Monday November 14, 2022
Your Weekly Update On All Things Crypto
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FTX Fiasco Continues, Crypto Market Fraught With Contagion...
After much back and forth, Binance initially signed a non-binding letter of intent to acquire FTX, adding a surprising twist to the public feud between the worlds two biggest cryptocurrency exchanges, which contributed to a drop in the value of several tokens across the market. However, while the firms agreed to not disclose the deals value until the due diligence process was completed, certain revelations have since led to Binance reportedly backing out of the deal. Noted Again For Unintentional Crypto Transfers...
The collapse of FTX highlighted the importance of proof of reserves in mitigating risks and increasing investor confidence, prompting leading cryptocurrency exchanges to publicly list their hot and cold wallet addresses.

US Department Of Justice Just Seized 50,676 Bitcoin...
Following a US Department of Justice raid, a large amount of stolen crypto was discovered in a popcorn tin. According to the DOJ, this was the second biggest financial seizure in recorded history. Moreover, after the seizure, the United States government now holds over 214,000 BTC, making up more than 1% of the total capped BTC supply.

Binance Announces Sale Of FTT Token And Troubles Ensue...
Binance and FTX clashed recently after Binance CEO Changpeng Zhao tweeted that his exchange would gradually withdraw billions of dollars in FTX's native token, FTT, due to certain revelations that have come to light.
As speculation about the solvency of billionaire Sam Bankman-Frieds crypto exchange grew over the weekend

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Bitcoin Plummets On FTX/Alameda Insolvency News
ETH/BTC Signals Short Term Decline As Bears Take Hold
HOW Did THIS Coin Make A Huge Comeback?

FTX MASSIVE Crypto Fraud Just Got Worse…

FTX Insolvent?! Craziest Week in Crypto EVER!! The Latest!!
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We at CryptoWeekly are not Financial Advisors. None of the content or opinions expressed in this newsletter should be considered financial advice. We highly recommend that you do your own research before investing in any project within or outside the cryptocurrency space.