Your Favorite Crypto Digest From TradeCrypto.com

Market is green. BTC is now trading around $30 000, ETH is trading above $1 800.

💪 Bitcoin dominance: 46.89%

📉 Total Cryptocurrency Market Cap: $1,250 tr

😲 Fear and greed index: 10 (Extreme Fear)

🚀 Gainers(Top-100)

Internet Computer (ICP) +14.71%

Bitcoin SV (BSV) +7.41%

IOTA (MIOTA) +7.32%

😭 Losers(Top-100)

Maker (MKR) -3.46%

Kava (KAVA) -2.85%

Waves (WAVES) -2.20%

The Department of Justice 📢 announced the sentencing of a 👨 father and 👦 son from Monroe, Washington, to five years in ❗ prison yesterday after being charged with allegedly operating an ❌ illegal marijuana business and using Bitcoin to launder 💲 money.

In January, 🎵 rapper, producer, and fashion designer Kanye West shared an Instagram 🖼️ image of a handwritten note that included the line, “Do not ask me to do a fucking NFT” (he added, “Ask me later”). Despite that apparent reticence, he may now have plans to enter the space, based on newly-filed trademark applications.

West’s Mascotte Holdings Inc. has filed 17 trademark applications with the United States Patent and Trademark Office including mentions of potential “non-fungible assets” and “metaverse experiences.” In particular, one filing notes the potential for “providing an online marketplace for buyers of crypto and/digital collectibles, currencies, tokens, and assets.”

Potentially fueling a bullish approach to bitcoin (BTC) investments, only 17.9% of surveyed individuals said that they do not expect BTC to become legal tender within three years, according to a recent 📊 report prepared by The Economist Group and commissioned by crypto platform .

The answers to the survey were sourced from 🧑🏽‍🤝‍🧑🏻 a group of 3,000 people between January and February 2022. Some 50% of the respondents came from developed economies such as the US, the UK, France, South Korea, Australia, and Singapore, while the remainder came from developing economies, including Brazil, Turkey, Vietnam, South Africa, and the Philippines.

Crypto 401(k) Provider ForUsAll Sues US Department of Labor

ForUsAll, a 401(k) provider with over $1.7 billion in assets under management (AUM), has ❗ sued the U.S Labor Department (DOL) for planning an investigation into companies offering crypto 💲 investment options to 401(k) holders.

“This lawsuit seeks to preserve the rights of American investors to choose how to invest money in their own retirement accounts,” reads the lawsuit. “Brought under the APA [Administrative Procedure Act], this lawsuit challenges DOL’s arbitrary and capricious attempt to restrict the use of cryptocurrency in defined contribution retirement plans.”

Luna Classic (LUNC) tokens on the old Terra chain – now known as the Terra Classic chain – are still 🔁 circulating, and remain available on many 💱 exchanges. But with the algorithmic stablecoin terraUSD (UST) trading far below its dollar peg, and the ecosystem migrating to the new Terra chain, does the old Luna token still serve a purpose?

Cryptocurrency 💱 exchange and custodian Gemini said that it will ❌ lay off about 10% of its employees, citing “turbulent market conditions that are likely to persist for some time.” The firm, led by billionaire twins Cameron and Tyler Winklevoss, made 📢 the announcement in 📄 a blog post on Thursday morning.

The crypto industry is currently in a “contraction phase that is settling into a period of stasis,” also known as a “crypto winter,” according to their comments. “This has all been further compounded by the current macroeconomic and geopolitical turmoil. We are not alone,” the twins added.

Soros' Fund CEO Says Crypto is Here to Stay, Warns of Recession and FOMO Trap

Crypto is “here to stay,” but a recession may be around the corner and investors should beware of “FOMO,” according to Soros Fund Management CEO and Chief Investment Officer Dawn Fitzpatrick. Speaking in a 📹 video interview with Bloomberg, Fitzpatrick said that crypto is 👍 not going away any time soon as “it has gone mainstream” with companies like Fidelity allowing US clients to add bitcoin (BTC) to their retirement savings.

Still, the fund manager said there is “one caveat” to her view on crypto: “Climate impact is coming increasingly in focus, so in that context, I think ethereum (ETH) is likely to gain some more traction over Bitcoin,” Fitzpatrick, whose fund was founded by legendary investor George Soros, opined.

Conclusion: We often see more and more cryptocurrency criminal proceedings. Looks like LUNA is turning into another meme coin.

Let us know how you would rate today's digest:😍 Loved it🤨 Could have been better🤮 Better luck next time