On the Pod…
What’s Poppin’?
Genesis Global Capital, the lending arm of giant crypto investment bank Genesis Trading, has paused withdrawals over “unprecedented market turmoil.” How does it impact Gemini?
The liquidators overseeing FTX’s liquidation in the Bahamas challenged the validity of the exchange’s Chapter 11 bankruptcy filing.
El Salvador’s president, Nayib Bukele, said that the country plans to buy one Bitcoin every day.
In Other News…✍️✍️✍️
In a tell-all interview with Vox, Sam Bankman-Fried said: “f*ck regulators, they make everything worse.”
A group of investors filed a class action suit against FTX, Sam Bankman-Fried, and many celebrities that endorsed the exchange, including Larry David and Tom Brady.
Crypto exchange OKX is planning a $100 million recovery fund to support projects in need of liquidity.
US authorities are investigating the role of Binance in the collapse of FTX.
The House Financial Services Committee called on Sam Bankman-Fried to testify before on the fallout of FTX.
Three Arrows Capital cofounder Kyle Davies said that “FTX/Alameda colluded to trade against clients.”
Temasek wrote down a $275 million investment in FTX.
Team SoloMid (TSM), an esports club, suspended its 10-year $210-million sponsorship agreement with FTX.
In addition to its financial troubles, Bitcoin miner Core Scientific is being sued for allegedly providing false information to shareholders.
Circle, the issuer of USDC, said in an SEC filing that it holds $10.6 million in equity investments related to the FTX Group.
Today in Crypto Adoption...
Global entertainment giant Sony applied for a patent to use NFTs in video games.
The $$$ Corner…
Matter Labs, the entity behind Ethereum scaling solution zkSync, raised $200 million in a Series C round led by Blockchain Capital and Dragonfly co-led.
What Do You Meme
📈 Your Market Update 📉
BTC: $16,7526
ETH: $1,188
BTC dominance: 37.18%
Crypto market cap: $854 billion
*All data as of today, 5 am ET
Recommended Reads
Sekure D, founder of the Roghbosts, on Dot Swoosh, Nike’s digital platform:
Keyboard Monkey on how to play this market:
Astral Codex Ten on the psychopharmacology of the FTX crash:
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