Your Favorite Crypto Digest From TradeCrypto.com

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

💪 Bitcoin dominance: 45.12%

📉 Total Cryptocurrency Market Cap: $1,276 tr

😲 Fear and greed index: 13 (Extreme Fear)

🚀 Gainers(Top-100)

0x (ZRX) +27.37%

Kyber Network Crystal V2 (KNC) +25.41%

Cosmos (ATOM) -12.69%

😭 Losers(Top-100)

Curve DAO Token (CRV) -9.27%

TerraUSD (UST) -5.01%

Convex Finance (CVX) -3.94%

Ethereum developers ✔ ️have reached another milestone on the road to the long-awaited ETH 2.0 network update. The Ropsten public test network will be updated to Proof-of-Stake consensus on June 8.

The configuration code for the test network update appeared in an inclusion request from Ethereum DevOps engineer Parati Jayanati in the eth-clients GitHub repository on Monday. Last month, developers working on The Merge, an update to the Ethereum network to switch it from the Proof-of-Work consensus model to Proof-of-Stake, began testing how the switch would work on the shadow fork.

CFTC expected to add more resources to better monitor crypto markets

According to Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam, the rise in fraud and manipulation related to cryptocurrency requires more resources from regulators, The Wall Street Journal 📝 .

"Headlines about losing tens of millions of dollars in digital assets due to protocol exploits, phishing attacks, preying on vulnerable people and other fraudulent and manipulative schemes have become all too common," Behnam said 🗣 ️ during a video presentation at the Chainalysis Links Conference on Wednesday.

Several tokens backing the so-called Ethereum killers have recorded double-digit losses 📉 over the past 24 hours, with Avalanche leading the bearish move.

According to CoinMarketCap, Avalanche (AVAX), the smart contract platform's own token 🤔 led by former Cornell University professor Emin Gun Sirer, has lost nearly 16% of its value in the past 24 hours and is currently trading at $27.94.

FTX US launches stock trading, accounts can be funded with stablecoins

FTX US announced Wednesday that select customers can now trade stocks and ETFs, making it the first proprietary cryptocurrency exchange to offer stocks on its platform.

The new product, which the company has been teasing for months, is called FTX Stocks and will allow users to fund their accounts with stable USDC coin as well as bank transfers. For now, FTX stocks will be ✔ ️ available to a small number of customers selected from a waiting list, but the company plans to roll them out to all users by mid-summer.

Commonwealth Bank (CommBank), Australia's largest bank, is suspending the launch of its cryptocurrency trading service with no clear timeline for resuming the project, The Guardian 📝 reported Thursday.

First announced in November, the service will allow CommBank's approximately 6.5 million app users to buy and sell up to ten cryptocurrencies, including bitcoin, ethereum and litecoin.

A week after its stablecoin briefly 📉 lost its 1:1 peg to the U.S. dollar, Tether's first quarter 2022 report shows that it reduced commercial paper in its USDT reserves by 16.8%.

According to the 📝 report, as of March 31, Tether's reserves of $82 billion were 86% cash and cash equivalents, with the remainder including $4 billion in corporate bonds, $3 billion in secured loans and $5 billion in other investments such as cryptocurrencies .

G7 calls for cryptography regulation in light of Terra collapse: report

As the crypto world continues to assess the damage caused by last week's market crash, G7 members are urging regulators to act before the body's next meeting in June.

Reuters 📝 reported that a draft letter from the countries' finance ministers and central banks asks the Swiss Financial Stability Board (FSB) to promote "consistent and comprehensive regulation" before the next G7 meeting in Germany.

Conclusion: After the situation around Terra, many countries are interested in serious regulation of cryptocurrency. Many cryptocurrencies are still very 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.