Your Favorite Crypto Digest From TradeCrypto.com #116

The statistics:

Market is red. BTC is now trading above $20,000, ETH is trading around $1,550

💪 Bitcoin dominance: 40.18%

📉 Total Cryptocurrency Market Cap: $ 0.956 tr

😲 Fear and greed index: 20 (Extreme Fear)

🚀 Gainers (Top-100)

• TerraClassicUSD (USTC)+30.12%

• eCash (XEC)+7.85%

• UNUS SED LEO (LEO)+6.00%

😭 Losers (Top-100)

• Helium (HNT)-9.67%

• Maker (MKR)-7.32%

• Convex Finance (CVX)-5.01%

He sure isn't happy now. A U.K. Judge on Tuesday ordered OneCoin associate, Christopher Hamilton, to be extradited 🚨 to the United States to face charges of money laundering and wire fraud stemming from the OneCoin scam.

Hamilton is accused of laundering $105 million of the $4 billion allegedly stolen 💸 from investors in the massive OneCoin scam headed by the so-called "Cryptoqueen," Ruja Ignatova, who has been on the run from authorities since 2017.

It's interesting to learn what he disliked so much. Paraguay’s president, Mario Abdo Benítez, vetoed ⛔️ a bill that would have regulated various digital asset activities, including the commercialization of crypto mining in the country. “The Executive Branch objects to the bill that seeks to regulate crypto mining in the country,” 📲 the president’s official account tweeted.

An unexpected subject of the new trial. Washington, DC, Attorney General Karl Racine today announced that he is filing civil charges ⚖️ against cloud computing software company MicroStrategy and its founder Michael Saylor over alleged tax fraud.

MicroStrategy, which holds the largest Bitcoin treasury among public companies, has helped Saylor 💬 "evade taxes he legally owes on hundreds of millions of dollars he’s earned while living in DC," Racine tweeted today. Saylor allegedly claimed that he was a Florida resident—a state without income taxes—but was actually present in DC most of the year, and openly bragged about the scheme.

What kind of manipulation? Twitter suspended access to nine accounts associated with promoting nonfungible tokens, or NFTs, on the Solana (SOL) ecosystem 🌐. The move comes just ahead of the highly anticipated launch of the y00ts NFT collection, a follow-up to DeGods, the most popular NFT collection on Solana. The said accounts have been reinstated and are accessible as of 12:00 pm EST. No official explanation ❌ was given as to why the accounts were suspended in the first place, or why they were reinstated shortly afterward.

This could have been a fine replacement for Gazprom. Namely, Crypto.com has pulled out of a massive sponsorship deal 🤝 with the European Champions League (UEFA) at the "last moment" earlier this summer. Prior to negotiations with Crypto.com, UEFA had been sponsored by Russian natural gas company Gazprom—a deal the league canceled in March following Russia’s invasion of Ukraine.

The deal was reportedly going to run for five seasons and would have cost the crypto exchange 💱 roughly 100 million euros per season, or $99 million a year, making the now-lost overall deal worth a hefty $495 million.

It's a solid fresh start. Proof aims to debut a token and new Moonbirds collection next year, plus it revealed a sizable Series A round led by Andreessen Horowitz. Web3 startup Proof has raised 💰 $50 million in Series A funding. The firm also revealed plans for a token and a new Moonbirds NFT project, along with other new initiatives.

Authorities with South Korea’s customs service have reportedly arrested 16 people involved in illegal foreign exchange transactions connected to crypto assets worth roughly $2 billion. Since February, the Korea Customs Service’s investigation reportedly discovered 🔎 more than 2.7 trillion won — roughly $2 billion — tied to transactions with domestic and foreign crypto exchanges.

On Aug. 18, South Korea’s Financial Intelligence Unit cracked down on 16 virtual asset service providers in the country, including KuCoin, Poloniex and Phemex. The regulatory authority alleged the exchanges 💱 had engaged in business activities without registering and said it would potentially impose fines and prison time accordingly. Ugh, the hunt goes on.

Conclusion: Crypto.com is investing in soccer again. Despite not being the highest in the market, their budgets are surprising. Mr. Saylor and MicroStrategy are in the spotlight again and this time there are lawsuits awaiting them. At the same time, the market is in a flat state.

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.