Your Favorite Crypto Digest From TradeCrypto.com #177

Daily statistics update:

Today's market is red. BTC is trading above $16,450; ETH is below $1,200.

💪 Bitcoin dominance: 38.22%

📉 Total Crypto Market Cap: $826.90B

😲 Fear and greed index: 20 (Extreme Fear)

🚀 Gainers (Top-100)

• XRP (XRP) +7.95%

• Huobi Token (HT) +5.95%

• EOS (EOS) +5.14%

😭 Losers (Top-100)

• UNUS SED LEO (LEO) -8.28%

• Immutable X (IMX) -6.24%

• Synthetix (SNX) -5.92%

Let's applaud our heroes 🙌. Names of those committed to the industry recovery were revealed. CZ didn't make idle threads. Jump Crypto, Polygon Ventures, Aptos Labs, Animoca Brands, GSR, Kronos, and Brooker Group have brought $50M, with CZ's initial goal of $1M 💰. Those suffering from liquidity problems should be pleased with how fast things move. To add up, 150 companies are on the waitlist to join. The main question who will be saved? To be continued.

Self-custody is on fire 🔥. Cold wallet maker Ledger released a Crypto Life (CL) debit card. Naming is interesting. Those in the EU and UK can order a card and pay for groceries. The line is pretty long, though. But Ledger made it simple. With a debit card 💳, you're getting an app to self-manage your funds. Connect it to a cold wallet, pay for whatever with crypto, and voila, get the rewards—around 1% for paying with bitcoin, ether, and stables.

At least, that's what Singapore regulators think 👮‍♂️. A white-caller crime. Clouds have hung over the local crypto lender Hodlnaut since August. This month the police stated the firm's officials were exposed to unspecified tokens with no info on paper. Back in the day, they collapsed during and paused withdrawals cause of Terra LUNA 😵‍💫. These days, the firm's representative said that 25% of firms' assets are kept on centralized exchanges, of which 70% are now locked in FTX. Holdnaut is being hit hard.

Colin Wu blogger posted on Twitter that some crypto members can't get their money out of ICO and exchange CoinList for weeks. FUD😱 rose cause of the firm's exposure to belly-up 3AC of $35M. The firm denies the rumors that it has something to do with FTX collapse, citing current technical👨‍🔧 problems on the platform. Proof-of-reserves wasn't published, even though CoinList promised customers funds backed one-to-one. Well, if this is true, let's wish the firm good luck in solving all the problems ASAP.

Details on Solana Foundation's exposure to FTX just arrived. Roughly $1M on FTX, which is around 1% of Solana's cash reserves. More 🥲 in crypto assets, however. Solana also held 3.43M FTT and 134.54M SRM there. To top it off, Solana lost 3.24M shares on FTX common stock 📉. As for the firm's sentiment, they would be just fine. Although soBTC on Solana lost its peg to BTC due to FTX, which was supposed to back bitcoin, it actually had zero bitcoins in a balance sheet.

Conclusion: Turn to self-custody, my friends. Regulation is on fire, and suspicion is a part of crypto user's everyday life. Don't forget we made yet again a step towards transparency. Follow Binance's recovery fund story, and keep an eye on market chat, though it seems pretty flat at the moment, despite the FTX. Have a good weekend, and see you later.

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.