Your Favorite Crypto Digest From TradeCrypto.com #95

The statistics:

Market is in the sidebar, some of the alts are green, some are red. BTC is now trading above $22,800, ETH is trading around $1,600.

💪 Bitcoin dominance: 42.17%

📉 Total Cryptocurrency Market Cap: $ 1.038 tr

😲 Fear and greed index: 34 (Fear)

🚀 Gainers(Top-100)

• Lido DAO (LDO)+18.04%

• Optimism (OP)+16.61%

• ApeCoin (APE)+12.84%

  😭 Losers(Top-100)

• Theta Network (THETA)-4.50%

• Solana (SOL)-4.30%

• Hedera (HBAR)-3.96%

Cloud software company MicroStrategy today announced 🔉 that Michael Saylor, a Bitcoin advocate who has served as the company's chief executive officer since 1989, will step down as CEO and transition to a new role of executive chairman.

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Saylor will stay on as executive chairman and says the move will allow him to double 🎯 down on the company's "Bitcoin acquisition strategy." This is what it means to be loyal to bitcoin.

Whoops, another showdown. The New York Department of Financial Services has fined 💸 Robinhood Crypto $30 million for multiple regulatory violations. The department concluded after an investigation that the company had failed to maintain proper cybersecurity measures or satisfy anti-money laundering obligations. 

Working ahead of the game. Binance's U.S. subsidiary announced that it will shutter ❌ trading for Flexa’s AMP token after the U.S. Securities and Exchange Commission (SEC) identified the asset as security.

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“We operate in a rapidly evolving industry and our listing and delisting processes are designed to be responsive to market and regulatory developments,” Binance US said in a blog post 📲 on Monday. The exchange said it is delisting AMP “out of an abundance of caution” effective August 15, adding it is “taking this step now until more clarity exists around the classification” of the token.

North Korean cybercriminals are targeting jobs listed on LinkedIn, intending to plagiarize resumes 📑 and other people’s profiles to land remote work at crypto firms. The objective is to access these firms’ internal operations and gather intelligence about upcoming trends, including those related to the Ethereum network development, non-fungible tokens (NFTs), and potential security lapses. And there's nowhere to hide from them.

What a painful amount. CoinShares explained that the losses 📉  were largely tied to its exposure to the Terra (LUNA) — now called Terra Classic (LUNC) — ecosystem, which collapsed in May of this year:

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"While our Asset Management business continued to generate solid profit, the Capital Markets business experienced a one-off loss of £17.7 million 💸  following the de-pegging of Terra Luna. The financial impact of this episode, despite being relatively small when compared to the losses incurred by other players in our industry, had a material impact on our quarter."

How will they do without him? Steve Cohen, the founder of hedge fund Point72 Asset Management, has reportedly exited his investment 💸 in the crypto trading firm, Radkl. Cohen has reduced his exposure to crypto investments following his exiting the trading firm. However, the spokesperson reportedly said Radkl was still “extremely well capitalized with its current investors” and was continuing to grow.

Another Kardashian show. Kim Kardashian’s lawyers filed 🖍  a joint motion to dismiss the class-action complaint against the American businesswoman for promoting an alleged “pump and dump” crypto token.

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Kardashian and a handful of other prominent American social media influencers 👥 were served with a class-action complaint in January 2022 over claims they misled investors through the social media promotion of a cryptocurrency called EthereumMax (EMAX).

Conclusion: Everyone is discussing Michael Saylor's departure. In fact, he has simply changed his position, which will not make the current situation any worse, it might even make it stronger. Who knows, maybe MicroStrategies also sold their Bitcoin like Tesla and we will read about it in the reports soon. If that turns out to be the case, then there will be a lot of questions for Mr Saylor.

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.