Your Favorite Crypto Digest From TradeCrypto.com

Market is flat. BTC is now trading around $30 000, ETH is trading around $2 000.

💪 Bitcoin dominance: 42.25%

📉 Total Cryptocurrency Market Cap: $1,290 tr

😲 Fear and greed index: 8 (Extreme Fear)

🚀 Gainers(Top-100)

Maker (MKR) +11.65%

Elrond (EGLD) +10.54%

Kusama (KSM) -10.11%

😭 Losers(Top-100)

TerraUSD (UST) -23.36%

Arweave (AR) -10.71%

Axie Infinity (AXS) -4.15%

Vitalik Buterin, creator of Ethereum, ❗ critiqued the entire premise of UST, citing it as, from inception, intentionally misleading and inherently flawed.

Zhao, one to rarely comment on the operations of cryptocurrencies traded on his company’s platform, made an exception yesterday to tweet that “forking” LUNA, or splitting the blockchain to create a second version, “won’t work.”

FTX CEO Sam Bankman-Fried: Bitcoin ”Not a Payments Network”

Sam Bankman-Fried, CEO of the 📈 fast-growing crypto exchange FTX, said that Bitcoin ❌ isn’t a suitable payments network.

“The Bitcoin network is not a payments network and it is not a scaling network,” he told the Financial Times on Monday.

Grayscale Investments has today announced that its “Future of Finance” exchange-traded fund (ETF) will list on the London Stock Exchange, Borsa Italiana, and Deutsche Börse Xetra.

The fund is based on the Bloomberg Grayscale Future of Finance Index (BGFOF), which tracks the 💪 performance of financial services companies “projected to be leaders of the emerging digital economy.”

Australian Tax Authority Issues Stark Warning for Crypto, NFT Investors

In a release setting out its priority areas, the Australian Taxation Office (ATO) reminded consumers that 💸 selling a token can attract capital gains tax, just as it would for the sale of property, shares, or another asset.

“Through our data collection processes, we know that many Aussies are buying, selling or exchanging digital coins and assets so it’s important people understand what this means for their tax obligations,” said ATO assistant commissioner Tim Loh.

DEI, a hybrid algorithmic stablecoin from the DeFi protocol DEUS Finance, 📉 lost its dollar peg on Sunday, according to data from CoinMarketCap.

The DEI stablecoin currently trades at $0.66 after recovering from an all-time low of $0.55 recorded on May 16. Though DEI resembles Terra’s UST in many ways, DEUS Finance’s stablecoin is collateralized (unlike UST).

Binance CEO Changpeng Zhao said Monday that the cryptocurrency exchange ❌ never sold the 15.4 million LUNA it received in return for a $3 million investment made in the Terra ecosystem in 2018.

Binance’s holdings in the Terra blockchain’s governance token were at one point worth $1.6 billion. Now it’s worth just $2,461, and still 🤔 sitting in the wallet that it was sent to "never moved or sold,” Zhao wrote in a tweet.

Chainlink Hires Google Vet Who Developed TensorFlow AI System

Chainlink is the most popular "oracle" in the crypto ecosystem, serving as an essential source of information for millions of smart 📝 contracts supplying reliable data on everything from prices to asset 📍 location to ☁️ weather.

That's why it's notable that Chainlink has hired Kemal El Moujahid, who oversaw product management for Google's machine learning platform known as TensorFlow.

Conclusion: Discussions around Terra still do not subside. Many people still criticize Do Kwon's actions in an attempt to save an already dead cryptocurrency. Not all stablecoins are so stable (and it's not about UST) 🤔.

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

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.