Your Favorite Crypto Digest From TradeCrypto.com #128

Daily statistics update:

Today's market is red. BTC is now trading above $18,800, ETH is trading around $1,300.

💪 Bitcoin dominance: 40.92%

📉 Total Cryptocurrency Market Cap: $ 0.877 tr

😲 Fear and greed index: 21 (Extreme Fear)

🚀 Gainers (Top-100)

• Helium (HNT)+3.22%

• Algorand (ALGO)+0.36%

• Pax Dollar (USDP)+0.16%

😭 Losers (Top-100)

• Ethereum Classic (ETC)-17.66%

• Curve DAO Token (CRV)-15.27%

• EOS (EOS)-14.43%

So where is he? South Korean prosecutors issued an arrest warrant for Do Kwon, the disgraced co-founder of the Terra ecosystem that crashed spectacularly in May; they also asked the finance ministry to void his passport. The authorities looking 🔍 for Kwon believed he was in Singapore, but on Saturday, Singapore police said Kwon is not there.

Kwon tweeted, 📲 "I am not 'on the run' or anything similar - for any government agency that has shown interest to communicate, we are in full cooperation and we don’t have anything to hide. We are in the process of defending ourselves in multiple jurisdictions - we have held ourselves to an extremely high bar of integrity, and look forward to clarifying the truth over the next few months."

Promising news. Ethereum engineering firm Infura is creating a Decentralized Infrastructure Network to launch sometime next year. The network’s working title is the “Decentralized Infrastructure Network.” According to a statement, this new network 🌐 will provide “millions of future users” access to Web3 products “without outages and downtime due to a single point of failure.” Infura's "Decentralized Infrastructure Network" will seek to do away with outages on Ethereum due to a "single point of failure."

The Ministry of Science and ICT (MSIT) of South Korea revealed plans to move away from imposing traditional video 📺 gaming laws on the Metaverse. Instead, the ministry decided to issue new guidelines for incentivizing the growth of the budding ecosystem.

Revealing the plan, a rough translation of the press release read: 💬 “Establish guidelines for classification of game products and metaverses for rational and consistent regulation and support for enactment of related laws (enactment of special metaverse laws, etc.)”. Interesting to see them bring it to life.

Yuga Labs has hired Spencer Tucker as its first Chief Gaming Officer, the company behind the Bored Ape Yacht Club NFT collection 📢 announced. At Yuga, Tucker will supervise the development of the firm’s Web3 gaming projects, starting with Yuga’s “Otherside” metaverse. Tucker comes from mobile gaming companies Scopely and GREE, where he worked as President of Games and Senior Vice President of Product, respectively. A good choice.

Not too bad of a budget addition. Sports Metaverse startup LootMogul secured a $200 💰 million investment commitment from Gem Global Yield, providing the company a share subscription facility of up to $200 million for a 36-month term following an equity exchange listing.

The company said that the funding is expected to boost the development of LootMogul's metaverse focused on sports games, including "building meta (virtual) sports cities around the world with real-world benefits, brands & professional athletes on a true cross metaverse & blockchain (multichain) platform on multiple devices such as Oculus, HoloLens, Web, Mobile & Console," 💭 explained the company in a statement.

At the direction of U.S. President Joe Biden, the Office of Science and Technology Policy (OSTP) submitted a report that analyzed design options for 18 central bank digital currency 🔐 (CBDC) systems for possible implementation in the United States. It was conducted in six broad categories - participants, governance, security, transactions, data and adjustments. OSTP foresees technical complexities and practical limitations in attempting to create a permission-free, central bank-managed system. A start is made.

How progressive. Binance announced that it has partnered with the Ukrainian supermarket chain VARUS, saying it will enable cryptocurrency 💸 payments for grocery purchases through its Binance Pay Wallet. The grocery store is one of the largest companies in Ukraine with over 111 stores across 28 cities in the country.

The companies have also announced a “reward fund promotion”, where customers who order anything from the VARUS Delivery program worth over UAH 500 and pay with Binance Pay, will be rewarded with UAH 100. A month ago, a Ukrainian POS and crypto 💱 payments company called Whitepay, rolled out a new program that enabled Ukrainians to purchase electronics and other products with cryptocurrency.

Conclusion: An unpredictable scenario surrounding the creator of Terra Luna. Do Kwon's confidence puts many crypto investors at ease. Digital technology, and in particular crypto-assets, is appearing more and more in people's households.

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.