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

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