🏓 New FUD about Binance
Hey people. Today's digest is fun. 3AC all in karma, DCG all in debt, Binance all in "4". BAYC is a fallen angel, BlackRock is rising with hard muscles. You won't want to miss this.
Weekly Digest From TradeCrypto.com #21
Daily statistics update:
Today's market is red. BTC is trading at $30,138; ETH is at $1,855.
💪 Bitcoin dominance: 49.94%
📉 Total Crypto Market Cap: $1.17T
😲 Fear and greed index: 55 (Greed)
🚀 7d Gainers (Top-100)
• Maker (MKR) +40.00%
• BitDAO (BIT) +19.70%
• Flow (FLOW) +16.40%
😭 7d Losers (Top-100)
• ApeCoin (APE) -16.80%
• Fantom (FTM) -12.57%
• Synthetix (SNX) -10.02%
🔮 Doom Cat: Will Gary Gensler get fired?
3AC founders to clean karma
Arthur Hayes gasped when he heard this. Kyle Davies said in one of the Twitter spaces that they'll donate "future savings" to creditors who lost money last year. In the spirit of karma. 😬That's right, the same guys who have long ignored the bankruptcy trustees actually believe in karma and are now planning a "shadow recovery plan." We can confidently point out that he mentioned in his speech that this plan calls for "donating" money over time. Not now. Maybe that's "karma" in Kyle's eyes.👽
Gemini points finger at Silbert
Our favorite story. Nothing has changed since Gemini, Genesis, and DCG were under our active watch. Cameron Winklevoss is still writing letters to Barry Silbert 😑 complaining about delays in repayments to Earn customers. He also complains that Barry owes Genesis and that he hasn't provided a plan for repayment to Genesis customers. In the letter, Winklevoss stated that DCG and Silbert could be dragged into court if Barry doesn't agree to "this deal" before the deadline (which was July 3). So what do you think? Nothing happened. Cameron also invited Barry to discuss the plan on the Twitter spaces, without lawyers, etc. He probably won't respond again. 🤡
BAYC sinks to 20-month low
Not that they did anything wrong. 🥱The large-scale trend of declining interest in NFTs is evident. Other collections such as MoonBirds, Azuki, and Doodles are also declining. According to CoinGecko, the BAYC floor price fell to 27.4 ETH, about $53,000. Last time BAYC's floor price was below 30 ETH was in October 2021, just before the price soared to new record highs during the NFT craze. You asked who bought BAYC at the time of the NFT craze? Justin Bieber. But we're sure BAYC is planning to hit new highs again. 🤑
Blackrock and Co. refile ETF applications
SEC found applications "inadequate" 🤒 last week because many of them hadn't filled in the name of the partner in bitcoin spot ETFs. Blackrock and others refiled naming Coinbase as one. As strange as this decision may seem from the outside, given that the SEC is investigating Coinbase's "crimes," there is actually nothing strange about it. Coinbase represents up to 56% of dollar-to-bitcoin trading on US platforms this year. What will SEC say this time? 🤔
Another FUD about Binance
New day, new FUD about Binance. Binance's Chief Strategy Officer, Senior Vice President of Compliance and General Counsel have left the company. CZ says "4" in his Twitter, as usual.😎 Yes, there are employee departures (as in any other company). But the reasons given in the news are completely false. They continue to BUILD and continue to hire. Again, we admire Binance's stand before the face of the apparent failure of PR.
Conclusion: Same old same gold. Despite the fruitful week of events, it feels like a broken record. Really sorry for Gemini, and we're inspired by Binance's high posture. BTC is holding at 30-31 and has even broken its correlation with U.S. stocks. Amid the ETF craze, crypto market trading volumes rose for the first time in 3 months. Still, everything is a bit boring. However, this only means that we'll soon feel an urgent change in sentiment.
See you next week, folks! Thanks for being with us. Brought to you by Yana and Aleksandar :)
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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