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.
metaverses & Adoption
El Salvador president Nayib Bukele denies storing Bitcoin on FTX: Binance CEO;
Brussels set to begin talks on EU crypto tax;
Criminal charges for Sam Bankman-Fried ‘on the table’, after FTX’s epic collapse;
Buyer of most expensive NFT offloading a 36 piece collection, including BAYC, Tiffany Punks and Otherside land at a steep discount;
Meta fires 11,000 employees due to metaverse losses;
Binance CEO calls out renowned news outlet Bloomberg for publishing fake news;
Web3 war: metaverse overlords band together to fight decentralization.
FTX had only $900 million in liquid assets backing $9 billion in debt;
Tether freezes FTX USDT as dollar peg wobbles;
BlockFi suspends customer withdrawals;
DeFi Total Value Locked plummets to 20-month low while crypto market tanks;
82% of Tether reserves held in ‘extremely liquid’ assets, according to attestation;
FTX hack sparks revolution at Serum DEX as Solana developers plot Alameda’s ouster;
Terra Classic (LUNC) burn exceeds 27 billion with total staked tokens surpassing 850 billion;
Celsius reports $13 million in loans to Alameda Research;
DFX Finance hacked for $4 million – attacker moves funds through Tornado Cash.
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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