๐Ÿ“ Ledger introduces new crypto debit card

Howdy. Exhaling before the weekend, take advantage of today's selection. Heroes of Binance's industry recovery plan, Ledger's new feature, and some FTX collapse-related details with FUD and regulation on top.

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.

๐Ÿ’ช Bitcoin dominance: 38.22%

๐Ÿ“‰ Total Crypto Market Cap: $826.90B

๐Ÿ˜ฒ Fear and greed index: 20 (Extreme Fear)

๐Ÿš€ Gainers (Top-100)

โ€ข XRP (XRP) +7.95%

โ€ข Huobi Token (HT) +5.95%

โ€ข EOS (EOS) +5.14%

๐Ÿ˜ญ Losers (Top-100)

โ€ข UNUS SED LEO (LEO) -8.28%

โ€ข Immutable X (IMX) -6.24%

โ€ข Synthetix (SNX) -5.92%

Binance recovery fund enrollees

Let's applaud our heroes ๐Ÿ™Œ. 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 ๐Ÿ’ฐ. 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.

Ledger brings a debit card

Self-custody is on fire ๐Ÿ”ฅ. 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 ๐Ÿ’ณ, 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 rewardsโ€”around 1% for paying with bitcoin, ether, and stables.

Hodlnaut may be the next fraud

At least, that's what Singapore regulators think ๐Ÿ‘ฎโ€โ™‚๏ธ. 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 ๐Ÿ˜ตโ€๐Ÿ’ซ. 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.

Technical issues on CoinList

Colin Wu blogger posted on Twitter that some crypto members can't get their money out of ICO and exchange CoinList for weeks. FUD๐Ÿ˜ฑ 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 technical๐Ÿ‘จโ€๐Ÿ”ง 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.

Solana lost over $180M to FTX

Details on Solana Foundation's exposure to FTX just arrived. Roughly $1M on FTX, which is around 1% of Solana's cash reserves. More ๐Ÿฅฒ 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 ๐Ÿ“‰. 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.

See you tomorrow, folks! Thanks for being with us.Brought to you by Maksym, Yana, and Aleksandar :)

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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 donโ€™t really shut up about it. Ever.

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