Your Favorite Crypto Digest From TradeCrypto.com

BTC is now trading around $20,500, ETH is trading above $1,150

💪 Bitcoin dominance: 43,84%

📉 Total Cryptocurrency Market Cap: $0,893 tr

😲 Fear and greed index: 22 (Extreme Fear)

🚀 Gainers(Top-100)

Pax Dollar (USDP)+0.14%

USD Coin (USDC)+0.02%

😭 Losers(Top-100)

Enjin Coin (ENJ)-2.27%

IOTA (MIOTA)-2.10%

The Sandbox (SAND)-2.08%

Crypto trading💱 platform CoinFLEX has detailed its strategy📄 to combat the company’s current liquidity crisis. In a blog post📲, co-founders Sudhu Arumugam and Mark Lamb announced📢 that the company has entered arbitration⚖️ in Hong Kong🇭🇰 to recover $84 million💰 in losses from a “large individual customer,” who, late last month, CoinFLEX claimed was prominent Bitcoin evangelist Roger Ver.

CoinFLEX has previously💬 stated that it was this single customer’s failure❌ to cover a debt that forced the company to freeze❄️ withdrawals platform-wide in late June.

Tesla and SpaceX CEO Elon Musk has withdrawn❌ his $44 billion💰 offer to buy Twitter, according🔉 to a filing with the Securities and Exchange Commission. Musk offered🤝 to buy the social media platform in April, however his comments since have triggered ample “will he or won’t he” speculation👥 about his looming purchase. And today, we finally know for sure: he won’t❌.

💬“Mr. Musk is terminating the merger agreement because Twitter is in material breach of multiple provisions of that agreement📄, appears to have made false and misleading representations upon which Mr. Musk relied when entering into the merger agreement, and is likely to suffer a company material adverse effect,”💬 reads an SEC filing from Musk’s attorneys.

The troubled crypto lending firm💱 Celsius reportedly used💸 its customers’ funds worth $534 million💰 to execute "high-risk📈 leveraged crypto trading strategies" through a third-party asset manager, a new report📑 by blockchain analytics firm Arkham Intelligence says.

Despite the myriads of state and federal regulatory hurdles faced by crypto businesses in the region, the United States🇺🇸 plays a major role🔝 in preserving the Bitcoin (BTC) and crypto ecosystem. With China🇨🇳 moving out of the picture following a permaban on crypto, the United States🇺🇸 maintains the top position in terms of hash rate contribution and ATM🏧 installations worldwide.

Prior to cracking down on BTC mining, China🇨🇳 historically represented over 50% of the total hash rate up until Feb 2021📈. With China🇨🇳 out of the competition, the US🇺🇸 picked up the slack to become the highest🔝 BTC hash rate contributor — representing 37.84% of the total mining power by Jan 2022📈.

Many Investors👥 are reeling from Voyager Digital’s recent bankruptcy filing, with some claiming🔉 to have either ‘millions’💸 worth of crypto assets or most of their life savings locked🔐 on the crypto exchange💱. Despite Alameda supplying the firm with a $500 million loan💰 in June, Voyager went on to file for bankruptcy❌ on July 6.

One user👥, referred to as Robert for anonymity purposes, stated he put roughly six figures on the platform, representing 70% of his life savings. “💬Every day, honestly, I cry,” Robert 💬said. Popular crypto influencer📲 Scott Melker, who is also known as The Wolf Of All Streets online and claims to have seven figures worth of funds stuck on Voyager💰. “Listen, I’m out millions of dollars,” 💬he said, adding that he was embarrassed about being over-exposed to Voyager❌.

Web3 subscription and ticketing🎫 solution provider Revuto announced🔉 a novel subscription model for Netflix and Spotify, using a nonfungible token (NFT) solution🤝.

Terra's collapse❌ wiped out billions of dollars💰 in value. It also left dozens of projects homeless❌. Almost 50 projects built on Terra, including the NFT marketplace🌎 OnePlanet and metaverse game🎮 Derby Stars, have begun migrating🔀 to Polygon—and more are on the way. "We will be putting capital and resources against these migrations to welcome the developers and their respective communities,"💬 Polygon Studios CEO Ryan Wyatt tweeted.

In a separate tweet, OnePlanet wrote📲: "Thanks to all the Ark*One partner projects and polygonstudios, we are all moving together to rebuild and grow💸 the NFT ecosystem."

Conclusion: Musk's deal fell apart again. The rate rolled back to the last values and is in a flat. The lack of commissions in the pairs on the binance could have contributed to this.fff

Let us know how you would rate today's digest:😍 Loved it🤨 Could have been better🤮 Better luck next time