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  • 11/7/23: Is FTX Coming Back From The Grave? 🪦🧟‍♂️🏦

11/7/23: Is FTX Coming Back From The Grave? 🪦🧟‍♂️🏦

Author

Valko
November 07, 2023

Top News

  • 🪦 Proof Group is one of several bidders seeking to re-launch FTX

  • 🧟‍♂️ BAYC founder buys zombie CryptoPunk for $1.1M

  • 🏦 Moody’s launches stablecoin service using AI to predict depeggings

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FTX Relaunch Effort Includes Celsius Winner Proof Group, Sources Say

Plans to bring Sam Bankman-Fried's crypto exchange back to life include the Silicon Valley investment firm Proof Group, which was part of the Fahrenheit consortium that successfully bid for bankrupt cryptocurrency lender Celsius.

⌐◪-◪ → Re-launching FTX sounds like a nightmare, but given the strong interest from bidders - there must be something of value there. I reckon its primarily the company’s list of over 9 million customers; however, maybe theres somethign else of value in FTX’s tech stack, minus the infamous allow_negative flag.

GordonGoner.eth, co-founder of Yuga Labs, makes historic purchase of Zombie CryptoPunk

Wylie Aronow is one of the four co-founders of Yuga Labs, the company behind Bored Ape Yacht Club.

⌐◪-◪ → This CryptoPunk sale is the 2nd largest one this year, see the top 4 here. While Gordon has been dealing with health issues the past year and has taken a step back from Yuga, this purchase still carries a lot of weight. Its a nod to the legendary collection that is CryptoPunks by one of the most influential people in the NFT space. I wonder what else he plans to buy?

Moody’s unveils service that uses AI to predict stablecoin depeggings

Moody’s Analytics’ new Digital Assets Monitor will present a variety of data on leading stablecoins and use AI to predict depeggings.

⌐◪-◪ → Stablecoins are getting a lot of attention these days. Given Moody’s iconic and trusted reputation on Wall Street, their entrance to web3 should boost investor confidence and drive new demand for crypto. In 2023 alone, there 609 depegging events. Moody’s has without a doubt found a real problem here. Cool to see AI & Crypto coming together too.

Peripheral Vision

⛓️ Crypto & DeFi

  • Coinbase adds 4 national security experts to its Global Council

  • OKX exchange approaches Binance’s active user count

  • Kraken is considering building its own layer 2

  • Ava Labs lays off 12% of staff to reallocate resources

  • Arbitrum DAO divided over $2.4M Research Coalition

  • Mantle & Ondo Finance launch RWA-backed USDY yield token

  • Evmos plans to end support for Cosmos transactions

  • Infamous Pauly0x attacks “stalker” IRL

  • SBF’s ex, Caroline Ellison, was on an episode of the cartoon “Arthur”

🏦 Wallstreet & VC

  • Cathie Wood’s Ark Invest sells $3.8M GBTC and buys $5.6M Block

  • Michael Saylor outlines 3x major catalysts for Bitcoin bull run

  • Due raises $3.3M led by Semantic for payments platform

  • StablR raises €3.3M to expand euro-backed stablecoin business

🏛️ Legal & Regulatory

  • Ripple (XRP) has a 90% chance of winning SEC lawsuit

  • SEC struggling to hire crypto experts due to their “no crypto” rule

🌎 Rest of the World

🖼️ NFTs & Metaverse

  • CoolCats partners with Animoca Japan on upcoming manga series

  • Decrypt breaks down all The Simpsons NFT reference in new article

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