Your Favorite Crypto Digest From TradeCrypto.com

Market is green. BTC is now trading above $20,350, ETH is trading around $1,150.

💪 Bitcoin dominance: 43.43%

📉 Total Cryptocurrency Market Cap: $0,895 tr

😲 Fear and greed index: 18 (Extreme Fear)

🚀 Gainers(Top-100)

THORChain (RUNE)+6.20%

Gala (GALA)+5.53%

😭 Losers(Top-100)

TerraClassicUSD (USTC)-11.16%

Synthetix (SNX)-3.50%

TRON (TRX)-1.86%

The Boring Company opened a transit🛣 station in Las Vegas 🇺🇸 on Friday and announced🔉 Dogecoin as a new payment💸 method for using the Vegas Loop system, according to reporting from CNN Business.

Boring Company founder and Tesla CEO Elon Musk said💬 in a tweet that he’s “supporting Doge wherever possible,” in response to CNN Business’s story being shared📲 on Twitter, all but confirming the new use case for Dogecoin🪙, the tenth-largest cryptocurrency by market capitalization.

South Korean🇰🇷 justice minister Han Dong-hoon was in New York🇺🇸 recently to discuss various ways🔀 in which the two nations can corporate🤝 on investigations associated with financial crimes, especially crypto-related crimes😎. The two sides discussed💬 ways to exchange information and strengthen cooperation🤝 to ensure timely action on the increasing number📈 of securities frauds associated with the digital asset market, reported🔉 the publication.

The U.S🇺🇸 has recently opened a new investigation against Terra co-founder Do Kwon, while the South Korean🇰🇷 prosecutors are looking into several charges including fraud, market manipulation and tax evasion💰.

Porter Finance, a decentralized finance💰, or DeFi, protocol based on the Ethereum (ETH) blockchain⛓, announced🔉 Tuesday that it was shutting down its bond issuance platform📲. In explaining the discussion, Porter Finance💬 said:

"Looking forward, we are not confident there will be large inflows of lending demand for fixed income💰 DeFi products like the ones offered through Porter Finance. This is primarily due to the competitiveness of rates offered in traditional finance and the lack of institutional fixed income💸 DeFi adoption over the past year📉. We are also no longer willing to take on the legal risk associated with bond offerings❌."

Crypto mining firm Riot Blockchain said💬 it has begun relocating rigs from its New York🗽 data facility, with the majority intended to end up in central Texas🤠.

In a Wednesday announcement🔉, Riot said it has transitioned some of its mining rigs from a Massena, New York facility — named Coinmint — as part of an effort to reduce the firm’s operating expenses through lower📉 power costs and eliminate💬 “all third-party hosting fees.” The move comes amid many parts of Texas experiencing temperatures over 100 degrees Fahrenheit, and power🔋demands rising for air conditioners to keep residents cool❄️.

The Financial Services and Markets Authority (FSMA), the Belgian🇧🇪 regulator, is seeking comments on its communication🤝 on the classification of crypto assets as securities, investment💸 instruments or financial instruments⚒. Aimed at issuers, offerors and service providers, the agency’s communication🤝 will serve as guidance to the existing order until European🇪🇺 regulatory harmonization is achieved.

The communication👥 is meant to address frequently asked questions💬 and is not exhaustive. It is accompanied by a stepwise chart to help🤝 its readers determine the classification of an asset.

Despite the Chinese🇨🇳 government banning❌ all kinds of cryptocurrency transactions📲 last year, some firms apparently still use stablecoins🪙 like Tether (USDT) to pay their employees. Beijing’s Chaoyang District People’s Court has ruled that stablecoins🪙 like USDT cannot be used❌ for salary payments, the local news💬 agency Beijing Daily reported on Wednesday.

The Chinese🇨🇳 court stated that virtual currencies like USDT cannot circulate🔄 in the market as a currency, which requires all employers to only pay💸 their workers using the official currency, renminbi (RMB).

Days after pausing trading📉, withdrawals💸 and deposits💰, crypto exchange💱 Voyager Digital is filing for bankruptcy❌ under Chapter 11 in the Southern District Court of New York🇺🇸.

Voyager’s Chapter 11 bankruptcy filing📑 indicated that it is on the hook for anywhere from $1 billion to $10 billion 💰in assets to more than 100,000 creditors👥. The troubled crypto exchange💱 wasted no time after the United States🇺🇸 holiday to file for bankruptcy on Tuesday. In a Wednesday statement,💬 Voyager explained that the move is part of a📑 “Plan of Reorganization.”

Conclusion: China is trying to get rid of the USDT recognizing it as illegitimate. USDT is used by many exporters as a means of payment with other countries. Of course, this prevents the full implementation of the digital yuan. Also Musk does not let himself be forgotten, despite the poor condition of the market.

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