Your Favorite Crypto Digest From TradeCrypto.com #125

The statistics:

The market today is red. BTC is now trading above $20,300, ETH is trading around $1,600.

💪 Bitcoin dominance: 40.37%

📉 Total Cryptocurrency Market Cap: $ 0.964 tr

😲 Fear and greed index: 27 (Fear)

🚀 Gainers (Top-100)

• Ravencoin (RVN)+2.36%

• Kyber Network Crystal v2 (KNC)+2.35%

• eCash (XEC)+1.13%

  😭 Losers (Top-100)

• Terra (LUNA)-21.63%

• Solana (SOL)-12.70%

• ApeCoin (APE)-11.47%

Former Coinbase staffer Ishan Wahi previously pled not guilty, but his brother appears to have told a different story. Nikhil Wahi, brother of former Coinbase product manager Ishan Wahi, pleaded guilty in a Monday hearing to one count ⚖️ of conspiracy to commit wire fraud in connection with an alleged insider trading scheme.

“Less than two months after he was charged, Nikhil Wahi admitted in court today that he traded in crypto assets based on Coinbase’s confidential business information to which he was not entitled,” 💬 said Damien Williams of the U.S. Attorney's Office in New York in a statement. Very honest act.

Wow, happy addition. Universal Music Group announced 📢 today that its virtual metaverse band, Kingship—which features characters based on Bored Ape Yacht Club NFT artwork—has tapped a pair of very real music producers that have created hits for superstars like Beyoncé, Jay Z, and Bruno Mars. The veteran producers—Chauncey “Hit-Boy” Hollis and James Fauntleroy—will take the roles of co-executive producers and songwriters behind the Bored Ape band. 

A new trial is coming up. Digital asset custodian BitGo has filed a lawsuit against crypto investment firm Galaxy Digital, following through on its announced plan to seek more than $100 💰 million in damages after Galaxy pulled out of its planned acquisition of the company.

BitGo filed the suit late Monday, the company tweeted this morning. The firm previously stated in August that it would do just that, shortly after Galaxy Digital axed ❌ the deal citing “BitGo's failure to deliver, by July 31, 2022, audited financial statements for 2021 that comply with the requirements of our agreement.”

Twitter (TWTR) shareholders voted in favor of Elon Musk's bid to buy the social media giant for $44 billion. Shareholder approval ☑️ was necessary to complete the deal. The takeover offer values Twitter at $54.20 per share. Twitter shares are currently up 1.6% to $42.09. Now Elon Musk can refuse to buy the social network only by court order. Waiting for trial decision.

Lots of work ahead. Popular NFT project Doodles has announced a $54 💰 million fundraise led by Alexis Ohanian’s venture capital firm 776, with additional participation from Acrew Capital, FTX Ventures, and 10T Holdings. 

Having already penned a deal during this year’s NFT NYC to make musical ⭐️ icon Pharrell Williams their new Chief Brand Officer, and after recently deploying its popular second collection, “Doodles 2,” the NFT collection now has fresh funds to continue its expansion.

Oops, surprise. Introduced on Sept 5, the bill strives to clarify the country's regulatory framework for cryptocurrency assets, stating that all companies that provide 💱 digital asset-related services, including initial coin offerings (ICOs) are under the supervision of the Superintendency of Financial Services (SSF), a central bank entity. Cryptocurrency exchanges, custody services and any financial services relating to these digital assets should also adhere to Anti-Money Laundering regulations and best practices.

What a gift. OFAC will provide an avenue for Tornado Cash users to legally withdraw 💸 deposited funds from the now-blacklisted platform, according to a Tuesday update to the “frequently asked questions” portion of its website. 

Individuals who deposited funds into Tornado Cash prior to August 8 will now be able to request a special license from OFAC that, if granted, would allow them to access and withdraw 📲 the funds. In addition, according to the updated website, individuals who have been nonconsensually sent small amounts of Tornado-cash affiliated funds will likely not be at risk of criminal prosecution.

Conclusion: There's a reason our editor staff has been confused by the market for the past two weeks. This lull foreshadows the obligatory movements. That's what we're seeing - price drawdown, and the liquidation of long positions.See you tomorrow, folks! Thanks for being with us :) Brought to you by Maksym, Svyat, and Aleksandar :)

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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.