What Happened on Nov. 9th|Binance to Acquire FTX, Causing Chain Reaction
CeFi
- Binance signed a non-binding LOI, intending to fully acquire FTX, said CZ. Source
- CZ: Binance will start to do proof-of-reserves. Source
- CZ: Binance has never used $BNB for collateral. Source
- SBF: FTX saw around $6 billion in withdrawals in 72 hours. Source
- FTX's U.S. subsidiary says it's not impacted by the liquidity crunch. Source
- CZ: Binance has topped up the SAFU insurance fund to $1 billion USD equivalent again. Source
- Coinbase CEO Brian Armstrong said Coinbase has no plans to acquire FTX US. Source
- Coinbase and its customers are not in any direct danger of liquidity or credit risk, said Coinbase. Source
- OKX will publish its merkle-tree proof-of-reserves within 30 days. Source
- KuCoin Johnny: protecting user funds is the top priority, merkle tree PoF will be released in 1 month. Source
- Gate.io founder: Will open up its open source solution to the industry. Source
- Tether does not have any exposure to FTX or Alameda, said Tether CTO. Source
- Circle has no material exposure to FTX and Alameda, says CEO. Source
- Crypto lending institution Nexo claims 0 net exposure to FTX and Alameda. Source
- Galaxy Digital reveals $77 million exposure to FTX in Q3 earnings. Source
- Circle CEO: FTX crisis crypto's 'Lehman Brothers' moment. Source
- Alameda Research has $12.78M loans on TrueFi and Clearpool. Source
- Amber Group pays down all outstanding loans on Clearpool. Source
- Su Zhu: Currently debating between quiet life and rebuilding new goal. Source
- Data: About 19,950 $BTC ($360 million) has transferred out FTX within the last 24 hours. Source
DeFi
- Dogechain will launch $DC staking on November 14th. Source
- Lending protocol Silo Finance launches stablecoin $XAI. Source
Metaverse & NFTs
- Lionel Messi takes a stake in NFT fantasy football game Sorare, and becomes ambassador. Source
Policy & Regulation
- French crypto prime broker Aplo has received approval from Luxembourg’s financial regulator to offer banking services. Source
- OFAC has updated its sanction designations on Tornado Cash. Source
- CFTC is monitoring FTX implosion. Source
- SBF's priority crypto bill 'dead' after FTX sells to Binance. Source
Fundings
- Blockchain intelligence firm TRM Labs raises $70M in Series B led by Thoma Bravo. Source
Binance
FTX
CZ
SBF
Exchanges
Ethereum
DeFi
Lending
Alameda Research
Coinbase
KuCoin
OKX
Tether
Stablecoins
Policy and Regulation
Fund Raising
Game
Three Arrows Capital
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