efforts of others," 💬 the SEC wrote in a complaint filed today against a former Coinbase employee accused of insider trading. Where do you think this will lead to?

A fun battle between Bitcoin fans. Shortly after EV manufacturer Tesla disclosed it had sold three quarters of its Bitcoin holdings 💰 , MicroStrategy CEO Michael Saylor took to Twitter to publicly do the math.

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“If you sell 75% of your bitcoin, you will only have 25% of your bitcoin left,” Saylor tweeted 📲

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The MicroStrategy CEO appeared to be a poking fun at the announcement from Elon Musk’s company that it had traded 75% of its Bitcoin holdings for approximately $936 million 💰 in fiat currency over the past few months, as revealed in its Q2 earnings report.

Blockchain-based metaverse and Web3 platforms have decided to form an Open Metaverse Alliance 🤝 for Web3 (OMA3) to overcome the interoperability challenges of the industry. Four core principles of the Alliance are said to be transparency, inclusiveness, decentralization and democratization.

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The joint organization was established by Alien Worlds, Animoca Brands, Dapper Labs, Space, Superworld, The Sandbox (SAND), Upland and Voxels. As the official announcement 🔉 specifies, the means to overcome interoperability challenges would be focused on proposing standards and facilitating collaboration between various stakeholders of Web3 and other industries.

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Conclusion: Nobody cancelled the NDA. And insights become not such a tidbit. Cryptocurrencies are unregulated, but under close scrutiny when something illegal happens.

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.