🏓 The fear will be gone

Hi, Folks! We will talk about the recession, the lack of fear among users and other reasons for the growth of cryptocurrencies today.

Your Favorite Crypto Digest From TradeCrypto.com #92

The statistics:

Market is green. BTC is now trading above $23,900, ETH is trading around $1,700.

💪 Bitcoin dominance: 42.43%

📉 Total Cryptocurrency Market Cap: $1.079 tr

😲 Fear and greed index: 39 (Fear)

🚀 Gainers(Top-100)

  • Optimism (OP)+48.53%

  • Ethereum Classic (ETC)+31.47%

  • Ravencoin (RVN)+24.61%

😭 Losers(Top-100)

  • UNUS SED LEO (LEO)-1.77%

  • Binance USD (BUSD)-0.03%

  • Fei USD (FEI)-0.24%

US Stablecoin Bill Pushed to After August Recess

Oops, something went wrong. In a statement, Rep. Maxine Waters (D-CA) said, 💬 "Although the Ranking Member, Secretary Yellen and I have made considerable progress towards an agreement on the legislation, we are unfortunately not there yet, and will therefore continue our negotiations over the August recess."

Meta’s Metaverse Division Loses $2.8 Billion in Q2

The social media giant disclosed this afternoon that its metaverse-specific division suffered losses 💸 of $2.81 billion this quarter. That puts the division’s year-to-date losses at an eye-popping $5.77 billion.

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“This is obviously a very expensive undertaking over the next several years,” 💬 conceded Meta CEO Mark Zuckerberg. “But as the metaverse becomes more important in every part of how we live… I’m confident that we’re going to be glad we played an important role in building this.” One wonders if he's regretted it yet.

Binance jumps into NFT ticketing after UEFA League fiasco

Following the chaos caused by counterfeit tickets in the UEFA Champions League 2022, crypto exchange 💱 Binance has launched the pilot of its nonfungible token (NFT) ticketing solution with football club Società Sportiva Lazio for the 2022 to 2023 season.

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Binance highlighted that NFT tickets will solve the issue of fake ❌ tickets and eliminate scalping, preventing disorder in sporting events. Apart from access to events, the NFT tickets will also serve other purposes. What about the older generation who don't know what NFT is?

FTC Sues Meta to Stop Facebook Parent From 'Owning the Entire Metaverse'

More trouble for Mark Zuckerberg. The FTC has filed suit to block ❌ Meta’s purchase of VR fitness app maker, Within. Beyond competition in the VR fitness space, the agency is also concerned about Meta’s plans for the budding metaverse.

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FTC believes that Meta’s planned acquisition of Within would be another move towards controlling it entirely 🌏. “Meta would be one step closer to its ultimate goal of owning the entire ‘metaverse,’” the filing alleges.

US lawmaker calls for Apple and Google to provide info on fake crypto apps

"Industry shouldn’t be allowed to write the rules that they want to play by,” 💬 said Senator Sherrod Brown in calling for U.S. lawmakers and regulators to address crypto scams.

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Senator Sherrod Brown, chair of the Senate Banking Committee, has penned letters 📑 to the CEOs of Google’s parent company Alphabet and Apple calling for the tech firms to provide information on the ways they prevent certain apps from promoting crypto scams. What do you think the answer will be?

Japan’s crypto groups call for end of taxing paper gains

The proposal will be submitted to Japan’s Financial Services Agency (FSA) this week, asking them to put an end to taxing unrealized gains on crypto holdings “if the firm owns them for purposes other than short-term trades.” The proposal also asks for lower 📉 income tax rates on crypto earnings for individual investors, from 55% to 20%.

Coinbase SEC investigation could have ‘serious and chilling’ effects

An investigation reportedly launched 🔉 by the Securities and Exchange Commission (SEC) into Coinbase’s alleged trading of unregistered securities could have a “serious and chilling effect” on crypto exchanges and token projects, according to a legal expert.

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Coinbase “could face very substantial fines” or potentially be required to register as an exchange 💱 in the U.S. as a result of the investigation. Interesting how this show will end.

Conclusion: As we can see from the Fear and Greed Index, the level of fear is already moving smoothly into a state of no fear. Perhaps this is a smooth reversal into a bullish phase. Because of the recession everyone sees a tendency to turn to riskier markets.

Thanks for being with us ;) Brought to you by Maksym, Aleksandar, and Nina :)

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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.