Your Favorite Crypto Digest From TradeCrypto.com

Market is flat. BTC is now trading around $29600, ETH is trading above $1900.

💪 Bitcoin dominance: 45.18%

📉 Total Cryptocurrency Market Cap: $1.270 tr

😲 Fear and greed index: 11 (Extreme fear)

🚀 Gainers(Top-100)

Ethereum Classic (ETC) +1.04%

Kava (KAVA) +10.13%

Bitcoin SV (BSV) +4.49%

😭 Losers(Top-100)

Fantom (FTM) -6.26%

NEM (XEM) -5.13%

Decred (DCR) -4.06%

Pharma Bro Martin Shkreli: Ethereum’s Vitalik Buterin «Brilliant» But Also «Full of Sh*t»

In a Twitter Space on Monday, Shkreli critiqued Ethereum founder Vitalik Buterin, bashed NFTs, and went off on the 🤨 “sh*tcoin retards” who recently launched an altcoin in his honor. “I guess he’s mad at me because I think he’s full of shit, that, you know, it’s sort of been proven that there is no blockchain trilemma,” Shkreli said, claiming that Algorand founder Silvio Micali proved that the trilemma was “a mathematically weak idea.”

“No offense to Vitalik though, he was brilliant,” Shkreli added.

It would be a ❌ mistake to completely avoid cryptocurrencies after the recent 📉 collapse of the TerraUSD (UST) stablecoin and its sister token LUNA, according to Kristalina Georgieva, the managing director of the International Monetary Fund (IMF).

"I would beg you not to pull out of the importance of this [crypto] world," Georgieva said at the World Economic Forum's annual meeting in Davos on Monday. "It offers us all faster service, much lower costs, and more inclusion, but only if we separate apples from oranges and bananas."

Scott Minerd is betting on Bitcoin 's price again; this time, he's saying that we're not even close to the ⬇️ bottom.

"When you break below $30,000 consistently, $8,000 is the ultimate bottom, so I think we have a lot more room to the downside, especially with the Fed being restrictive," Minerd explained, referencing the U.S. central bank's 2022 interest rate hikes and tightening fiscal policies.

Crypto Could Use More Centralization: DraftKings CEO

Robins believes the current state of crypto is much like the early 🌐 internet, which was defined in part by rampant scams and complicated interfaces that intimidated non-tech-savvy users. He's hardly the first to draw that comparison. But he 🤗 believes what might make crypto more accessible to the masses is a little bit more centralization.

"The types of things [we need] to become mainstream fly directly in the face of decentralization. If you don't have some sort of centralized control, it's hard to protect people from themselves," he said.

After hundreds of thousands of investors fell victim to the 📉 collapse of the Terra stablecoin and its sister token LUNA, South Korean financial authorities are planning to enhance 🔍 monitoring of local crypto exchanges and introduce legal safeguards in the industry, The Korea Times reported Tuesday.

"We need to make exchanges play their proper role, and toward that end, it is crucial for watchdogs to supervise them thoroughly," Rep. Sung Il-jong of the ruling People Power Party said during a National Assembly emergency meeting. "When exchanges violate rules, they should be held legally responsible to ensure that the market functions well without any troubles."

Common Raises $20M to Build DAO Management Platform, Launch Token

The DeFi-focused startup Common has 💸 raised $20 million in its latest funding round, with Spark Capital, Polychain, Jump, Wintermute, Mirana Ventures (BitDAO's venture arm), and others participating.

Common’s new funds will go toward the further development and decentralization of its platform, also known as Commonwealth, which aims to become the ultimate community management platform for DAOs.

Crypto Poses Risk to Financial Stability in «Present Trajectory»: ECB

In a 📝 report published today titled "Decrypting financial stability risks in crypto-asset markets," part of the ECB's twice-yearly Financial Stability Review, the European regulator emphasized the ⚠️ danger posed by the increasing integration of crypto with traditional finance.

"If the present trajectory of growth in the size and complexity of the crypto-asset ecosystem continues, and if financial institutions become increasingly involved with crypto-assets," the report concludes, "then crypto-assets will pose a risk to financial stability."

Conclusion: More and more people are making predictions about the jumps in the price of bitcoin. However, these are just guesses. There is more and more controversy regarding the reliability of cryptocurrencies.

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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.