Weekly Digest From TradeCrypto.com #31

Daily statistics update:

Today's market is red. BTC is trading at $26,606; ETH is at $1,591.

💪 Bitcoin dominance: 49.21%

📉 Total Crypto Market Cap: $1.05T

😲 Fear and greed index: 43 (Fear)

🚀 7d Gainers (Top-100)

• Immutable (IMX) +34.10%

• Toncoin (TON) +20.58%

• Aave (AAVE) +16.11%

 😭 7d Losers (Top-100)

• IOTA (MIOTA) -11.29%

• Klaytn (KLAY) -8.52%

• Gala (GALA) -8.13%

SEC has long accused Binance of refusing to cooperate with investigations.😎The regulator stressed that Binance.US's BAM Trading had provided only provided 220 docs as part of the disclosure process. However, most of these docs are screenshots and documents without dates or sigs. SEC added that BAM refused to call key witnesses and instead interviewed only four witnesses of its choice. 🥶

Then SEC wanted to force Binance.US to show what’s under the rug. But the court has so far denied SEC access to Binance.US's software because it found the regulator's arguments unconvincing.🤬 Nevertheless, the court asked the exchange to better cooperate with the investigation and gave SEC the opportunity to present new arguments for the need to disclose the data 🧐

SEC will not stop at Coinbase and Binance. It plans to file new lawsuits against other cryptocurrency exchanges and DeFi projects that violate securities laws. This is what SEC's chief David Hirsch said. 📢

According to Hirsch, SEC is already investigating several crypto companies that failed to register with the regulator or adequately inform investors about their activities and risks.🤡 These may not only be exchanges, but also brokers, dealers, clearinghouses or other market participants.

✋🏻 One hand: SEC, just calm down. We know you have the power. Everyone is in danger. Obey.

🤚 Other hand: Why stop? Pretty expected move. If you’re against a public company, why not against smaller companies?

Grayscale has applied to the SEС to launch an exchange-traded fund (ETF) that will track the price of Ethereum via futures contracts traded on the Chicago Mercantile Exchange (CME). 🤔

If the SEC approves the application, the Grayscale Ethereum Futures Trust will be the first Ethereum ETF in the United States. Futures ETFs are somewhat easier to file than spot ETFs because they avoid some of the regulatory hurdles associated with holding and transferring digital assets. 🥹

📈 📉 In the meantime, traders are like: what to do, short or long?

Stanford University has decided to return donations received from FTX. $5.5 million was transferred to the University by Sam Bankman-Fried's father.😎

As it happened, FTX filed a lawsuit against SBF's parents. 🤡 The exchange's current management accuses them of misappropriating customer funds. Specifically, the lawsuit seeks $5.5 million that Joseph Bankman transferred to the University in donations between November 2021 and May 2022.

Conclusion: It seems that the message shrinks several players. Bored? Don’t be, because new battles against DeFi are coming up. How do you trade and what should be your support system - a tough question. The f&g index is slowly getting smaller. Stay informed and don’t get caught up in the hysteria.

What is Crypto Ping Pong digest?

We work pretty hard, and from time to time we need to relax. Recently we got a ping pong table to complete our chill zone. As you all know, our biggest hobby is crypto, and even when we play, we don’t shut up about it. Ever.

So memes, leaks, and gossip happen – we collect them and share them with you. We like to call Crypto Ping Pong digest.