🏓 Huobi sells stocks - Ping-Pong Crypto Digest #103

Daily statistics update:

Today's market is in the sidebar, some of the alts are green, and some are red. BTC is now trading above $24,800, ETH is trading around $2,000.

💪 Bitcoin dominance: 40.98%

📉 Total Cryptocurrency Market Cap: $ 1.157 tr

😲 Fear and greed index: 45 (Fear)

🚀 Gainers(Top-100)

• UNUS SED LEO (LEO)+6.59%

• Shiba Inu (SHIB)+6.88%

• Ankr (ANKR)+0.05%

  😭 Losers(Top-100)

• Celsius (CEL)-14.01%

• Lido DAO (LDO)-13.84%

• The Graph (GRT)-9.31%

Well, we could see this one coming...

In the week following the blacklisting ❌ of Tornado Cash by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC), the price of the token underpinning the system is down 56%, starting the week at a high of $31.56 and ending the week at a low of $13.09, according to CoinMarketCap.

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NFT marketplace OpenSea is changing its tactics around assets that are reported as stolen. Users have complained about OpenSea’s policy 🔐, which some allege punishes users who inadvertently purchased previously stolen NFTs.

OpenSea wrote that it will now require a police report to be submitted within seven days of flagging an NFT as stolen. If a police report 🔎 isn’t submitted in time, then the hold on the items will be lifted. One wonders if this will work.

BlueBenx, a Brazilian crypto lending 💱 platform, reportedly blocked all of its 22,000 users from withdrawing their funds following an alleged hack that drained $32 million (or 160 million Brazilian real).

BlueBenx, a Brazilian crypto lending 💱 platform, reportedly blocked all of its 22,000 users from withdrawing their funds following an alleged hack that drained $32 million (or 160 million Brazilian real).

While no details about the hack were made available, the company allegedly laid off most of its employees 👥. BlueBenx joins the growing list of crypto companies that failed to deliver on their promise of exorbitant yield returns this crypto winter. Many companies started out that way, so what's next?

Oops. not a pleasant experience. The Indian Directorate of Enforcement froze ❄️ $46.4 million in the accounts of Vauld’s Indian branch until the exchange can account for the criminal proceeds it transferred out of the country.

The move is linked to an ongoing investigation into money laundering by China-linked instant loan companies. This is the second time this week the agency has taken action in the crypto sphere in connection with that case.

The government of Uzbekistan, which has previously made significant steps toward a moderate approach to crypto, announced 🔈 Wednesday that it has restricted access to a number of large international crypto exchanges due to accusations of unlicensed activity.

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The Bank of Russia continues working towards the upcoming adoption of the central bank digital currency (CBDC), planning an official digital ruble rollout in a few years.

According to the Bank of Russia’s latest monetary policy update ⚖️ , the authority will begin to connect all banks and credit institutions to the digital ruble platform in 2024. Does anyone else have opinions on the success of this idea?

Who will be the lucky one? Leon Li, the co-founder of global crypto exchange Huobi, is reportedly in talks to sell the majority of his stake in the company, which could be valued at over $1 billion 💰.

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Li reportedly had discussions with multiple financiers seeking to offload a 60% stake in the crypto company, which could be valued at over $1 billion and some believe could fetch as high as $3 billion. Huobi co-founder Leon Li reportedly informed 🔈 about his decision to other backers of the company in a July shareholders meeting.

Conclusion: The market has consolidated above $24,000 per bitcoin. Interest in cryptocurrencies is returning despite unfavourable global economic news. Perhaps the big players are again luring everyone into the trap and trying to collect liquidity.

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.