What Happened on Nov. 10th|FTX Plans Fundraising Next Week After Binance Walked Away

TI Research

On November 10th, Binance announced the decision to abandon acquisition of FTX as a result of due diligence. Cobie disclosed that SBF said FTX will conduct a raise next week. SBF announced FTX currently has a total market value of assets/collateral higher than client deposits (moves with prices). Alameda Research is winding down trading. US Justice Department is investigating FTX. Japan's Financial Services Agency has ordered FTX's local unit to suspend operation. Tether has frozen $46 million of $USDT on the Tron blockchain following a request from law enforcement.

CeFi

  • SBF: FTX currently has a total market value of assets/collateral higher than client deposits (moves with prices). Source
  • Cobie: SBF says FTX will conduct a raise next week. Source
  • Binance announces the decision to abandon acquisition of FTX as a result of due diligence. Source
  • CZ: El Salvador doesn't have any Bitcoin in FTX. Source
  • TRON DAO Reserve announced purchase of 1 billion USDT. Source
  • FTX failed to report the most recent token burn. Source
  • FTX faces up to $8B shortfall, and bankruptcy is likely without a cash injection. Source
  • Binance shared details of its hot and cold wallet addresses. Source
  • SBF transferred at least $4B to Alameda Research including customer deposits, Reuters reports. Source
  • Crypto lender Hodlnaut had $18m on FTX before the withdrawal freeze. Source
  • Su Zhu: Alameda has been internalizing FTX client liquidations for years. Source
  • Bakkt has reported a net loss of $1.5 billion for the third quarter. Source
  • JPM Strategists: Crypto deleveraging set to take few weeks. Source
  • Sequoia Capital: Strictly reviewed when investing in FTX. Source
  • Kraken said it has no exposure to Alameda Research. Source
  • Polychain Capital didn't invest in FTX or $FTT, says the founder. Source
  • Celsius files a motion to extend submission time for reorganization plan. Source
  • Coinbase adds Vulcan Forged ($PYR) to its listing roadmap. Source

DeFi

  • Avalanche Foundation has "no significant exposure" to FTX or Alameda. Source
  • Solana Labs didn't have any assets on FTX, says co-founder. Source
  • No Aptos Labs or Aptos Foundation treasury is held by FTX, says Aptos. Source
  • NEAR Foundation has "minimal exposure" to FTX and Alameda. Source
  • Maker Protocol has executed 26 liquidation auctions. Source
  • 28.5M $SOL has been re-staked, says Solana Foundation. Source
  • StarkNet Foundation announces its official launch. Source
  • DCA protocol Mean Finance is live on Arbitrum. Source

Infrastructure

  • Multiple data providers remove FTX as a data source, says Chainlink. Source
  • Band Protocol has removed FTX from data sources. Source
  • Helium will still be migrated to Solana, says Helium founder. Source
  • MetaMask launches bridge aggregator MetaMask Bridges. Source

Metaverse & NFTs

  • OpenSea will continue to enforce royalties on existing collections. Source
  • Animoca Brands will introduce NFT licenses to ensure royalties are enforceable. Source

Policy & Regulation

  • Japan's Financial Services Agency has ordered FTX's local unit to suspend operation. Source
  • Tether has frozen $46 million of USDT on the Tron blockchain following a request from law enforcement. Source
  • US Justice Department is investigating FTX. Source
  • US financial regulators are investigating FTX over handling of client funds and lending. Source

FTX

SBF

Binance

CZ

Ethereum

Bitcoin

NFT

DeFi

Lending

Fund Raising

Stablecoins

USDT

Solana

Coinbase

Sequoia Capital

Polychain Capital

Policy and Regulation

Public Chain

Alameda Research

Exchanges

OpenSea

Animoca Brands

TI Research

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