Your Favorite Crypto Digest From TradeCrypto.com

Market is green. BTC is now trading above $19,400, ETH is trading around $1,050.

💪 Bitcoin dominance: 43,74%

📉 Total Cryptocurrency Market Cap: $0,847 tr

😲 Fear and greed index: 15(Extreme Fear)

🚀 Gainers(Top-100)

Curve DAO Token (CRV)+0.77%

Litecoin (LTC)+0.66%

😭 Losers(Top-100)

Internet Computer (ICP)-1.53%

Quant (QNT)-1.11%

TerraClassicUSD (USTC)-0.75%

A New York💰 bankruptcy judge on Tuesday gave liquidators full control🎮 of Three Arrows Capital’s U.S. assets💰 and authorized them to issue subpoenas📬 to co-founders Su Zhu, Kyle Davies, and other parties👥 with information about the Singapore-based🇸🇬 crypto hedge fund.

The move🤝 brings the embattled lending platform’s total debt💰 across DeFi protocols down📉 to just $59 million💰. The struggling crypto lending platform💱 Celsius has nearly cleared all of its outstanding DeFi debt💰 after recovering 400,000 collateralized Staked Ethereum (stETH)🪙 from its loan📑 on Aave.

The withdrawal💸 amounts to $415 million in crypto🪙 that’s been saved🔐 from the risk of liquidation—almost a tenth of the asset’s $4.4 billion💰 market cap. As revealed through Nansen Portfolio tracker💬, the firm repaid🔂 $81.6 million in Circle’s USDC stablecoin🪙 to Aave on Tuesday. This reduced its outstanding debt💰 to the protocol from $90 million to just $8.5 million📉.

Russia's🇷🇺 central bank🏦 sees the digital ruble as the only technological⛓ payment option to support. In a fresh episode of the longstanding battle🥊 between the Central Bank of Russia🏦 (CBR) and the country's Ministry of Finance🏦, representatives of the former have criticized❌ the latter’s idea of supporting the stablecoins,🪙 which some private investors👥 have sought to launch🔉 in the country.

The French🇫🇷 presidency of the European Union🇪🇺 winds down with the completion📑 of wCBDC experiments, the design of a proprietary blockchain⛓ and an automated market📲 maker platform. The first phase of experiments🗂 with a wholesale digital euro💶 has been completed, and Phase 2 experiments will begin🔜 this year, Banque de France governor François Villeroy de Galha💬u said Tuesday. Four or five new experiments🔬 are expected to be launched🔉.

Speaking at the Paris🇫🇷 Europlace International Finance Forum, the French central banker👥 summed up the European Union’s🇪🇺 achievements in crypto-asset regulation🔐 under the Frenc🇫🇷h presidency, mentioning the Transfer Fund Regulation🤝 (Travel Rule) and Markets in Crypto-Assets🧑‍⚖️ (MiCA), specifically.

Even with Bitcoin, Ether and altcoins in a bear🐻 market, venture funding💰 for the blockchain⛓ industry continues to grow📈. Prominent crypto investor💸 Multicoin Capital has launched🔉 a new venture fund💰 valued at $430 million, further demonstrating venture🔐 capital’s growing interest in the blockchain⛓ economy amid the bear market.

Multicoin’s Venture Fund III will invest between $500,000 and $25 million in early-stage🔜 companies across various crypto- and blockchain-focused industries💱, the company announced🔉. It’s also willing to invest💸 values of up to $100 million or greater for later-stage projects with an established brand and market presence👥.

Thousands of Sri Lankans🇱🇰 took to the streets of Colombo in protest❌ of the government’s response to the economic📉 situation in the country. Amid economic and political turmoil🤭, the Central Bank🏦 of Sri Lanka🇱🇰, or CBSL, has warned💬 the public against crypto purchases due to the lack of regulatory oversight📲.

In a Tuesday notice, the CBSL💬 said it has not authorized or licensed📑 any company in Sri Lanka🇱🇰 to offer crypto-related services, including exchanges💱, initial coin🪙 offerings and mining⛏. The central bank🏦 said the warning was in response to 💬“recent developments in relation to virtual currency usage,” likely referring to the market downturn📉 and significant volatility in the prices💸 of cryptocurrencies like Bitcoin (BTC).

“Even though the tradecraft is not perfect right now… it’s still a fresh market for North Korea🇰🇵,” 💬says former CIA analyst Soo Kim. North Korea-backed🇰🇵 cyberattacks on cryptocurrency⛓ and tech firms will only become more sophisticated over time as the country battles🤝 prolonged economic sanctions and resource shortages🔐.

Former CIA analyst Soo Kim told💬 CNN on Sunday that the process of generating 📂 overseas crypto income💰 for the regime has now become a “way of life📈” for the North Koreans🇰🇵: “In light💡 of the challenges that the regime is facing🤔 — food shortages, fewer countries willing to engage with North Korea🇰🇵 this is just going to be something that they will continue to use 📲 because nobody❌ is holding them back, essentially.”

Conclusion: Many countries are following China's lead in launching digital assets. There is no denying that these technologies have shown an ease, transparency and speed that no one thought possible.

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