Your Favorite Crypto Digest From TradeCrypto.com #151

The statistics:

Market is red. BTC is now trading above $19,100, ETH is trading around $1,250

💪 Bitcoin dominance: 41.85%

📉 Total Cryptocurrency Market Cap: $ 0.876 tr

😲 Fear and greed index: 23 (Extreme Fear)

🚀 Gainers (Top-100)

• TerraClassicUSD (USTC)+13.15%

• Chain (XCN)+10.97%

• Huobi Token (HT)+4.70%

😭 Losers (Top-100)

• Axie Infinity (AXS)-6.09%

• OKB (OKB)-5.62%

• Casper (CSPR)-5.20%

Really? Despite the bear market and Twitter battle, Tesla remains one of the largest corporate holders 🔐 of Bitcoin. Tesla's Bitcoin holdings remain unchanged from the second quarter of 2022, according to documents released by the electric car manufacturer ahead of its third-quarter investor relations call.

In Tesla's report released to the public, the company says it still holds $218 million in Bitcoin. In July, Tesla announced 📢 that it sold 75% of its Bitcoin holdings, around $936 million at the time. After the sale, Tesla reported it continued to hold $222 million worth of "digital assets" on its balance sheet as of the end of June.

Good support. Coinbase joins Grayscale in claiming that the SEC is failing to give spot market Bitcoin ETFs fair consideration. 💬 “Both spot and future [exchange-traded products], whether tied to Bitcoin or other commodities like gold, platinum, or palladium, create the same investment exposure for investors,” argued the exchange. “Both products are designed to track the price of the underlying commodity, Bitcoin.”

The struggle has begun. The United States today announced the takedown ❌ of a Russian-Venezuelan network that used Tether (USDT) to trade outside the traditional banking structure, thus evading international sanctions.

According to a press release, the U.S. Attorney's Office for the Eastern District of New York filed 12 charges against Russian nationals and Venezuelans. According to the Justice Department, the guilty parties facilitated the trade 💸 of hundreds of millions of barrels of oil, which were subsequently shipped to Russian and Chinese buyers. Meanwhile, others are accused of smuggling military technology to Russia in violation of US interests.

JPMorgan CEO Jamie Dimon may be calling cryptocurrencies like Bitcoin “decentralized Ponzi schemes,” but this hasn’t stop the world’s largest investment bank from hiring a new head of digital assets regulatory policy. Aaron Iovine, who held a similar position at the now-bankrupt crypto lending firm Celsius, joined JPMorgan. Iovine’s LinkedIn 📲 profile says he worked at Celsius between February and September this year, following an almost three-year spell at Cross River. Unexpected promotion.

Amazing progress. The Financial Sector Conduct Authority (FSCA), South Africa’s financial regulator, published a notice 📃 indicating that the country’s 2002 Financial Advisory and Financial Intermediary Services Act (FAIS) has been updated to include a definition of crypto assets.

The FSCA notice, which went into force on publication in the Green Gazette (the government gazette of record), states that a crypto asset is “a digital representation of value” that can be electronically traded, transferred 🔀 and stored but is not issued by a central bank. Additionally, it “applies cryptographic techniques” and uses distributed ledger technology. The notice goes on to state that crypto assets are declared financial products.

Members of a 4,400-strong Discord group called the UST Restitution Group (URG) have been attempting to track down the whereabouts of Terra co-founder Do Kwon. Members of the group, seemingly out of frustration at the lack of results from law enforcement agencies, are scouring 🔍 the internet for clues and sharing them with the group in an attempt to track down Kwon. Members have suggested that he could be residing in places such as Russia, Dubai, Azerbaijan or even on a yacht. Maybe they'll get lucky?

It's a big step for them. The Israeli Ministry of Finance, together with the Tel Aviv Stock Exchange 💱 (TASE), digital assets custody provider Fireblock and the United States software solutions developer VMware, will conduct the testing of a blockchain-backed platform for digital bonds trading. These bonds will be issued by the Ministry of Finance.

Coming under the name Eden, the new project is intended to reduce costs and optimize the procedure of national bonds issuance. As the accountant general, Yali Rothenberg, told the public: 💬 “I believe that blockchain-based technologies are here to stay, and over time will permeate the core of the financial markets, thoroughly and deeply altering them. It is our duty to constantly examine new technologies and methodologies.”

Conclusion: We all remember the news about Tesla parting with crypto-assets. But it hasn't. They continue to be holders. Some may think they don't have a large amount in their portfolio. But its presence already indicates that some of the assets are still worth holding in crypto.

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.