Ftx empire collapses

Edition #42 - 13 NOV 2022


Sam Bankman-Fried’s cryptocurrency exchange FTX has filed for Chapter 11 bankruptcy protection in the U.S., according to a company statement posted on Twitter, followed by reports of the exchange getting hacked for over $400 million.

Bankman-Fried has also stepped down as CEO and has been succeeded by John J. Ray III, though the outgoing chief will stay on to assist with the transition.



gaming developments


metaverses & Adoption


defi


funding rounds

  • Blockchain intelligence firm TRM Labs raised $70M in a Series B funding round led by Thoma Bravo, with participation from Goldman Sachs, PayPal Ventures, Amex Ventures and Citi Ventures;

  • Crypto payments firm Ramp raised $70M in a Series B funding round led by Mubadala Capital and Korelya Capital. Cogito Capital and previous lead backer Balderton Capital are among investors;

  • ​​Digital assets exchange Archax raised $28.5M in a Series A funding round led by Abrdn, with participation from Bitrock Capital, Blockchain Coinvestors and the Tezos Foundation.

 



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