Your Favorite Crypto Digest From TradeCrypto.com

Market is green. BTC is now trading around $20,300, ETH is trading above $1 050.

💪 Bitcoin dominance: 44,09%

📉 Total Cryptocurrency Market Cap: $0,883 tr

😲 Fear and greed index: 11 (Extreme Fear)

🚀 Gainers(Top-100)

Enjin Coin (ENJ) +15.44%

Cosmos (ATOM) +15.43%

😭 Losers(Top-100)

Synthetix (SNX) -9.61%

XDC Network (XDC) -0.76%

KuCoin Token (KCS) -0.71%

👀Looking to right historical ❌wrongs and build a 🌎global digital community with real-world impact, Web3 collective Afropolitan 📢announced that it had 💸raised $2.1 million in pre-seed funding to advance its vision of a ⚙️digital nation for the African Diaspora.

Participants in the raise include #Hashed, Cultur3 Capital, and ex-Coinbase CTO Balaji Srinivasan, who in 2021 ✍️wrote what would become the basis for Afropolitan's plans for a digital nation.

Hong Kong authorities are prosecuting a former senior manager at crypto 💱 exchange Huobi, accusing him of illicitly making $5 million by 🤐secretly trading against the company.

Per a report by The Financial Times on Wednesday, the case revolves around trades allegedly executed in February and March 2020 by Chen Boliang, a former senior manager in Huobi’s institutional clients department. Chen was 👮arrested in May 2020 and charged with accessing Huobi’s internal systems “with criminal or dishonest intent.”

Dogecoin is increasingly connected to 👮illicit activity including Ponzi schemes, the financing of ❗terrorism and ❗child sex abuse material (CSAM), according to a new 📢report by blockchain 📊analytics firm Elliptic.

Per the report, the meme coin has enjoyed 📈growing popularity as a method of payment; however, aside from legitimate causes, it has also caught the ❗attention of bad actors, with “millions of dollars worth of Dogecoin transactions connected to illicit activity,” identified.

A new 📢report from the Bank for International Settlements (BIS) concludes that crypto's "structural flaws" make it "unsuitable as the basis for a monetary system."

The Annual Economic Report 2022 from the BIS, a global organization of 63 leading central banks, goes on to suggest that blockchain’s role in a future monetary system will likely take the form of central bank digital currencies (CBDCs), because “a system grounded in central bank money offers a sounder basis for innovation.”

Cryptocurrency 💱 exchange dYdX 📢announced Wednesday that it is 🚀launching a standalone blockchain in a bid to decentralize the platform. The layer 1 blockchain will become the home of the DYDX token, which is currently trading at around $1.50, according to CoinMarketCap.

In a blog post 📢announcing the update, dYdX noted that having a standalone chain on Cosmos would provide the platform with extra flexibility around fees and features.

Binance.US will ✔️offer zero-fee bitcoin (BTC) trading on its platform as the company seeks to attract more users, the firm 📢said on Wednesday.

"Since inception, we have been known for our really low fees,” Binance.US CEO Brian Shroder said in an interview with Bloomberg. He noted that zero-fee trading is “something that we want to do because we can. This will generate positive user sentiment that will bring us new users.”

Blockchain research firm Chainalysis has 🚀launched a new 📞hotline that will provide support for organizations that have been targeted by a crypto-related cyber attack or ransomware demand.

The Crypto Incident Response 📞hotline will function 24/7, and victims will be paired with a team of investigators from Chainalysis who will trace and label the funds in Chainalysis’ program. If funds have already been transferred or stolen, the Chainalysis team will “help liaise with law enforcement and asset recovery counsel.”

Conclusion: Despite the strong volatility of the cryptocurrency at the moment, it is progressing more and more every day. The security of tokens will grow more and more.

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