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FTX
Major Cryptos Plunge Over the Weekend Amid FTX Collapse
Bitcoin (BTC) slipped 2% but held above its recent $16K support while other major cryptos dropped significantly. Wave Financial’s Head of Protocol and Treasury Management Nauman Sheikh discusses the impact of FTX’s collapse on the broader crypto markets. Plus, insights on Grayscale’s Bitcoin Trust (GBTC) shares trading at a discount of 45% below the net asset value. CoinDesk is an independent subsidiary of Digital Currency Group (DCG), which also owns Grayscale.
FTX Owes $226M to Its Largest Creditor; Total of About $3.1B Owed to Top 50 Creditors
FTX’s largest creditors have claims ranging from hundreds of millions to tens of millions of dollars, according to a recently filed court document. The identities of these creditors are not disclosed, but collectively they are owed approximately $3.1 billion. CoinDesk Global Policy & Regulation Managing Editor Nikhilesh De discusses the latest in FTX’s bankruptcy. Plus, reaction to new FTX CEO John Ray’s compensation.
Tom Brady, Gisele Bündchen and Other Celebs Named in FTX Lawsuit
High-profile celebrities including Tom Brady, Stephen Curry and Larry David were named as defendants in a lawsuit for their roles in promoting crypto exchange FTX. The lawyer behind the suit, Adam Moskowitz of Moskowitz Law Firm, discusses the legal considerations of the case and the outlook for celebrity crypto endorsements.
What FTX Fallout Means for VC Funding in Crypto
In Q3 of this year, venture capitalist funding for crypto startups hit a new low in 2022, at roughly $5.5 billion in fundraising, according to Galaxy Digital. Dragonfly Capital Partner Tom Schmidt discusses the impact of crypto exchange FTX's collapse on the industry and outlook for investments in DeFi and NFTs amid crypto winter.
First Mover Americas: FTX Faces Whopping Claims, Ackman's Hot for Helium
The latest price moves in crypto markets in context for Nov. 21, 2022.
New FTX CEO Paid $1,300 an Hour, Court Filings Show
Other execs are billing $975 per hour, but the fees pale in comparison to the typical overall costs of corporate restructuring.
FTX Japan Preparing to Allow Withdrawals by Year End: Report
The payment system for withdrawals is still suspended for now.
FTX Owes Its Largest Creditor $226M; Top 50 Owed Total of About $3.1B
A court document filed over the weekend doesn't name the creditors.
First Mover Asia: Cryptos Dive Deep Into the Red
ALSO: Sam Reynolds writes that the crypto industry might be better off in the long run if some major initiatives wind down.
Crypto Markets Are Suffering – but Is It Really ‘Contagion’?
Sure, this crypto credit contagion is bad, but it’s unlikely to spread to other markets.
