Your Favorite Crypto Digest From TradeCrypto.com

Market is red. BTC is now trading around $20 500, ETH is trading above $1 000.

💪 Bitcoin dominance: 45%

📉 Total Cryptocurrency Market Cap: $0,968 tr

😲 Fear and greed index: 9 (Extreme Fear)

🚀 Gainers(Top-100)

Elrond (EGLD) +6.34%

Monero (XMR) +4.25%

Neurino USD (USDN) +2.66%

😭 Losers(Top-100)

Nexo (NEXO) -9.7%

THORChain (RUNE) -8.91%

 Flow (FLOW) -8.69%

As the crypto market continues 📉to melt down, Kraken CEO Jesse Powell took to Twitter to emphasize a return to a crypto-first culture as the early Bitcoin 💱exchange announced that it would continue hiring reframing "diversity and inclusiveness" in the process.

"We're going to keep building and hopefully do a better job of filtering up front," Powell tweeted. "I think we've developed some really thoughtful policies that might not appease woke activists but work for the other 99% of the world."

Three days after crypto lender Celsius 🤐abruptly 📢announced that it was pausing all customer withdrawals, swaps, and transfers, the beleaguered company’s CEO, Alex Mashinsky, has ✔️finally broken his silence on the matter. 

Mashinsky took to Twitter this afternoon, 📢speaking publicly for the first time since his company 🧊froze withdrawals Sunday night, to assure the Celsius community that the company’s team is working “non stop” on the ❌issue, and to request customers’ continued patience.

BitMEX 💱exchange co-founder Benjamin Delo was yesterday sentenced to 30 months probation by a New York federal court for violating the anti-money laundering Banking Secrecy Act, according to The Wall Street Journal.

The sentence concludes Delo’s part in the BitMEX legal saga, which has been ongoing since October 2020. Delo will return to his 👩wife and 🏠home in Hong Kong “potentially within days,” where he will serve his probation.  

Circle, the issuer of the USDC stablecoin, is 🚀launching a new fiat-backed digital asset called Euro Coin (EUROC), the company said on Thursday. The new Euro Coin will initially 🚀launch on the Ethereum blockchain as an ERC-20 token on June 30, with more supported networks to follow later this year.

Circle states in an accompanying press release that Euro Coin is fully-backed by 💶euro-denominated reserves “held conservatively in the custody of leading financial institutions within the U.S. regulatory perimeter, beginning with Silvergate Bank.”

Tokens of dogecoin (DOGE) and solana (SOL) 📈 rose as much as 16% in the past 24 hours to lead gains among major cryptocurrencies amid a broader market recovery.

Crypto market capitalization 📈 increased some 4.5% after 📉sliding under $1 trillion earlier this week and touching levels previously seen in early 2021. Bitcoin rebounded to the $21,000 level after a dip to just over $20,000.

The European Central Bank (ECB), the central bank of the European Union, is advancing 🗣️discussions on the digital 💶euro project, but decision-makers argue that is possible to fit the central bank digital currency (CBDC) with effective tools that would prevent it from being used as a form of investment - rather, it would only be used as a means of payment, according to Fabio Panetta, Member of the Executive Board of the ECB.

The banker 📢said in his remarks to the Committee on Economic and Monetary Affairs of the European Parliament, the EU’s legislative, that "one such tool entails quantitative limits on individual holdings." Yet another one, said Panetta, "involves discouraging its use as a form of investment by applying disincentivising remuneration above a certain threshold, with larger holdings subject to less attractive rates."

Bitcoin, Ethereum Struggle a Day After Fed's Record Rate Hike as Analysts Hope for a Bounce

The bitcoin (BTC) and broader crypto market ❌failed to recover higher and returned to the selloff on Thursday, after a brief rally following the US Federal Reserve’s (Fed) 📢announcement on Wednesday that it had raised rates by 75 basis points, its largest rate hike since 1994.

From a low of USD 20,111 on Wednesday morning UTC time, BTC rose more than 12% to reach close to USD 23,000 before once again giving back most of the gains.

Conclusion: The crypto market looks tired :( 

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