What a week. Time in crypto definitely feels like it moves differently. The focus on the past week’s events have been primarily on the FTX/Alameda fallout for which I made a list of all the companies with their alleged FTX/Alameda exposure, as well as a running timeline of events. The full damage is probably pretty deep and we still don’t know the full extent of it. Besides that, there’s tons of business as usual. For those unaffected -they keep building, raising money and planning for the future. Just the way it goes.
News: Circle USDC adds support for Apple Pay, Cosmos community voted down ATOM 2.0 proposal, StarkNet Token deployed, LFG spent $2.8B defending UST peg, Tokensoft doxxed over 4000 users for sybilling airdrops, Chainlink Labs offers proof-of-reserve service, Ledger and Trezor huge spike in hardware wallet sales
Data: $830B total crypto market cap, DeFi TVL: $42.79B, Solana DeFi TVL down 66%, NFT sales - Ethereum: up 21.73% in sales, Solana: down 20.47% in sales, Polygon: up 91.82% in sales, Arbitrum: up 106.48% in sales, Smart Money Exchange Deposits: primarily sending ETH, PAXG, AAVE onto exchanges, Smart Money Exchange Withdrawals: taking stablecoins such as BUSD, USDC, USDT off of exchanges, Exchange Deposits: MKR, HFT, PROS, CRV in small amounts ranging from $10M to less than a mil, Exchange Withdrawals: Stablecoins and ETH were removed in the billions from exchanges
DeFi: Up to $3B of decline in USDC in circulation due to Binance BUSD autoconversion, Solana’s Serum forked, Solend liquidity mining rewards halted, Convex live on Arbitrum, Cardano stablecoin USDA coming early 2023, Umee launches Ojo Network for oracle services to Cosmos, Trust Wallet launches browser extension, Launch of MobyMask light client, Yearn x CoW Swap complex swaps, Yearn new bribe platform for Curve gauge voting
NFT/Metaverse/Gaming: Yuga Labs acquired Beeple’s NFT platform Wenew, Nike Web3 integration .SWOOSH, Sony PlayStation NFT patents, Cristiano Ronaldo partners with Binance to launch his first NFT collection, Yuga Labs to donate CryptoPunks NFTs to modern art museums, Binance to include OpenSea NFTs on Binance NFT Marketplace, 3LAU’s Royal debuts music NFT marketplace, SolChicks lost up to $20M of treasury funds during Luna crash, Chainlink launches NFT floor price feed service
Exchange: Crypto.com holds 20% of its reserves in the Shiba Inu, Crypto.com accidentally sent $400M in ETH to Gate exchange, Coinbase CEO sold more than $1.6M in shares, Bitget launches operations in Brazil
Economic/Government/Regulatory: EU considering a ban to prevent banks and crypto providers from dealing with privacy coins, El Salvador to purchase one Bitcoin every day, New York Fed and private banks developing a DLT-based digital dollar pilot, SEC delays decision on ARK 21Shares spot Bitcoin ETF, South Korean authorities raid Terraform Labs co-founder Daniel Shin’s company, Bitmex's former head of business development may receive 12 months of probation, Silvergate Bank found to have $425M in transfers to South American money launderers, Australian Securities Exchange shelved its 7 year blockchain project and writes off $170M, Wells Fargo and HSBC blockchain system for settling forex transactions to include the offshore yuan
- Time moves differently in crypto. Crypto is an intricate game filled with various players operating across multiple time frames and with varying agendas. Day in, day out, the pieces are moving all across the board. Sometimes for the better and sometimes for the worse. The following is a look at the crypto landscape during the past week covering various sectors. Use these events like clues - let it tell you the larger overarching story of crypto -
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List of companies with their reported exposure:
The Unscathed: those with relatively little to no damage
Tether CTO Paolo Ardoino says they had no exposure to FTX/Alameda
Circle CEO Jeremy Allaire says they don’t have any material exposure. Only ~ $10.6M
Coinbase CEO Brian Armstrong says they had no material exposure to FTX or FTT
Kraken had no exposure to Alameda Research - only holds ~ 9,000 FTT
Solana Labs, a US corp, didn’t have any assets on FTX
Solana Foundation had less than 1% of cash or cash equivalent FTX exposure - impact negligible
Nexo currently has net zero exposure to FTX and Alameda Research
El Salvador's president Nayib Bukele denies country had any funds on FTX
Electric Capital unaffected by FTX - only $125K stuck on exchange
CoinList had no material exposure to FTX, FTT, Alameda or any credit exposure to FTX
Celestia project treasury unaffected. FTX invested into Celestia’s most recent fundraising round
Crypto options exchange Deribit did not have any "large and risky" positions with FTX/Alameda
Grayscale products are operating "business as usual" and operations have not been impacted
Crypto lender Ledn has no exposure to Genesis and is fully operational
Paxos customer assets not impacted by FTX/Alameda
The Fortune Favored: those in a position to come out better than before
LayerZero structured an agreement and bought out FTX, FTX Ventures and Alameda Research from all equity positions, token warrants and all other agreements between the parties
Market maker B2C2 offered to purchase loans from Genesis
The Gravely Injured: those seriously impacted
Crypto lender BlockFi considering filing for Chapter 11 bankruptcy protection and job cuts
Lending arm of Genesis temporarily suspending redemptions and new loan originations
Solana DeFi TVL falls from ~ $55B to ~ $43B due to FTX fallout
Solana-based gaming metaverse Star Atlas saw its cash runway cut in half
Multicoin Capital lost more than half of its flagship fund’s capital in about two weeks
Galois Capital has $100M stuck on FTX. About 50% of total holdings
Crypto lending platform Salt halted withdrawals and deposits due to FTX collapse
DeFi prime brokerage service Oxygen had FTX act as custodian for over 95% of coin supply
Liquid Exchange, acquired by FTX, will stop withdrawals due to the Chapter 11 filing by FTX
Hedge fund Ikigai Asset Management had a "large majority" of its assets on FTX
Wrapped tokens on Solana no longer redeemable after FTX/Alameda bankruptcy
Bahamas-based subsidiary FTX Digital Markets filed for Chapter 15 bankruptcy protection
Solana NFT protocol maker Metaplex suffering from reputational damage spreading to Solana
Genesis Block, one of Asia's biggest BTC ATM network operators, to suspend trading
The Casualties: those who got hurt but can keep on kicking
Between 25% and 40% of crypto hedge funds had some level of direct exposure to FTX or FTT
Paradigm marks down FTX investment to zero ~ $290M - only a small part of its total assets
Jump Crypto’s exposure to FTX was managed and remains well capitalized
Genesis Global Trading temporarily suspending redemptions and new loan originations
Genesis ~$175M stuck on FTX & received $140M equity infusion from parent company DCG
Pantera Capital had limited exposure to FTX - mainly as a shareholder through Blockfolio
Crypto trading firm Cumberland says it had virtually no exposure to FTX - less than $10M
Sequoia FTX investment now worthless ~ $213.5M in losses but fund is still in good shape
Multicoin Capital has 10% of fund's AUM stuck on FTX
Bank of America, Circle, JPMorgan Chase Bank, Wells Fargo, Silvergate Bank exposed
Multicoin Capital's third VC fund has exposure of more than $25M to FTX
Animoca Brands had 'limited' FTX exposure
Bankrupt crypto lender Celsius Network had $12M in outstanding loans to Alameda Research
Gemini Earn unable to meet customer redemptions due to Genesis unit pausing withdrawals
Singapore's Temasek International is writing off its $275M FTX investment
Galaxy Digital had $76.8M exposure to FTX
SoftBank Group Corp. is expecting a loss of $100M on its investment
Crypto.com CEO claims FTX exposure was limited to $10M
Celsius had 3.5M Serum tokens on FTX as well as $13M in loans to Alameda
Mechanism Capital assets stuck on FTX. Says amount is non-trivial and exploring legal options
Wintermute has funds stuck on FTX but within its risk tolerances
GSR will cover client losses from FTX collapse
Hodlnaut held assets worth $13.1M on FTX
Tom Brady, Gisele Bundchen, Steph Curry, Larry David class action lawsuit for FTX promo
Avalanche founder says they had very little exposure to FTX
Amber Group had no exposure to Alameda or FTT but 10% of capital on FTX
Stripe, Deloitte, Sullivan & Cromwell affected
Crypto trading shop Folkvang has some assets on FTX but is highly liquid and solvent
Crypto services provider Matrixport affected but faces no risks of insolvency
Crypto lender Voyager reopened the bidding process for its assets after the bankruptcy of FTX
Hbit Limited has $18.1M stuck on FTX. $14M loan from ex-Huobi CEO to cover client funds
Sino Global Capital had mid-seven figures in assets held in custody on FTX
Nigerian crypto startup Nestcoin’s operational funds stuck on FTX
Analytics firm Chainalysis is owed money in the FTX bankruptcy proceedings
Troubled Asian crypto lender Vauld has about $10M stuck on FTX
Circle Yield had Genesis as a counterparty with $2.6M in customer loans outstanding
Uruguayan payments unicorn DLocal has $5.6M on FTX - exposure to crypto is minimal
Nickel Digital Asset Management has ~ $12M stuck on FTX - about 6% of its $200M AUM
FTX Timeline of Events: Week 2
Monday November 14th & Weekend Summary:
FTX & FTX.US declares bankruptcy & FTX.US halts withdrawals
Missing funds range between $10B - $50B
Galois Capital has $100M stuck on FTX. 50% of total holdings
FTX exploited (~ $450M) funds moved to drainer wallet
White hack rescue (~ $200 M)
FTX app, website potentially updated with possible malware/trojans. Recommend to delete
FTX drainer wallet begins swapping PAXG for ETH
Minimum $1B of client funds missing
Alameda & FTX executives allegedly aware FTX was using customer funds
FTX wallet drainer moving funds on BSC
FTX only had $900M in liquid assets backing $9B in debt
CZ says he will be more critical of industry rivals going forward
FTX wasn’t allowed to reopen local withdrawals by Bahamas securities regulator
Crypto.com accidentally sent $400M (80% of ETH reserves) to Gate exchange on Oct. 21
Miami to remove FTX name from iconic downtown stadium
SBF built a "backdoor" to his FTX exchange in an effort to change financial records and move funds without alerting others
Solana-based gaming metaverse Star Atlas saw its cash runway cut in half after the collapse of FTX
Hedge fund Galois capital has almost half of its funds stuck on FTX
F1 team Mercedes-AMG Petronas suspended its sponsorship deal with crypto exchange FTX
Animoca Brands reveals 'limited' FTX exposure
Celsius revealed it has 3.5M Serum tokens on FTX as well as $13M in loans to Alameda
Crypto lender Voyager reopened the bidding process for its assets after the bankruptcy of FTX
Crypto exchange Crypto.com holds 20% of its reserves in the Shiba Inu token
Crypto.com accidentally sent $400M in ETH to Gate exchange
Wrapped tokens on Solana no longer redeemable after FTX/Alameda bankruptcy
Jump Crypto’s exposure to FTX was managed and remains well capitalized
Paradigm marks down FTX investment to zero
Huobi revealed holdings of $3.5B in hot and cold wallets for the sake of transparency
Kraken froze accounts owned by FTX/Alameda and claims to maintain full reserves
FTX had 192M FTX tokens (~$400M) minted by its deployer contract
Binance halted FTT deposits as the new tokens mysteriously flooded the market
GameStop to end its relationship and its pilot gift card marketing partnership with FTX.US
Binance to launch an industry recovery fund to help crypto projects facing liquidity crunches
Tron founder Justin Sun and investor Simon Dixon to support the initiative
Crypto.com CEO claims FTX exposure was limited to $10M
Crypto exchange AAX suspended withdrawals and denied rumors its due to the fallout of FTX
Chiliz allocates 38M CHZ to compensate individual users unable to withdraw CHZ on FTX
Visa terminates global debit card agreements with FTX
Japan has asked FTX Japan to cease operations by December 9, 2022
Singapore was the 2nd largest source of FTX users but FTX was not licensed to operate
Users are fleeing exchanges and turning to non-custodial wallets amid FTX’s collapse
Binance shutting down FTT trading except with BUSD and closing off FTT shorting ability
Hbit Limited has $18.1M stuck on FTX. $14M loan from ex-Huobi CEO to cover client funds
Binance US, Coinbase, and Curve in a bidding war for BlockFi's credit card customers
OKX SRM/USDT Perpetual Swap will be delisted
Binance will cooperate with Vitalik to launch a new platform reserve proof method
Kraken, Coinbase and Gate.io publish proof of reserves with liabilities
Multicoin Capital's third VC fund has exposure of more than $25M to FTX
U.S. federal law enforcement ordered Paxos to freeze $19M tied to the bankrupt FTX
Hedge fund Ikigai Asset Management had a "large majority" of its assets on FTX
Tuesday, November 15th
FTX owes totaling close to $9.0B outstanding
Alameda CEO said Alameda used FTX customer funds to make payments after market crash
SBF gives interview to the NY Times - says he’s been getting sleep and playing video games
FTX hacker swapped DAI for ETH - now the 36th largest holder of ETH
FTX hacker potentially doxxed by using KYC’d Kraken account to send TRX for gas fees
FTX may have more than one million creditors
Gate was hacked by North Korean hackers on April 1, 2018 for $230M without disclosing
Nansen released an overview of exchanges’ on-chain asset holdings and portfolios
Between 25% and 40% of crypto hedge funds had some level of direct exposure to FTX or FTT
OKX announced $100M to support projects with liquidity issues and to migrate from Solana
FTX’s new CEO all-hands meeting - plans to reorganize and seeks support from staff
Alameda Research may have frontrun FTX listings
Sino Global Capital revealed that mid-seven figures in assets held in custody on FTX
NBA team The Golden State Warriors ending its $10M sponsorship agreement with FTX
Turkish law enforcement investigating FTX's local arm
Liquid Exchange, acquired by FTX, will stop withdrawals due to the Chapter 11 filing by FTX
Electric Capital unaffected by FTX - only $125K stuck on exchange
Celestia project treasury unaffected. FTX invested into Celestia’s most recent fundraising round
Approved provisional liquidators to oversee FTX Digital Markets Ltd.’s assets
Binance, BitMEX and KuCoin have delisted FTX Token pairs
Nigerian crypto startup Nestcoin’s operational funds stuck on FTX
Crypto lending platform Salt has halted withdrawals and deposits due to FTX collapse
Wednesday, November 16th
US reportedly considering SBF extradition for questioning
SBF sued in U.S. court for yield-bearing crypto accounts which allegedly violated Florida law
The U.S. House Financial Services Committee will hold a hearing into FTX next month
BlockFi considering filing for Chapter 11 bankruptcy protection and preparing for job cuts
Lending arm of Genesis is temporarily suspending redemptions and new loan originations
Gemini Earn unable to meet customer redemptions due to Genesis unit pausing withdrawals
Crypto exchange Gemini reports broad outage, says client funds secure
Grayscale products are operating "business as usual" and operations have not been impacted
Crypto lender Ledn has no exposure to Genesis and is fully operational
Market maker B2C2 offered to purchase loans from Genesis
Bahamas-based subsidiary FTX Digital Markets filed for Chapter 15 bankruptcy protection
Bankrupt crypto lender Celsius Network had $12M in outstanding loans to Alameda Research
Temasek, Sequoia Capital and SoftBank writing off hundreds of millions they invested into FTX
Tom Brady, Gisele Bundchen, Steph Curry, Larry David class action lawsuit for FTX promo
Esports club Team SoloMid (TSM) suspended its 10-year, $210M sponsorship deal with FTX
Binance has taken over all of FTX futures market share
DeFi prime brokerage service Oxygen had FTX act as custodian for over 95% of coin supply
Investing platform Bnk To The Future terminated it’s intent to buy Salt Lending
Politicians, regulators and athletes are attempting to distance themselves from FTX and SBF
Australian financial regulator suspended FTX Australia's financial services license
Thursday, November 17th
SBF Twitter DM with Vox journalist article - admits his altruistic facade was a lie
SBF received $1B in loans from FTX-related silo companies
Binance role in FTX collapse under congressional scrutiny
New FTX CEO - “Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here”
Multicoin Capital lost more than half of its flagship fund’s capital in about two weeks
Gemini saw a $485M rush of outflows amid contagion fears. Operations returned to normal
OKX and Crypto.com also experienced 'severe' outflows
Deposits of Solana USDC & USDT temporarily suspended by Binance, OKX, KuCoin and ByBit
Binance.US is preparing to bid for bankrupt lender Voyager Digital - previously made a $50M bid
Other bidders: crypto investment manager Wave Financial and trading platform CrossTower
Analytics firm Chainalysis is owed money in the FTX bankruptcy proceedings
FTX exploiter again swapped thousands of stolen BNB into ETH, BUSD
Bahamian liquidators say FTX wasn’t authorized to file for bankruptcy in the US
Troubled Asian crypto lender Vauld has about $10M stuck on FTX
Avalanche founder says they had very little exposure to FTX
Circle Yield had Genesis as a counterparty with $2.6M in customer loans outstanding
Paxos customer assets not impacted by FTX/Alameda
Canadian exchange Bitvo terminated its expected acquisition agreement with FTX
Friday, November 18th
Authorities questioning Binance over their role in the downfall of FTX
5 key highlights from FTX bankruptcy filings: Access to confidential private keys, Misuse of customer funds, Unaudited financials, Loans to themselves, No employee management
Securities Commission of The Bahamas said it transferred all of FTX Digital Markets’ assets to a digital wallet it controls on Nov. 12 to protect the interests of clients and creditors
Jump Crypto says they’re one of the most well-capitalized and liquid firms in crypto
Bank of America, Circle, JPMorgan Chase Bank, N.A., Wells Fargo, Silvergate Bank exposed
Genesis sought an emergency loan of $1B from investors but failed to get funding
According to bankruptcy filings, Alameda Research made $4.1B in loans to related parties, including $1B to former FTX CEO SBF, $543M to FTX Director of Engineering Nishad Singh and $55M to FTX Digital Markets head Ryan Salame
Solana NFT protocol maker Metaplex layoffs. Had no financial exposure to FTX but appears to be suffering from reputational damage spreading to Solana
FTX’s Hong Kong-related exchange, Genesis Block, which operated one of Asia's biggest bitcoin ATM networks, will suspend trading and will close its website next month
Uruguayan payments unicorn DLocal has $5.6M tied up on FTX - exposure to the crypto ecosystem is minimal
The University of California Berkeley suspended its $17.5M football stadium naming rights deal with FTX
Documentary studio XTR has started production on a feature doc about the FTX crash and SBF
Nickel Digital Asset Management has ~ $12M stuck on FTX - about 6% of its $200M AUM
Data:
My usual end of week crawl through some bigger picture data points to see what stands out
Bitcoin:
Big daddy Bitcoin. I’ve had this yellow meme line on my chart since the summer. Was a quick visual way to see that we were maintaining the level set by the 2017 top. Due to all the FTX fuckery, we’ve since fallen below the meme line. Literally nobody knows how the actual market will play out, how low we’ll go or for how long but it feels safe to say that with all the recent big players in the crypto space getting hurt and probably caught up in the FTX fallout, confidence will be low for a while and the bid might take a while to return
Ethereum:
ETH was looking so good for a while but then it kinda pooped itself with all the recent hullabaloo. The one constant silver lining is the refusal for this bad boy to fall below the summer lows. Of course now there’s concerns that some of the big institutional players hurt by the FTX ordeal might have to liquidate their ETH holdings. Another reason why I’ve been keeping an eye on the FTX fallout. Want to be aware of any ETH selling pressure that might hit the market
Crypto Market Cap:
$830B total market cap. Retraced basically the entire previous bull run and we’re back to early 2021 levels. With such devastation should also come opportunity. Right…..???? Patience.
Nansen Exchange Flows:
Taking a look at what is being deposited to and withdrawn from exchanges
Smart Money Exchange Deposits: Looks like smart money was primarily sending their ETH onto exchanges, followed by PAXG and AAVE.
Smart Money Exchange Withdrawals: As to what they were withdrawing, they were taking stablecoins such as BUSD, USDC, USDT off of exchanges
Exchange Deposits: How about all wallets in general? Looks like they weren’t sending very much onto exchanges. MKR, HFT, PROS, CRV. Ranging from $10M to less than a mil. Puny numbers.
Exchange Withdrawals: Now we’re talking some real numbers, in the billions. Stablecoins and ETH were removed en masse from exchanges - this again highlights the uncertainty users are feeling when it comes to exchanges. Nobody wants to be exposed and we’ve also seen multiple examples of increased self custody, hardware wallet sales and DeFi dApp usage.
DefiLlama DeFi TVL:
DeFi TVL has also fallen to early 2021 levels. Solana specifically was hit hard by the FTX fallout
Top protocols by TVL:
Most of the top protocols took big hits. Looking at the monthly change - pretty red. Curve, Convex and Compound took some of the most damage. Arrakis Finance on the other hand comes out looking not too bad on the monthly. Up almost 20%. Let’s take a closer look.
Seems to have followed a cycle of its own. Topped in July and was recently on a bit of a recovery. Curious.
The top blockchains by TVL:
Sheesh. Not great. Solana took the most damage with a 66% drop in the past 30 days due to its FTX/Alameda relationship. My eye is also drawn to those who seemed to have suffered the least. Namely BSC down only 4.7% and Arbitrum down only 2.57%.
Just for fun, let’s take a look at the Solana TVL. Ouch… From last year's superstar to this year's pariah. How the mighty have fallen.
Token Terminal Revenue:
I really like this Token terminal leaderboard. Looking at the protocols with the most earnings over the past 7 days. Fees flow into a protocol, a portion of fees are captured as revenue, a portion flows out as incentives and what's left over are earnings. Helps give a sense of which protocols run as good businesses.
On the flipside, looking at who has the worst earnings over the past 7 days. This should highlight why token incentives are unsustainable for the long term. Bitcoin is a curious case because I believe it’s calculating all those token incentives as miner rewards and miners are necessary to the bitcoin network so it’s not really a business like some of these other ones.
CryptoSlam Blockchains by NFT Sales Volume (30D):
In the past month:
Ethereum: up 21.73% in sales
Solana: down 20.47% in sales
Polygon: up 91.82% in sales
Arbitrum: up 106.48% in sales
From: Nansen, DexScreener, CoinMarketCap, CoinGecko, DefiLlama, DappRadar, CryptoSlam, TokenTerminal, Tradingview, Dune
Now for those who like details or want sources:
Crypto News:
Monday:
Tokensoft, a chain-agnostic token launch platform, has doxxed over 4000 of its users alleging that the named users were ‘gaming’ the Tokensoft DAO’s airdrop
Chainlink Labs offers proof-of-reserve service for embattled exchanges
The Klatyn Block Reward Adjustment has been reflected in both the Baobab and Cypress network
Polkadot Academy is coming to Buenos Aires + ecosystem update
Tuesday:
Circle $USDC adds support for Apple Pay
Cathie Wood's Ark Invest added over $2.8M worth of GBTC shares. GBTC’s discount is currently -39.81%
The Cosmos community voted against the latest ATOM 2.0 proposal, which aims to revamp the ecosystem’s native ATOM token. Voter turnout for the proposal reached 73.41%
Hardware wallet manufacturers Ledger and Trezor both reported a huge spike in sales as consumers rushed to self-custody solutions to safeguard their digital assets
Crypto Oasis will be the official regional partner for Decipher 22, the annual Algorand ecosystem conference
Wednesday:
Luna Foundation Guard spent $2.8B defending UST peg
CoinGecko New Feature: Exchange's Proof of Reserves
StarkNet Token deployed on Ethereum Mainnet. Tokens held by StarkWare shareholders, employees and independent partner software developers are locked for 4 years. Distribution mechanism not yet established
Thursday:
Neobank Revolut to launch a lightweight version of its app in the coming months with features such as instantaneous cross-border transfers targeting lower-income countries such as Latin America, Southeast Asia, and the Middle East
El Salvador’spresident Nayib Bukele announced that the Central American nation will begin purchasing one Bitcoin every day
Arbitrum Decentralization Update - Expanded Validation on Arbitrum One
ConsenSys is launching the Ethereum Climate Platform (ECP) at COP27’s UN Climate Change Global Innovation Hub - the initiative aims to address Ethereum’s excess energy consumption before it went through the Merge
Cardano blockchain builder Input Output Global (IOG) funded a $4.5M research hub at the University of Edinburgh. Made similar investments at Stanford and Carnegie Mellon
Friday:
Quiet news day
Economic/Government/Regulatory:
Monday:
Politicians are calling for regulation left and right
Tuesday:
The European Union is considering a ban that would prevent banks and crypto providers from dealing with privacy coins such as zcash, moner, dash and others
The New York Federal Reserve and a group of private banking firms are developing a DLT-based digital dollar pilot
Wednesday:
U.S. SEC delays decision on ARK 21Shares spot Bitcoin ETF to Jan. 27
South Korean authorities raid Terraform Labs co-founder Daniel Shin’s company. Also summoned Shin as part of another investigation into the selling of pre-issuance Luna tokens
Thursday:
U.S. prosecutors have asked a court to sentence Greg Dwyer, Bitmex's former head of business development, to 12 months of probation for violating the U.S. Bank Secrecy Act
A South Korean court has approved a request by prosecutors to seize and pre-trially secure the assets of Terraform Labs co-founder Daniel Shin about $104M for allegedly selling pre-release Luna
Silvergate Bank, a provider of financial services to the digital currency industry, was recently subpoenaed and found to have $425M in transfers among its crypto bank accounts to South American money launderers
Australian Securities Exchange (ASX) shelved its seven-year-long project to ramp up the exchange’s CHESS clearing and settlement system using blockchain after an independent audit by Accenture reported issues - writes off $170M
Wells Fargo and HSBC expanded their blockchain-based system for settling foreign exchange transactions to include the offshore yuan
Friday:
Quiet news day
Exchange News:
Heavily FTX focused - obvi
Monday:
Several wallets allegedly belonging to FTX were drained of hundreds of millions of dollars in coins late on Friday night
Miami to remove FTX name from iconic downtown stadium
SBF built a "backdoor" to his FTX exchange in an effort to change financial records and move funds without alerting others
Solana-based gaming metaverse Star Atlas saw its cash runway cut in half after the collapse of FTX
Hedge fund Galois capital has almost half of its funds stuck on FTX
F1 team Mercedes-AMG Petronas suspended its sponsorship deal with crypto exchange FTX
Animoca Brands reveals 'limited' FTX exposure
Celsius revealed it has 3.5M Serum tokens on FTX as well as $13M in loans to Alameda Research
Crypto lender Voyager has reopened the bidding process for its assets after the bankruptcy of FTX
Crypto exchange Crypto.com holds 20% of its reserves in the Shiba Inu token
Crypto.com accidentally sent $400M in ETH to Gate exchange
Wrapped tokens on Solana are no longer redeemable after issuers FTX and Alameda Research filed for Chapter 11 bankruptcy protection
Jump Crypto’s exposure to FTX was managed in accordance with its risk framework and remains well capitalized
Paradigm marks down FTX investment to zero
Huobi revealed holdings of $3.5B in hot and cold wallets for the sake of transparency
Kraken froze accounts owned by FTX Group, Alameda Research and their executives and claims to maintain full reserves
FTX had 192M FTX tokens (~$400M) minted by its deployer contract and Binance halted FTT deposits as the new tokens mysteriously flooded the market
GameStop to end its relationship and its pilot gift card marketing partnership with FTX.US
Binance will launch a new industry recovery fund to help crypto projects facing liquidity crunches and opened the door for investors to contribute to the fund. Tron founder Justin Sun and investor Simon Dixon to support the initiative
Crypto.com CEO claims FTX exposure was limited to $10M - an external audit report is planned in a few weeks to verify its balance sheet
Hong Kong-based crypto exchange AAX suspended withdrawals, citing a glitch in a system upgrade and denied rumors of the withdrawal pause being due to the fallout of FTX
Chiliz allocates 38M CHZ to compensate individual users unable to withdraw CHZ on FTX
Visa terminates global debit card agreements with FTX
Japan has asked FTX Japan to cease operations by December 9, 2022
Singapore was the second largest source of FTX users but FTX was not licensed to operate in the country
Users are fleeing exchanges and turning to non-custodial wallets amid FTX’s collapse
Binance shutting down a FTT trading pairs and contracts except with BUSD and closing off the ability to short FTX’s token
Hbit Limited, a fully owned subsidiary of New Huo Technology, has approximately $18.1M worth of assets stuck on FTX - gets $14M loan from ex-Huobi CEO Leon Li to cover client funds
Binance US, Coinbase, and Curve are in a bidding war for BlockFi's credit card customers
FTX clarification on certain entities not included in chapter 11 filings
OKX SRM/USDT Perpetual Swap will be delisted
Binance will cooperate with Vitalik to launch a new platform reserve proof method with Binance serving as a pilot
Kraken, Coinbase and Gate.io publish proof of reserves with liabilities
Solana ecosystem facts related to FTX bankruptcy
Multicoin Capital's third VC fund has exposure of more than $25M to FTX
U.S. federal law enforcement ordered crypto issuer Paxos to freeze $19M worth of crypto tied to the bankrupt FTX
Hedge fund Ikigai Asset Management had a "large majority" of its assets on FTX
Aleph Zero (AZERO) listed on KuCoin
Tuesday:
FTX owes more than $5.0B USD, $1.41B BTC, $800M Tether and $670M ETH, along with loans to BlockFi, Genesis and LayerZero totaling close to $9.0B outstanding
Alameda CEO said around the time the crypto market crashed, lenders moved to recall loans but the funds that Alameda had spent were no longer easily available, so the company used FTX customer funds to make the payments
Blockchain analytics firm Nansen released an overview of major cryptocurrency exchanges’ onchain asset holdings and portfolios in the wake of FTX’s collapse
Between 25% and 40% of crypto hedge funds had some level of direct exposure to FTX or FTT. The losses may be over $1B and possibly as much as $5B
FTX hacker tried sending USDT on the Tron blockchain multiple times unsuccessfully because they didn’t have enough TRX to pay for transaction fees. So the looter used their verified personal account on Kraken to send 500 TRX to the compromised wallet address to cover the gas fees. This is how they linked their KYC
SBF gives interview to the New York Times - says he’s been getting sleep and playing video games
FTX’s new CEO held an all-hands meeting to discuss the exchange group’s future after its bankruptcy filing - plans to reorganize and seeks support from staff
Alameda Research used prior knowledge of tokens that were scheduled to be listed on FTX to buy them ahead of the public announcements and then sold them for a profit
Sino Global Capital revealed that mid-seven figures in assets held in custody on FTX
FTX may have more than one million creditors
The FTX drainer address swapped DAI for ETH, swapped BNB on BSC and bridged to Ethereum. The address is now the 36th largest holder of ETH
NBA team The Golden State Warriors is set to pause all FTX-related promotions, ending its $10M sponsorship agreement
Turkish law enforcement investigating FTX's local arm
OKX announced $100M to support projects with liquidity issues and to migrate from the Solana
Gate was hacked by North Korean hackers on April 1, 2018 for $230M without disclosing
Liquid Exchange, a licensed Japanese exchange acquired by FTX, announced that it will stop withdrawals due to the Chapter 11 filing by FTX
Electric Capital unaffected by FTX - only $125K stuck on FTX exchange that was used to help a portfolio company
Celestia project treasury is unaffected by the FTX fallout. FTX Ventures made a small investment into Celestia’s most recent fundraising round
The Supreme Court of the Bahamas approved provisional liquidators to oversee FTX Digital Markets Ltd.’s assets
Binance, BitMEX and KuCoin have delisted FTX Token pairs
Nigerian crypto startup Nestcoin’s operational funds stuck on FTX. Raised $6.5M from investors including Alameda earlier in the year
Crypto lending platform Salt has halted withdrawals and deposits, citing the impact of the FTX collapse
Wednesday:
US reportedly considering SBF extradition for questioning
SBF sued in U.S. court by investors alleging the company’s yield-bearing crypto accounts violated Florida law
The U.S. House Financial Services Committee will hold a hearing into FTX next month
The lending arm of crypto investment bank Genesis Global Trading is temporarily suspending redemptions and new loan originations in the wake of FTX’s collapse. Served an institutional client base and had $2.8B in total active loans as of the end of the third quarter of 2022
Prominent crypto market maker B2C2 has offered to purchase loans from the suddenly-struggling crypto financial firm Genesis
Grayscale said that its products are operating "business as usual" and operations have not been impacted by "recent events" after Genesis Global Capital halted withdrawals
Gemini Earn unable to meet customer redemptions due to Genesis unit pausing withdrawals
Crypto exchange Gemini reports broad outage, says client funds secure
Canadian crypto lender Ledn has no exposure to Genesis Global Capital and is fully operational - Genesis was Ledn's primary lending partner at the start of its operations
FTX Digital Markets, the Bahamas-based subsidiary of collapsed crypto exchange FTX, filed for Chapter 15 bankruptcy protection
Crypto lending platform BlockFi is considering filing for Chapter 11 bankruptcy protection and preparing for job cuts after FTX collapse
Bankrupt crypto lender Celsius Network had $12M in outstanding loans to Alameda Research
FTX investors including Temasek, Sequoia Capital and SoftBank are writing off hundreds of millions of dollars they invested into FTX
Celebrities who promoted troubled crypto exchange FTX are facing a class action lawsuit for promoting unregistered securities. Tom Brady, Gisele Bundchen, Steph Curry and Larry David are among those named in the lawsuit
Binance has taken over all of FTX futures market share
DeFi prime brokerage service Oxygen, which Alameda and Multicoin once led a $40M investment, said FTX Group acted as custodian for over 95% of the overall supply of its tokens
Online investing platform Bnk To The Future terminated its non-binding letter of intent to buy Salt Lending due to FTX collapse
Esports club Team SoloMid (TSM) suspended its 10-year, $210M sponsorship deal with FTX
Politicians, regulators and athletes are attempting to distance themselves from FTX and SBF
The Australian Securities and Investments Commission suspended FTX Australia's financial services license in the country until May 15, 2023
Binance secured permission from regulators in Abu Dhabi to operate as a crypto custodian for institutional clients
Proof of reserves for Bitfinex - holds: 204338.17967717 BTC, 2018.5 L-BTC (Liquid), ~1000 BTC on LN, 1225600 ETH
Coinbase CEO Brian Armstrong sells more than $1.6M in shares
Bitget, a Singapore-based crypto derivatives exchange, has launched operations in Brazil
Coinbase & Coinbase Exchange will list Lido DAO (LDO)
Thursday:
SBF Twitter DM with Vox journalist article - admits his altruistic facade was a lie
Binance role in FTX collapse under congressional scrutiny
Crypto exchange Gemini saw a $485M rush of outflows amid contagion fears however operations returned to normal. OKX and Crypto.com also experienced 'severe' outflows
A bankruptcy filing from FTX chief restructuring officer John Ray III highlights that SBF received $1B in loans from FTX-related silo companies
Binance.US is preparing to bid for bankrupt lender Voyager Digital - previously made a $50M bid for Voyager but lost it to FTX.US. Other bidders included crypto investment manager Wave Financial and trading platform CrossTower
Crypto lender Nexo earlier this year made an unsuccessful offer to acquire troubled rival BlockFi as part of a proposed deal worth about $850M
Troubled Asian crypto lender Vauld has about $10M stuck on FTX
New FTX CEO John J. Ray III issued a scathing assessment of "unprecedented" poor management practices by his predecessor, SBF. “Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here”
Analytics firm Chainalysis is owed money in the FTX bankruptcy proceedings
Binance deposits of USDC (SOL) and USDT (SOL) have been temporarily suspended. OKX will delist USDC-Solana and USDT-Solana. KuCoin and ByBit as well
FTX exploiter again swapped thousands of stolen BNB into ETH, BUSD. The attacker appears to convert the illicitly gained funds around the same time every day
Bahamian liquidators say FTX wasn’t authorized to file for bankruptcy in the US since everything falls under the “FTX Digital Markets” umbrella - a Bahamian entity, subject to Bahamian law. They also cite ‘serious fraud and mismanagement’ in court filings
Avalanche founder says they had very little exposure to FTX
Cryptocurrency-focused asset manager Multicoin Capital lost more than half of its flagship fund’s capital in about two weeks. Excludes illiquid, side-pocketed, investments. 9.7% of fund assets, including derivatives, that were custodied by FTX
Circle Yield, an overcollateralized fixed-term yield product, had Genesis as a counterparty. Total Circle Yield customer loans outstanding are $2.6M
Paxos customer assets are always segregated, bankruptcy remote and were not impacted by FTX/Alameda
Canadian cryptocurrency exchange Bitvo terminated its expected acquisition agreement with FTX to continue operating independently
0xScope launches exchange transparency dashboard on 0xWatchers
Coinbase assets added to the roadmap: MultiversX (Previously Elrond) (EGLD)
Friday:
Authorities in multiple jurisdictions are questioning Binance over the international crypto exchange's role in the downfall of FTX
5 key highlights from FTX bankruptcy filings: Access to confidential private keys, Misuse of customer funds, Unaudited financials, Loans to themselves, No employee management
Securities Commission of The Bahamas said it transferred all of FTX Digital Markets’ assets to a digital wallet it controls on Nov. 12 to protect the interests of clients and creditors
Jump Crypto says they’re one of the most well-capitalized and liquid firms in crypto, quashing rumors
Bank of America, Circle, JPMorgan Chase Bank, N.A., Wells Fargo, Silvergate Bank among potentially exposed FTX parties
Genesis sought an emergency loan of $1B from investors before telling clients it was suspending redemptions but failed to get funding
According to bankruptcy filings, Alameda Research made $4.1B in loans to related parties, including $1B to former FTX CEO SBF, $543M to FTX Director of Engineering Nishad Singh and $55M to FTX Digital Markets head Ryan Salame
Solana NFT protocol maker Metaplex has undergone a company-wide round of layoffs. Had no financial exposure to FTX but appears to be suffering from reputational damage spreading to Solana
Ontario Teachers', one of Canada's largest pension funds with nearly $250B in assets under management, will write down the entirety of its $95M investment in FTX
FTX’s Hong Kong-related exchange, Genesis Block, which operated one of Asia's biggest bitcoin ATM networks, will suspend trading and will close its website next month
Uruguayan payments unicorn DLocal has $5.6M tied up on FTX - exposure to the crypto ecosystem is minimal
Crypto investment firm Nickel Digital Asset Management has around $12M of its funds' capital stuck on FTX - about 6% of its $200M in assets under management
The University of California Berkeley suspended its $17.5M football stadium naming rights deal with FTX
Documentary studio XTR has started production on a feature doc about the FTX crash and SBF
DeFi:
Monday:
Solana developers are forking FTX-developed token liquidity hub Serum after it may have been compromised in a hack on FTX
DEXs Trading volumes hit $32B over 7 days - sees increase following loss in trust of CEXs
Solend liquidity mining rewards have been turned off until further notice
Umee is launching a new chain, the Ojo Network - will focus on providing oracle services to the cosmos interchain
Tuesday:
Solana DeFi sees almost $700M in value wiped out on FTX fallout
Trust Wallet launches browser extension
The 1inch Router v5 is released
Wednesday:
Circle estimate that up to $3.0B of the $8.3B decline in USDC in Circulation from June 30, 2022 to September 30, 2022 was driven by the auto conversion by Binance of USDC to BUSD
New users of Uniswap’s Web App reached a 2022 high
MetaMask and Laconic launch MobyMask light client - a new initiative from the MetaMask team to help proactively protect users from phishing, uses a dynamic web of trust for sourcing phishing reporters
Trader Joe - Liquidity Book: Launch Day Plan
Introducing yBribe. Yearn’s new bribe platform for Curve gauge voting
Aave is live on Aztec. The leading open source protocol for non-custodial liquidity markets, now with full privacy and 12x lower gas fees
Maker Teleport - A MakerDAO infrastructure for teleporting DAI across the multi-chain space without losing security or scalability
A call to Build Smarter Self-Custody - Safe commits $1,000,000 in grants for teams building better alternatives to custodial solutions
Thursday:
Uniswap suffered an outage affecting some users caused by a routing problem at internet infrastructure firm Cloudflare
Goober is a farm for fractional Gobblers & Goo. It allows users to permissionlessly swap Art Gobblers & Goo as well as deposit Goo and fractionalize their Gobblers in order to maximize their Gobbler & Goo accrual without the need for active management
Yearn <> CoW Swap - allows complex swaps in CoW Swap like, 3CRV <-> yvSNX
Sushi past 2-3 weeks of software/biz dev, & DAO activity update
MakerDAO holds ~483M GUSD the PSM, a module fully controlled by MakerDAO and the Maker Protocol
Introducing yBribe. Yearn’s new bribe platform for Curve gauge voting
Friday:
Uniswap Labs released two new smart contracts: Permit2 allows token approvals to be shared and managed across different applications.Universal Router unifies ERC20 and NFT swapping into a single swap router. Integrated with Permit2, users can swap multiple tokens and NFTs in one swap while saving on gas fees
Convex live on Arbitrum
KWENTA Token is live
Nexo set to launch their own non-custodial smart wallet
Cardano developer Emurgo plans to issue a U.S. dollar-pegged stablecoin called USDA on the network in early 2023
NFTs/Gaming/Metaverse:
Monday:
Yuga Labs acquired Beeple’s NFT platform Wenew and its flagship NFT collection, 10KTF with Beeple joining Yuga Labs as an advisor
Nike is taking further steps towards Web3 integration with its release of .SWOOSH, a new platform geared towards building community around its digital wearables
The Tie has launched a brand new, comprehensive dashboard for Avalanche GameFi and NFTs
Tuesday:
Adidas included its BAYC character named Indigo Herz in a recent World Cup promotional trailer including football stars Lionel Messi and Karim Benzema
The floor price of BAYC has dropped by more than 20% in the past week
PlayStation has been working on NFTs and blockchain technology, Sony patent reveals
Cristiano Ronaldo partners with Binance to launch his first NFT collection
Yuga Labs plans to donate CryptoPunks NFTs to modern art museums around the world
A one-of-a-kind NFT of the Birkenstocks sandals worn by Apple co-founder Steve Jobs at various times during his life has sold for $218,750 at an auction
Bangalore International Airport in India launched Metaport, a metaverse airport built on the Polygon blockchain
Wednesday:
Binance to include OpenSea NFTs on Binance NFT Marketplace
SolChicks NFT project lost up to $20M of treasury funds due to the UST implosion in May 2022 and decided not to inform the community
Thursday:
Adidas unveils its first NFT wearable collection, Virtual Gear, which includes 8 silhouettes within 16 variations
Chainlink launches NFT floor price feed service on Ethereum, which will first support 10 NFT series, including Azuki, BAYC, CloneX, Cool Cats, etc - supported by Coinbase Cloud’s aggregation algorithm and Chainlink’s oracle infrastructure
First ever Sei NFT is here. Wallet addresses that made 10+ transactions on Seinami testnet after Nov. 8th are eligible to mint a "Dawn" Sei NFT
Red Bull Racing will close out a successful Formula 1 season with an NFT emblazoned on both drivers’ vehicles at the Abu Dhabi Grand Prix
Justin Bieber paid $1.3M for a Bored Ape NFT that’s now worth $69K
Coachella NFTs sold for $1.5M and are now stuck on FTX. FTX NFTs users say they can’t withdraw assets from the platform
Friday:
3LAU’s Royal debuts marketplace to bring music NFTs to the masses. Used $16M seed funding to develop its browser-based NFT marketplace, where users can discover new artists, trade Royal NFTs, and see detailed statistics on each asset
NFT marketplace X2Y2 removed the "Flexible Royalty" setting for all new listings of NFTs with OpenSea OperatorFilter. Will enforce royalties on ALL collections
Prince Harry and Meghan Markle are “in advanced talks” with pax.world - a platform allowing users to create their own metaverse
MetaMask Portfolio Dapp: NFT Price Estimate
Fundraises:
Monday:
Buildspace raises $10M to build Hogwarts for builders and dreamers led by a16z
FTX and Avalanche co-led $5M round for Joepegs NFT marketplace
Tuesday:
Yakoa, a California-based NFT fraud detection startup, has raised $4.8M in a seed funding round. Brevan Howard Digital, Volt Capital and Collab+Currency co-led the round
Binance Labs made a $4M strategic investment in Ultimate Champions, a free-to-play fantasy sports platform that will be deployed on the BNB Chain. Ultimate Champions provides in-game wallets to make onboarding easier and supports fiat payments for NFT packs as well as its tokens. Players can collect, trade, and own officially licensed player cards as NFTs.
Web3 gaming monetization platform PlayEmber raised $2.3M in a pre-seed round led by Shima Capital. Investors in the round also include Big Brain Holdings, Hyperithm, Warburg Serres, Lyrik Ventures and Huobi Ventures
Wednesday:
Matter Labs, the parent company of Ethereum scaling protocol zkSync, has raised $200M in a Series C round to launch first-party projects built by Matter Labs, grow its team, and fund other ecosystem projects built by external teams led by Blockchain Capital and Dragonfly with participation from LightSpeed Venture Partners, Variant, and Andreessen Horowitz
JUMBO, one of the foremost DEXs on NEAR, raised $3.5M in fundraising round - Leading Investors: Pantera Capital, Huobi Ventures. Participating: D21 Ventures, Big Brain Holdings, Dweb3 Capital, Fundamental Labs, MetaWeb.
Thallo raises $2.5M for next generation carbon credit exchange powered by blockchain
Thursday:
Binance signed 8 investment deals
ADDX raised $20M in an upsized Pre-Series B funding round. Joining their board is new shareholder KB Securities, subsidiary of Korea’s largest banking group KBFG
As part of its partnership with the TON Foundation, DWF Labs has announced a commitment to allocate $10M to support the TON ecosystem
Virtualness, a mobile-first platform designed to help creators and brands navigate the complex world of Web3, secured over $8M in seed funding. The fundraise was led by Blockchange Ventures, and joined by Polygon Ventures, F7 Ventures, Micron Ventures, Oceans Ventures
Web3 Music Platform Element Black raised $6M from Central Research Capital, JKL Group, Aralern Capital and other institutions
Heroic Story, a web3 gaming and entertainment studio, has raised $6M in a seed round led by Upfront Ventures
Revv comes out of stealth with $5.5M seed raise to build out marketplace infrastructure in DeFi
Colombia-based crypto wallet platform Zulu raised a $5M seed round led by Cadenza Ventures
Development company Anode Labs has raised $4.2M in a seed round to build a decentralized network that will pay individuals and small businesses for their energy storage assets
Friday:
$138B investment manager Man Group to launch crypto hedge fund
Australian startup, Arkon Energy, raises $28M to expand further into bitcoin mining and buy a 30MW data center which can be expanded to 60MW
Circularise secures €11M in funding from Brightlands Venture Partners, Asahi Kasei, Neste, 4impact and others
Hyakki NFT utility and marketing platform has raised $2M seed round funding from Step VC, Druid Ventures
Veax, a decentralized derivative trading protocol on NEAR, raises $1.2M pre-seed amidst global centralized finance breakdown
Early Stage Projects:
Monday:
Red Alarm - The following projects and dApps have been assessed to be untrustworthy and carry extremely high levels of risks
Binance Labs has selected 12 projects for season 5 of its accelerator program
Tuesday:
Daylight is out of closed beta - wallet has special abilities you don't know about, and Daylight uncovers them for you: mints, airdrops, unlocks, votes, etc
Wednesday:
Announcing “Beta-2”: Fuel's Second Public Testnet - brings cross-chain bridging
Thursday:
Humanode Mainnet is live and ready for participation. Claim tokens needed to deploy the node
Announcing SSX: Self-Sovereign Anything - the easiest way to get started with decentralized identity and install Sign-In with Ethereum
Lemma Finance v2 protocol: LemmaSwap - a completely new protocol for swapping spot assets using perpetual futures liquidity
Friday:
Mysten Labs announces the start of Sui Testnet Wave 1 on November 17. This Wave will last for 2-3 weeks and will be focused on validators and full nodes
Mina Launches the zkApps Era
InsureDAO on Arbitrum. Allows protecting your deposited funds in protocols against smart contract hacking/bug risks
Saga Token Mechanism & Incentives Paper
Mellow Protocol going live - DeFi strategies and launch
$ACX Token Launch Party - Nov 28
Research/Reads:
Glassnode - The Fall of FTX - source
WuBlockchain - Clarify Merkle Tree: see how centralized exchanges "certify their innocence" - source
Animoca Brands - Glimpsing the future through the lens of days past: Part 2 - source
Sophistry and the Savior - source
Fantom: Consensus practically explained - source
The Merge series: Rewards - source
Midterm Miracle - Macro Update: How the Market Reacts to Elections - source
Crypto Wallets: The Drivers of Mass Adoption - source
In summary: What is the real reason for the collapse of the FTX empire? - source
Binance's CZ lists six requirements for safe exchanges - source
Coinbase - The long winter gets longer - source
Luna Foundation Guard (LFG ) - Technical Audit Report - source
Taking A Long Term View Of Web3 - source
Understanding the Tax Implications of NFTs, Staking and Yield Farming - source
A look at the future innovation direction of fan tokens under the World Cup Upsurge - source
Binance Responses to the Chair of the Treasury Select Committee on questions to Binance at the crypto asset industry hearing on 14 November 2022 - source
The Other Side Of The Trade: QCP Capital - source
Sam Bankman-Fried tries to explain himself - source
a16z - Achieving Crypto Privacy and Regulatory Compliance - source
Jarvis Labs - Welcome to the Jungle - Market Update: The Danger That Sits Above - source
WuBlockchain - Lawyer: Taiwan FTX Victims' Status, Causes and Subsequent Events - source
The World Cup is approaching: Will football-themed Tokens become hot? - source
Ultimate Guide to Undercollateralized Lending in DeFi - source
Nansen - Blockchain Analysis: The Collapse of Alameda and FTX - source
Uniswap Fee Switch Report - source
Arthur Hayes - How Sam Bankman-Fried used his status as the right kind of "White Boy" to con the world - source
Why USD₮ Issuances Ensures No Risks from FTX_Alameda - source
5 bankruptcy concepts you need to know - source
Seedless Self-Custody: On MPC and Smart Contract Wallets - source
Twitter:
How do we quantify trust? - source
Migration towards Defi Exchanges- Like WFH, it was always going to happen, but this is the Covid accelerant moment - source
Airdroppers doxed - source
Snowden buying - source
The regulatory hammer is coming + issues - source
Sam not deleting tweets - source
Proof of Reserves needs to be coupled with Proof of Liabilities in order to be useful - source
Why DeFi > CeFi in terms of financial stability and resilience? - source
Su Zhu and Kyle Davies new potential fund - source
10 lessons learned from FTX - source
SBF bizarre tweets: says FTX US had cash needed to repay clients - source
Jason Choi definitive thread on FTX - source
Existence of no-liquidation accounts - source
The BlockFi conspiracy - source
DCG owns both Genesis and Coindesk, and Genesis is forced to halt withdrawals after a bank run initiated by a Coindesk exclusive regarding Alameda's balance - source
Citron Research - famous short-selling agency, said that it will continue to short ETH - source
FTX management embezzled billions for themselves - source
Alameda was secretly exempted from FTX's auto-liquidation protocols - source
Elon Musk’s leaked email. His 6 rules for insane productivity - source
Schwab, Fidelity, and Citadel launch EDXM exchange. First Crypto Dark Pool - source
Adam Cochran FTX meltdown chronological thread - source
Chart to track the FTX contagion - source
Nansen deep dive into the roots of FTX <> Alameda's ties - source
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