WuBlockchain Weekly:FTX Collapse 、CEX PoR、CPI and Top10 News
Top10 News 1、FTX filed for Chapter 11, SBF resigned link FTX Group Companies Commence Voluntary Chapter 11 Proceedings in the United StatesBegin Orderly Process to Review and Monetize Assets for Benefit of Global StakeholdersJohn J. Ray III Appointed Chief Executive Officer; Sam Bankman-Fried Resigns 2、FTX Has Been Hacked,Sees Mysterious Outflows Exceeding $600M link 3、Jason Choi provides a pessimistic forecast of the fallout from the FTX event link Jason Choi, a former partner at Spartan Capital believes that users of FTX international will only get about 1% of their assets in 5-10 years because no one but Alameda will buy FTX junk assets; institutional investors will lose confidence in cryptocurrencies in the next few years and regulators will use the "FTX crash = bad cryptocurrency" argument to force tough legislation on crypto. Most projects launched/funded after 2021 will not be able to refinance, along with a massive brain drain. 4、Binance Starts Recovery Fund for Crypto Projects Facing Liquidity Crisis link Binance CEO Changpeng "CZ" Zhao says that his exchange is setting up an industry recovery fund to help rebuild the industry.Tron founder Justin Sun said that Tron, Huobi Global and Poloniex will support Binance in its initiative. Huobi Global also confirmed this in a tweet. 5、Genesis’ Crypto-Lending Unit Is Halting Customer Withdrawals in Wake of FTX Collapse link This week Genesis suspended withdrawals and new loan originations, and the official explanation of why is that the default of 3AC had a negative impact and FTX caused unprecedented market turmoil, resulting in unusual withdrawal requests that exceeded our current liquidity. 6、BlockFi Prepares for Potential Bankruptcy as Crypto Contagion Spreads link Crypto lender BlockFi is planning to lay off some employees and file for Chapter 11 bankruptcy protection. This follows an announcement by BlockFi that it has significant exposure to FTX and related companies, including debts owed to it by Alameda, assets held at FTX com, and undrawn amounts on its line of credit with FTX US, and will therefore continue to suspend its platform activities. 7、Most exchanges have announced reserve cold wallets, and only three mainstream exchanges have not yet done so: Gate\MEXC\Bitget link 8、Bitcoke & AAX crashed link This week, BitCoke said it was suspending withdrawals due to the cooperation of the financial officer with the investigation, but later said it understood that the financial officer was under further investigation by the police and the situation involving the case might improve. In addition, the AAX exchange suddenly announced the suspension of all operations, including trading and coin withdrawals, stating that "the current system upgrade requires our third-party partners to proofread and restore asset data for all users. Due to the current market conditions, the integration is taking longer than usual and is currently in queue for completion within 7-10 days". 9、U.S. October unadjusted CPI 7.7%, annualized Core CPI 6.3 % annualized According to Jin10, the U.S. unadjusted CPI for October was 7.7%, compared with 8% expected and 8.2% previously. U.S. October unquartered core CPI annual rate of 6.3 %, expected 6.5 %, the previous value of 6.6 %. After 7 months, it fell below 8% again, the smallest increase since January 2022. 10、Vitalik released the latest roadmap for Ethereum link Last week, Vitalik released the latest roadmap for Ethereum, adding The Scourge, a key route focused on addressing transaction review and MEV risk, to the previous five key routes. It is worth noting that these six key routes are being advanced simultaneously. Fundraising
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Written By: Colin Wu Before the FTX empire collapsed, 99.9 per cent of us thought: maybe he had a lot of connected parties, maybe he was expanding too fast, but a collapse was "not so likely"
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Monday, November 14, 2022
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