Your Favorite Crypto Digest From TradeCrypto.com

Market is down. BTC is now trading above $27 000, ETH is trading around $1,400.

💪 Bitcoin dominance: 44.25%

📉 Total Cryptocurrency Market Cap: $1,565 tr

😲 Fear and greed index: 12 (Extreme Fear)

🚀 Gainers(Top-100)

PAX Gold (PAXG) +0.92%

😭 Losers(Top-100)

Terra (LUNA) -96.46%

eCash (XEC) -50.41%

Fantom (FTM) -0.25%

Crypto Exchanges "Trading Against Their Customers," Says SEC Chair Gensler

🛡️ Securities and Exchange Commission chair Gary Gensler leveled sharp criticism at cryptocurrency exchanges and stablecoins during an interview on Tuesday. Gensler took ❗ issue with the fact that many of the largest cryptocurrency exchanges run custody, market-making, and trading services without keeping them separate the way traditional exchanges are required to.

“Crypto’s got a lot of those challengesof platforms trading ahead of their customers,” Gensler 🗣️ told Bloomberg. “In fact, they’re trading against their customers often because they’re market-marking against their customers.”

Germany Won't Tax Bitcoin, Ethereum Sold After One Year of Possession

🔥 Germany's federal finance ministry (BMF) issued the country’s first guidance on the income tax treatment of cryptocurrencies, as well as other blockchain-based tokens.

Most important, the sale of acquired cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH) is now tax-free for individuals after one year of owning the assets, Parliamentary State Secretary Katja Hessel 🗣️ said in a statement.

Crypto Twitter was already operating on all cylinders 2 days ago, as Bitcoin and other top cryptocurrencies plummeted toward lows not seen in over a year. Then Terra’s stablecoin, UST, 📉 fell off a cliff, and the social media platform whirred into overdrive.

❓ Questions abounded as UST began, and then continued, to plummet: How could a stablecoin become so ... unstable?

Shiba Inu Is Rebounding Faster Than Dogecoin After Crypto Crash

The cryptocurrency market is showing a little bit of life today after resent drastic 📉 collapse, during which many of the top coins had shed 10% or more of their value. Overall, the market is up a couple percentage points and when it comes to meme coins and tokens, Shiba Inu is 📈 rising at a higher clip than its chief rival, Dogecoin.

What’s triggering SHIB’s speedier recapture of value? There’s no obvious sign this time aroundno tweet or announcement from the creators or a major influencer, nor does the 24-hour chart show any sudden pops.

Pan-African Crypto Exchange Mara Launches With Backing From Coinbase, Alameda

MARA, a pan-African crypto exchange, announced its launch today, alongside a $23 million raise from backers including Coinbase Ventures, Alameda Research, (FTX) and Distributed Global. The exchange also 🗣️ announced that it has struck a 🤝 deal to become the official crypto partner of the Central African Republic, which last month became the second country in the world to adopt Bitcoin as legal tender.

As part of the partnership, the platform said, it will act as an advisor to President Faustin Archange Touadéra on crypto strategy.

In what will surely be a historic week in stablecoin history, Terra’s LUNA, the currency that backs its dollar-pegged stablecoin UST, has slid beneath a dollar at the time of writing.

U.S. Treasury Secretary Janet Yellen pointed to Terra’s 📉 collapse as an example of crypto’s risks and another reason why we need stablecoin ❗ regulation this year.

«Fire Sale Prices»: Coinbase CEO on Stock's 87% Decline Since 2021 Debut

Coinbase shareholders are reeling as the stock price 📉 fell about 30% on Wednesday, after the company posted earnings that widely missed analysts' expectations.

😥 The current price reflects a staggering 87% drop from April of 2021 when Coinbase went public through a direct listing and shares briefly traded at $381. While the stock mostly held its value until the end of last year, it began to slump as the crypto markets cooled off in January before falling precipitously last month.

Conclusion: One of the largest cryptocurrencies may disappear from the market (LUNA). More and more countries are investing in cryptocurrencies. Most of cryptocurrencies remain too volatile.

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What is Crypto Ping Pong digest?

So all the TC lads here are working quite hard and from time to time we gotta chill.

That’s why 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.

During the game, we have a rule not to discuss serious topics like analytics, predictions, etc.