Your Favorite Crypto Digest From TradeCrypto.com #126

The statistics:

Market is red. BTC is now trading above $20,000, ETH is trading around $1,600

💪 Bitcoin dominance: 40.32%

📉 Total Cryptocurrency Market Cap: $ 0.950 tr

😲 Fear and greed index: 28 (Fear)

🚀 Gainers (Top-100)

• Celsius (CEL)+102.91%

• Compound (COMP)+9.19%

• UNUS SED LEO (LEO)+6.30%

😭 Losers (Top-100)

• TerraClassicUSD (USTC)-14.32%

• Terra Classiс (LUNC)-12.05%

• Helium (HNT)-9.13%

Despite attempts to secure fresh funding and pivot to new targets, NFT renting platform Rentable is today shuttering ❌ operations. The founder of Rentable, the non-fungible token (NFT) protocol that lets users rent out their jpegs, announced today that the protocol will be shutting down after failing to find “product market fit.”

While withdrawals are still possible, rentals are now disabled, and users have until October 13 to finish withdrawals. After that date, the protocol will launch emergency withdrawals and send 💸 the tokens to their respective owners. Oops, another closure.

Following an ongoing investigation into the collapse of the Terra ecosystem, a court in Seoul issued an arrest warrant for Do Kwon, the CEO, and founder of TerraForm Labs. The warrant 📑 was reportedly issued in relation to a violation of capital market rules and targets five more individuals who are currently residing in Singapore. Despite the widespread investigation of the Terra collapse, Kwon denied allegations that the project was a “fraud.” Bad news for him.

South Korea’s “blockchain” city of Busan continues to establish agreements 🤝 with cryptocurrency industry heavyweights as Huobi Global enters the development ecosystem. Huobi Global became the latest exchange to sign a memorandum of understanding with the Busan Metropolitan City government to participate in the growth of its blockchain industry.

According to an official announcement from Huobi, the partnership will see the company provide research and development, technology and financial support for the Busan Digital Currency 💱 Exchange. Huobi is also set to assist in identifying and hiring blockchain talent for Busan’s local exchange. Wow, that's cool.

The United States Treasury Department’s Office of Foreign Asset Control has added 10 individuals, 2 entities, and several crypto addresses allegedly tied to an Iranian ransomware group to its list of Specially Designated Nationals, effectively making it illegal for U.S. persons and companies to engage with them. The Office of Foreign Asset Control sanctioned 🤐 7 Bitcoin addresses allegedly connected to Iranian nationals Ahmad Khatibi Aghada and Amir Hossein Nikaeed Ravar. Nice work.

An unexpected exchange. The William S. Paley Foundation will auction off at least $70 💰 million in art masterpieces this fall to expand the digital footprint of the Museum of Modern Art (MoMA) in New York and possibly acquire the museum’s first NFTs.

Paley’s namesake foundation, which holds endowment funds for museums and educational and cultural programs, has enlisted Sotheby’s ⚖️ to auction 29 of the MoMA collection’s 81 pieces. Works by Picasso, Bacon, Rousseau and Renoir will be auctioned off to expand the museum’s digital presence, including the possible purchase of NFTs.

Binance’s smart contract blockchain platform BNB Chain has partnered with Google Cloud to bolster Web3 and blockchain startups. Startups that are currently building products and services on the BNB Chain blockchain will also be able to build on Google Cloud’s 🌐 scalable, secure and open source infrastructure. These projects will also be able to make use of Google Cloud for data encryption and on-demand analysis of on-chain data in real-time. A cool partnership, no doubt.

According to a new product catalog posted on Wednesday, electronic vehicle manufacturer Tesla is rolling out a new Cyberwhistle inspired by its futuristic Cybertruck series. Tesla requires buyers to pay 💸 only in Dogecoin (DOGE). The price tag is 1,000 DOGE or around $60. Taxes and shipping are included in the DOGE price.

The firm wrote: 💬 "Inspired by Cybertruck, the limited-edition Cyberwhistle is a premium collectible made from medical-grade stainless steel with a polished finish. The whistle includes an integrated attachment feature for added versatility.". Seriously, a whistle?

Conclusion: All people who said that no one is responsible for crypto scams can now take their words back. The scandal, which is considered to be the main event in crypto in 2022, may have a logical conclusion. CEOs of major projects are surely stressed.

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.