Your Favorite Crypto Digest From TradeCrypto.com #156

The statistics:

Market is green. BTC is now trading above $20,800, ETH is trading around $1,500

💪 Bitcoin dominance: 41.49%

📉 Total Cryptocurrency Market Cap: $ 0.963 tr

😲 Fear and greed index: 32 (Fear)

🚀 Gainers (Top-100)

• Klaytn (KLAY)+24.37%

• Dogecoin (DOGE)+20.60%

• Mina (MINA)+15.71%

😭 Losers (Top-100)

• Chain (XCN)-7.71%

• Huobi Token (HT)-3.04%

• Casper (CSPR)-2.07%

Already at the finish line. Elon Musk appears to be on track to close his blockbuster $44 billion deal for Twitter. Mr. Musk, who runs Tesla and SpaceX, visited Twitter’s San Francisco headquarters on Wednesday and tweeted a nine-second video 📺 of himself smiling and carrying a porcelain sink into the building.

“Entering Twitter HQ — let that sink in!” he wrote. Mr. Musk, also changed his profile on Twitter by describing himself as “Chief Twit” and marking his location as “Twitter HQ.” In addition, some banks began sending $13 billion in cash, in support of the deal. He is also set to address 📲 Twitter employees on Friday, according to the employees and an internal note from Leslie Berland, the company’s chief marketing officer.

The detective chief superintendent for the United Kingdom’s National Police Chiefs’ Council (NPCC), Andy Gould, has said all police forces in the country have officers trained for investigations involving the enforcement and seizure of cryptocurrencies. “There are now officers in every force and every regional organised crime unit who are trained and equipped to [investigate and seize crypto tied to crimes],” 💬 Gould said. “We have nationally procured the investigative tools to enable them to progress the investigations, and we have a national storage platform to store that once we have seized it.” Not badly organized.

Big Five technology player Meta is still burning cash through its Metaverse research and development arm Reality Labs with a $3.67 billion 💰 loss posted for the third quarter of 2022, stating those losses will further deepen next year. The company’s Q3 2022 earnings released show the biggest-ever quarterly losses for Reality Labs from earnings dating back to the fourth quarter of 2020, the business also made $285 million in revenue for the third quarter, its lowest on record within that time.

With its Reality Labs business marking its third straight quarterly loss totaling $9.44 billion so far in 2022, Meta is shaping up to beat its 2021 losses on its metaverse play which saw just over $10 billion in losses last year. Those year-on-year losses are set to deepen as Meta CFO Dave Whener stated in the earnings: “Beyond 2023, we expect to pace 📈 Reality Labs investments such that we can achieve our goal of growing overall company operating income in the long run.” Expected and logical.

They don't stop making new achievements. Binance has launched 📢 an oracle network for its BNB Chain ecosystem, which will connect the blockchain to real world data and vice versa. An “early bird program” involving ten BNB projects kicked off at the same time. Oracles make it possible for smart contracts to access data that exists outside of a blockchain. For instance, a protocol may want its smart contract to be triggered based on securities prices, macroeconomic indicators, or even weather data. The projects, which have already integrated the Binance Oracle, includes some of the largest teams on the BNB chain.

Crypto exchange Blockchain.com has partnered with Visa to launch a crypto card, available to only U.S. residents initially, which allows users to pay using their crypto or cash balance wherever Visa debit cards are accepted. Blockchain.com 💱 revealed that there would be no sign-up or annual fees, no transaction fees, and users would earn 1% of all purchases back in crypto.

Blockchain.com CEO Peter Smith said the card already had 50,000 signed onto a waiting list, noting: 💬 “There’s still a lot of demand for crypto products, but you’re seeing that demand shift away from trading and more towards folks that are interested in using DeFi, using their balances.” Mastercard is hard to beat.

Seba Bank has launched a regulated custody platform allowing its clients to store NFTs, the firm announced. The NFT custody solution enables Seba Bank’s retail and institutional clients to store 🔐 any Ethereum-based NFTs, including tokens from world-famous NFT collections like Bored Ape Yacht Club and CryptoPunks, the firm said. “There is no marketplace integration with Seba Bank at this time,” a spokesperson for the firm told. The company will also perform due diligence at the client’s request before deciding whether to provide custody for a certain NFT or not. “The custody service offered is by no means restricted to top collections,” they stated.

Google today agreed to improve its legal compliance program after losing data related to BTC-e, a criminal crypto exchange 💱 investigated and shut down by the FBI for alleged money laundering in 2017. “In the filed stipulation, Google represented to the court that it spent over $90 million on additional resources, systems, and staffing to implement legal process compliance program improvements,” said the DOJ.

BTC-e operated in the United States from 2011 to 2017, handling an estimated $9 billion in Bitcoin transactions during that time. According to the Justice Department, its operators allowed users—many of which were criminals—to trade Bitcoin anonymously and launder money 💸. Correcting their mistakes.

Conclusion: Not only has Bitcoin crossed the $20,000 dollar line, but the market is generally buoyant. Also, Musk is buying Twitter (if it doesn't happen this time, it's not our fault). Bloggers are starting to talk about it being a reversal and that a bull market is coming. We really hope so :)

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.