🏓 CZ vs. Bloomberg

In today's edition of our daily digest, read about the game-changing ways in which regulation courts and other proceedings are affecting the market

Your Favorite Crypto Digest From TradeCrypto.com #90

The statistics:

Market is green. BTC is now trading above $21,200, ETH is trading around $1,400.

💪 Bitcoin dominance: 42.34%

📉 Total Cryptocurrency Market Cap: $ 0.958 tr

😲 Fear and greed index: 28 (Fear)

🚀 Gainers(Top-100)

  • Ethereum Classic (ETC)+14.58%

  • TerraClassicUSD (USTC)+12.70%

  • Quant (QNT)+9.55%

😭 Losers(Top-100)

  • Nexo (NEXO)-3.64%

  • Convex Finance (CVX)-3.46%

  • Curve DAO Token (CRV)-2.34%

Treasury Investigating Kraken for Alleged Iran Sanctions Violations

The U.S. Treasury Department’s Office of Foreign Assets Control is investigating the cryptocurrency exchange 💱 Kraken. Five people “affiliated with the company or with knowledge of the inquiry” told that Kraken is suspected of allowing customers in Iran and other sanctioned countries to use its exchange despite the company being prohibited from doing so.

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Dangerous news for the company. The United States has upheld economic sanctions ❌ against Iran since 1979, meaning no businesses based in the U.S. can buy or sell goods to anyone in the country.

Binance CEO CZ Sues Bloomberg Businessweek for Defamation in Hong Kong

What's the news without Changpeng Zhao? Zhao is seeking damages because the Chinese edition of Bloomberg Businessweek wrote 📑 a phrase which translates to “Zhao Changpeng’s Ponzi Scheme.” Zhao is also suing the publication for reusing that phrase twice more in corresponding Twitter and Facebook posts promoting the profile story about him.

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Zhao’s filing in Hong Kong argues that the published statements 💬 “were calculated to hold [Zhao] up to hatred, contempt and ridicule.” Per the lawsuit, the CEO’s legal counsel also argued that the statements were “published in a sensational manner.”

Bipartisan Bill Seeks to Eliminate Taxes on Crypto Transactions Under $50

An unexpected but very clever twist. Introduced by senators Patrick Toomey (R-PA) and Kyrsten Sinema (D-AZ), the Cryptocurrency Tax Fairness Act ⚖️ would exempt reporting crypto transactions of less than $50, or trades in which a person earns less than $50.

NFT Projects Lost $22M to Largely the Same Hackers on Discord

And no one draws any conclusions? According to a recent analysis by TRM Labs, cyber attacks against NFT collections 📲 have steadily risen in 2022, costing the NFT community over $22 million in May alone.

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One analysis concludes 💬 that hackers targeting Bored Ape Yacht Club and other NFT projects are part of a 'wider network.' Cyberattacks linked to NFT minting scams deployed through compromised Discord accounts subsequently increased by 55% in June 2022 compared to the previous month.

UPenn’s Wharton School rolls out online certificate course on business in the Metaverse

Seems like someone was inspired by the idea of a university in Tokyo? The Ivy League business school will charge 💰 $3,800 for a six-week course with over 50 lectures, including guest speakers, that will require 8-10 hours of studying per week.

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Wharton, one of the world’s leading business schools 🤝 , teamed up with consulting firm Prysm Group to design the course, which will include more than 50 lectures by faculty and industry representatives, as well as six case studies.

IMF Says Bitcoin Crash Hasn’t Harmed Global Financial Stability

Faint consolation or admission of the obvious? The International Monetary Fund ⚖️ said that the Bitcoin bear market hasn't had an impact on global financial stability in a Tuesday report.

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In its ‘World Economic Outlook Update: Gloomy and More Uncertain’ report published today, the IMF acknowledged that the crypto market has experienced a “dramatic” sell-off 📉—but added that it hasn’t yet hurt the financial system.

SEC Launches Probe into Coinbase Over Alleged Securities Listing

Did a black cat cross their road? The SEC is reportedly investigating 🔍 Coinbase for allowing U.S. residents to trade unregistered securities. A possible investigation relates to the insider trading case launched by the U.S. Securities and Exchange Commission (SEC) last week .

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Although the SEC did not accuse ❌ Coinbase of any wrongdoing at that time, the agency said it determined that the nine tokens traded by those accused of insider trading contained "indications of the definition of a security." Of those nine digital assets mentioned by the SEC, seven are currently still listed on Coinbase.

Conclusion: The main cryptocurrency has consolidated above 20,000 despite the recent sale of Tesla. Ethereum rose more due to expectations for a renewal in the fall. Everyone expects the rate and its impact on the rate.

Thanks for coming, see you soon ;) Brought to you by Maksym, Nina, and Svyat :)

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What is Crypto Ping Pong digest?

TC lads here are working quite hard and from time to time we gotta chill. Recently, we got ourselves a ping pong table to complete our lazy-bag-stuffed chill zone. As you all know our main hobby is Crypto, so even while we play we don’t really shut up about it. Ever.

So memes, leaks, gossips naturally come about – we collect them and share them with you in this interstellar space on our site we like to call Crypto Ping Pong digest.