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π§ The Weekly Round-Up
We put you on to some juicy resources
GM Seedphrase Nation π Welcome to the weekly round-up. To Ketchup you on everything you missed this week.
First, let us know what you want to see more of:
I like newsletters that are |
If we have to talk about FTX one more time, we're going to start billing SBF...
This video will show you every side of SBF from:
Video gaming MIT student
Rise of a genius trader
Altruistic billionaire
Con man & resignation
Nike announces their web3 platform and ecosystem is set to launch today.
Built on the Polygon chain (another bullish sign for Polygon)
NFTs starting as low as $50
The truth is: NO ONE is safu on centralized exchanges.
Binance Users are suspended from these deposits on the Solana network
No detailed reason was given other than "recent industry events."
CEO of Circle questions this move: "not clear what the motivations are..."
Be careful on CEX's, even Binance.
π¨ π¨ π¨ π¨ π¨ π¨ π¨ π¨ π¨ π¨ 500,000,000 #USDT (499,999,663 USD) transferred from unknown wallet to #Binance
whale-alert.io/transaction/trβ¦
β Whale Alert (@whale_alert)
11:48 PM β’ Nov 17, 2022
If you are holding USDT, especially on a CEX like Binance, swap it out. (NFA)
These are uncertain times, and things could still get a lot worse.
Trust no one. Not even CZ.
Today's email is brought to you by:
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JUST IN: Republicans retake control of the House in the United States, forcing Nancy Pelosi to resign.
β CryptoVinco (@CryptoVinco)
12:22 AM β’ Nov 17, 2022
This could be good news for crypto as Republicans like Ted Cruz have become supporters of Bitcoin
It could also mean a very hard time for any type of legislation to pass since neither side can agree on anything. This is a win for crypto- we'd rather no regulation than death by regulation.
While most are bleeding out, Yuga is still going strong
Acquisition shows a healthy amount of funds in the company
Bullish: Yuga has been quietly building up its portfolio.
What will Yuga do with the flagship NFT collection 10KTF? (they bought that too)
The Contagion Spreads: The FTX Saga
people are panicking, obviously, so they want their money OUT.
creating a bank run dilemma
Gemini is likely to fall soon as they won't be able to keep up with withdrawals
Sorry ladies, but you just got rug pulled.
Up to $1.5 million worth of Coachella NFTs appear to be "disabled" after FTX bankruptcy
Fyre festival vibes: will Coachella go-ers be scared of web3 forever after this rug?
Still waiting for Solana Summer?
Solana is down more than 41% in a matter of one week
FTX was a huge backer of Solana, so naturally they are in deep pain now.
Still bullish: The value Solana provides hasn't gone away; this is just a reaction to market circumstances.
We believe Solana is a solid project. And we're not the only ones:
Did everyone suddenly forgot that Google announced they are a Solana validator this week!?!
β Mario Nawfal (@MarioNawfal)
12:00 AM β’ Nov 10, 2022
Genisis halted withdrawals, citing FTX collapse
complete stop on providing any new loans at the moment
huge market impact: Genisis is a whale of a lender. Dylan LeClair, one of the most respected in the game, details how painful this could be to the market.
I think people are missing how big the Genesis news is; one of the biggest lending desks in the space.
Not only does the withdrawal halt lead to more balance sheet impairment, but the lack of new loan origination going forward will lead to a financing crunch for debtors.
β Dylan LeClair π (@DylanLeClair_)
7:17 PM β’ Nov 16, 2022
Between 25% and 40% of cryptocurrency-focused hedge funds had some level of direct exposure to FTX or FTT. The losses may be over $1 billion and possibly as much as $5 billion. Crypto Fund Research told Blockworks.
β Wu Blockchain (@WuBlockchain)
1:58 AM β’ Nov 15, 2022
We saved the best for last. Here are the leaked SBF DM's in case you missed it:
the lack of human emotion in this text exchange is shocking...
Entering the mind of a genius (pronounced sociopath)
how does SBF not have a lawyer to stop him from doing these things
resources hub β‘οΈ
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research
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