| Binance will set up an industry recovery fund; the suspected V God address recently sold 3,000 ETH (November 15)
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CZ: Binance will set up an industry recovery fund to help high-quality projects survive the liquidity crisis
It is worth mentioning that Justin Sun also stated that TRON DAO, Huobi Global and Poloniex will actively participate in the industry recovery fund to help outstanding builders and developers recover from the crisis.
SBF: Alameda has a multi-billion-dollar margin position on FTX and is currently relying on video games to keep its sanity
Odaily News SBF said in an interview with The New York Times that he deeply regrets the closure of the company. SBF told the New York Times, "You'd think I couldn't sleep at all right now, but I'm actually sleeping well. Because it could have been worse."
In addition, SBF mentioned in the interview that it no longer has a romantic relationship with Caroline Ellison, the head of Alameda Research. SBF has declined to discuss the possibility of jail time and has been playing the video game Storybook Brawl to pass the time, which SBF said "has cleared my mind". As for the mysterious tweets in the past few days, SBF explained that it was just improvising. (New York Times)
U.S. Treasury Secretary Yellen: The FTX crash exposed the weakness of the encryption industry, and the U.S. government has considered regulation
Odaily News According to SlowMist monitoring, the address of Ethereum founder Vitalik Buterin (starting with 0xe692) recently converted 3,000 Ethereum (about 4 million US dollars) into USDC in three transactions on Uniswap V3.
Industry news
Industry news
According to statistics from The Block, FTX owes more than $5 billion in cash, $1.41 billion in Bitcoin, $800 million in USDT, and $670 million in ETH, as well as loans to BlockFi, Genesis and LayerZero, totaling nearly $9 billion.
Binance will delist FTT/BNB, FTT/BTC and other spot trading pairs
Odaily News According to the official announcement, Binance will remove FTT/BNB, FTT/BTC, FTT/ETH, FTT/USDT spot trading pairs and stop trading at 12:30 on November 15th. After the transaction is stopped, all pending orders for the above trading pairs will be automatically canceled. Users can still trade in the FTT/BUSD trading pair.
Bloomberg: More than 130 FTX-related companies have sought court protection by the end of last week
Odaily News Due to the bankruptcy of FTX, as of last weekend, more than 130 FTX-related companies have sought court protection, but have not filed any court motions or explanatory documents in the large US bankruptcy case. Additionally, Bloomberg revealed that while FTX’s new CEO told clients details about the bankruptcy would be brought to court “in the coming days,” the current main court filing for both FTX and Alameda Research contains only a 23-page fill-in-the-blank petition. (Bloomberg)
"Wall Street Journal": FTX may be exempt from US legal sanctions
Odaily News, according to the "Wall Street Journal", FTX's offshore status may allow the company to avoid the sanctions of US law. The Manhattan U.S. Attorney’s Office is investigating the FTX bankruptcy, but one challenge for prosecutors is whether they have jurisdiction over the Bahamas-based FTX.
As of now, a spokesperson for the U.S. Attorney’s Office in Manhattan declined to comment on the matter. A spokesperson for FTX and FTX US General Counsel Ryne Miller did not respond to a request for comment.
Odaily News The Royal Bahamas Police Force (RBPF) issued a statement saying, "In view of the global collapse of FTX and the temporary liquidation of FTX Digital Markets Ltd., a group of financial investigators from the Financial Crime Investigation Bureau of the Royal Bahamas Police Force are working with The Bahamas Securities Commission is cooperating closely with its investigation into whether any criminal misconduct occurred." (Reuters)
FTX Japan released a client asset management status report, the company's holding balance exceeds the client's deposited assets
The Solana Foundation announced its FTX account asset details: including 3.43 million FTT and 134.54 million SRM
Odaily News The Solana Foundation disclosed FTX-related information and said: As of November 14, 2022, its assets in the FTX.com account include (as of November 6 when FTX.com stops processing withdrawals): about 3.24 million common shares of FTX Trading LTD, about 3.43 million FTT tokens, and about 134.54 million SRM tokens.
In addition, as of November 10, 2022, in terms of assets encapsulated on the Solana chain affected by the Sollet custody bridge, the total exposure value of Sollet-based assets circulating on Solana is approximately $40 million, and the status of the underlying assets is currently unknown.
Waves Founder: Alameda Research Holds Over $90 Million in Vires Finance
Waves Founder: Alameda Research Holds Over $90 Million in Vires Finance
Odaily news Sasha Ivanov, founder of Waves, founder of Vires Finance and community advisor, issued a statement stating that Alameda Research held a position of USD 90,359,718.855452 in the USDN contract of Vires Finance. Sam Trabucco, CEO of Alameda Research, also confirmed that it was minted by mortgaging WAVES USDN to short WAVES.
After the bad debts of Vires Finance occurred, Sasha Ivanov and his consultants discussed with Alameda how to solve the crisis, but Alameda refused to provide help.
Odaily news Sasha Ivanov, founder of Waves, founder of Vires Finance and community advisor, issued a statement stating that Alameda Research held a position of USD 90,359,718.855452 in the USDN contract of Vires Finance. Sam Trabucco, CEO of Alameda Research, also confirmed that it was minted by mortgaging WAVES USDN to short WAVES.
Sasha Ivanov said that ViresDAO is still working hard to restore liquidity and other goals, and Waves will try its best to help all users return their funds.
Crypto.com CEO: Exposure to FTX less than $10 million
Odaily News Crypto.com CEO Kris Marszale tweeted in response to "transferring about US$1 billion to FTX", saying that the exposure to FTX is minimal (less than US$10 million), and it is only used as a trading venue for hedging customer transactions. Never used the funds for FTX or any third-party income, and stated that Crypto.com deposited USDC in FTX to buy other tokens, and then transferred back to Crypto.com’s wallet. For the exact same reason, Coinbase in FTX also has $15M, as some FTX-related tokens (SRM, RAY, etc.) only have good liquidity on FTX.
Payments giant Visa has terminated its credit card agreement with FTX
“The situation with FTX is unfortunate and we are monitoring the situation closely,” a Visa spokesperson said. “We have terminated our global agreement with FTX and their U.S. debit card program is being terminated by the relevant issuers.”
Xinhuo Technology: Subsidiary cannot withdraw cryptocurrency assets from FTX
The Group entered into an agreement with Mr. Li Lin, the controlling shareholder and non-executive director of the Company, on November 13, pursuant to which Mr. Li agreed to provide the Group with additional unsecured financing of up to US$14 million. The Company will use shareholders' financing as and when necessary to pay the client's assets and liabilities arising from this event.
Chiliz founder: 38 million CHZ have been provided to FTX individual users for compensation
Odaily News Chiliz founder Alexandre Dreyful stated on social platforms that for individual users who hold CHZ on FTX, they can receive up to $10,000 in compensation. According to the data, 38 million CHZ are the on-chain amount of user wallets on the FTX exchange as of last week. This plan is not applicable to institutions and requires a complete legal review and liquidator’s approval to complete the user compensation list.
Voyager restarts bidding process, CrossTower revises new offer for Voyager assets
Odaily News After FTX filed for bankruptcy, Voyager announced the restart of the bidding process. According to a CrossTower spokesperson, the encryption exchange CrossTower is working on a revised offer for the assets of the bankrupt encrypted lending platform Voyager Digital. He said, "We are working on a revised offer. program, which we believe will benefit Voyager customers and the broader crypto community. CrossTower has been and will continue to be community-focused,” without specifying how much.
Odaily News BitCoke said that it learned that the person in charge of finance is under further investigation by the police, and the situation involved may improve. Other shareholders of the platform are negotiating overseas capital acquisitions in order to open withdrawal or redemption as soon as possible.
Project News
Project News
Odaily News The ATOM 2.0 proposal was not passed because the No With Veto voting ratio exceeded 33.4% (37.39% at the end). The proposal started voting on October 31, Beijing time, involving the new version of the white paper, including allowing other chains to use the Hub to protect their own network, and after a 36-month transition period, reducing the number of new ATOMs per month from index issuance to Changes such as constant quantities.
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Chain game association YGG launches new Reward Vaults
Odaily news chain game association Yield Guild Games (YGG) has launched a new Reward Vaults. Users with guild badges can pledge YGG tokens on the new Polygon Reward Vaults and get League of Kingdoms and Thetan Arena token rewards.
YGG said that the previous Reward Vaults included two projects, Aavegotchi and Crypto Unicorns, with a total of more than 3.5 million YGG tokens pledged.
Raydium: Serum has suspended market making and does not share liquidity with Serum
Odaily news Solana ecological decentralized trading platform Raydium stated that in order to limit the risk of third-party agreements, Raydium has suspended Serum market making and does not share liquidity with Serum. Currently 100% of AMM liquidity is in Raydium’s own pool. The transactions in the Raydium liquidity pool will not be affected, and the platform will suspend the function of placing orders on the Serum platform on November 21.
Solana’s ecological income aggregator Tulip Protocol suspends deposits, users can withdraw
Odaily News Solana ecological income aggregator and leveraged income farming platform Tulip Protocol announced that it has suspended loan deposits, new leveraged positions, and whirlpool deposits until the liquidity on the chain is stabilized/improved. Users can still withdraw from lending/whirlpool strategies, and manage/close out leveraged positions.
Investment and Financing
Odaily News BAYC parent company Yuga Labs acquired WENEW Labs and its NFT series 10KTF, and will work together to promote the intersection of metaverse and reality by telling creative stories and creating immersive experiences.
Yuga Labs Announces Acquisition of WENEW Labs and Its Flagship NFT Series 10KTF
Odaily News BAYC parent company Yuga Labs acquired WENEW Labs and its NFT series 10KTF, and will work together to promote the intersection of metaverse and reality by telling creative stories and creating immersive experiences.
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CZ: Binance has no liabilities, no assets in third-party custody, and no quantitative transactions
Odaily News In Binance AMA Space on the evening of November 14, Binance founder Changpeng Zhao (CZ) said: Binance’s business is very simple and transparent. We do not do quantitative transactions, we rely on fees to create profits, not transactions, and we have only invested in the equity of a market maker institution.
CZ: If there is not a considerable proportion of stablecoins in the reserves announced by the exchange, there may be problems
CZ said in detail that BUSD accounts for about 20% or 19% of Binance’s reserves, and USDT accounts for about 18%. number. When a user deposits USDC or USDT, we convert it to USD, and when they withdraw it, we convert it back and return it to the user. It is a 1-to-1 exchange.
CZ: Ready to launch a new proof-of-reserve protocol with Vitalik
I'm going to propose a new Proof of Reserve protocol with Vitalik and it's expected to take a few weeks. That's why we released all the code wallet addresses so that people can directly see the addresses of our code wallets.
Mark Cuban: Insist on investing in cryptocurrencies because I believe in smart contracts
