😲 Crypto Lender BlockFi Suspends Withdrawals
Hello Defiers! Here’s what we’re covering today. But first, we'd like to take a minute to thank our sponsors, who make it possible for us to send out today’s newsletter.
Hello Defiers! Here’s what we’re covering today. But first, we’d like to take a minute to thank our sponsors, who make it possible for us to send out today’s newsletter.
Aave Grants: http://aavegrants.org/thedefiant
Lumerin: https://lumerin.io/thedefiant
Radix: https://radixdlt.com/thedefiant
FTX Crisis
- Crypto Lender BlockFi Suspends Withdrawals
- Bahamas Securities Commission to Freeze and Liquidate FTX Assets
- FTX Withdrawals Resume But Only for Bahamas-Based Accounts
- SBF Surfaces With Apology and Details on FTX’s Condition
- Tether Freezes $47M USDT Stake Held by FTX
News
Markets
Podcast
Video
Trending in The Defiant
- DeFi Supporters Say FTX’s Black Box Model Shows Peril of Centralization
- FTX Crisis Shifts Into New Phase as Contagion Spreads and Investors Scramble for Cover
- Trapped FTX Users May Find Lifeline in Justin Sun
Elsewhere
- Revisiting MicroStrategy’s Pain Points as Bitcoin Tumbles: CoinDesk
- Coinbase Lays Off Over 60 Employees Amid Crypto Market Turmoil: Decrypt
- We hope this is just step one: beginning to find ways to bring liquidity to users: SBF
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FTX Crisis: Contagion
😲 Crypto Lender BlockFi Suspends Withdrawals
Platform Cites Exposure to FTX
By Owen Fernau
WITHDRAWALS BlockFi, a centralized crypto lender which pays users a return on deposits of digital assets, has paused withdrawals on its platform.
👉READ THE FULL STORY IN THE DEFIANT.IO👈
FTX Crisis: Regulators
🥶 Bahamas Securities Commission to Freeze and Liquidate FTX Assets
Beleaguered Exchange Allegedly Used Customer Funds to Bail Out Sister Concern
By Samuel Haig
FREEZE The Bahamas Securities Commission has stepped in to freeze the assets of FTX Digital Markets (FDM), Sam Bankman-Fried’s failing crypto exchange, in the latest blow to the once-mighty platform.
👉READ THE FULL STORY IN THE DEFIANT.IO👈
Sponsored Post
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FTX Crisis: Withdrawals
🇧🇸 FTX Withdrawals Resume But Only for Bahamas-Based Accounts
Tron Providing Support to FTX Users with Tron Tokens Trapped on Platform
By Samuel Haig
TRICKLING Withdrawals are once again trickling out of FTX, but only for certain customers, according to Zane Tackett, FTX’s ex-head of institutional sales. The mammoth crypto derivatives exchange, which poleaxed the market this week after suffering a crisis of confidence, is processing withdrawals solely for Bahamian accounts, Tackett said on Twitter.
👉READ THE FULL STORY IN THE DEFIANT.IO👈
FTX Crisis: SBF
🤷🏻♂️ SBF Surfaces With Apology and Details on FTX’s Condition
Embattled Crypto Head to Close Alameda; confirms $5B in Withdrawals on Sunday
APOLOGY Breaking his silence during a two-day period when the crypto market erased $131B in value, Sam Bankman-Fried finally offered up a mea culpa for the damage wrought by the murky practices at his exchange FTX, and the hedge fund he controls, Alameda Research.
👉READ THE FULL STORY IN THE DEFIANT.IO👈
FTX Crisis: Stablecoins
👀 Tether Freezes $47M USDT Stake Held by FTX
Stablecoin Recovers Parity After Slipping Peg
STABLECOIN Tether, the issuer behind the No. 1 U.S. dollar-backed stablecoin, USDT, froze almost $47M worth of USDT held by FTX exchange on the Tron blockchain. Block explorer Tronscan has traced the address with frozen assets to FTX.
👉READ THE FULL STORY IN THE DEFIANT.IO👈
Market Action
📈 Investors Bargain Hunt as Inflation Report Spurs Market Rally
Investors Bet Fed May Ease Off Rate Increases
COOLING Well that’s a relief. The crypto market rallied on Thursday after the U.S. government released data that shows inflation cooled in October to its lowest level since January.
👉READ THE FULL STORY IN THE DEFIANT.IO👈
Ethereum Wallets
🦊 MetaMask Launches Integrated Bridge Feature
Users Can Bridge Up To $10,000 Across Blockchains
BRIDGES MetaMask, the leading web3 wallet provider, has released MetaMask Bridges, a bridge aggregation service. This feature allows users to transfer their assets across multiple blockchains from within the wallet.
👉READ THE FULL STORY IN THE DEFIANT.IO👈
Shoutout
MIDAS is an internal token of Midas.Investments — a custodial staking platform that offers market-leading yields on an array of cryptocurrencies, including BTC, ETH, and USDC. Unlike other industry players, Midas has been exceptionally successful in weathering the crypto winter, avoiding liquidity issues while its native token reaches new ATH.
After the announcement of the upcoming swap to Ethereum last week, the MIDAS token has hit a new ATH of $43.65. Currently, there are more than $70 million staked in MIDAS tokens on the platform by more than 6,000 users. Stake MIDAS with 22.2% APY.
The Tube
📺 Daily Defiant: Can SBF make a comeback?
Podcast Video
🎙📺 Robinhood is coming after MetaMask with Polygon Web3 Wallets
Trending in The Defiant
- DeFi Supporters Say FTX’s Black Box Model Shows Peril of CentralizationDon’t blame DeFi. That’s the vibe running through the decentralized finance community as project teams and investors cope with the damage wrought by the meltdown of FTX, the centralized derivatives exchange.
- FTX Crisis Shifts Into New Phase as Contagion Spreads and Investors Scramble for CoverTwelve hours after Binance nixed hopes of a tidy bailout of FTX, turmoil rages in the crypto markets.
- Trapped FTX Users May Find Lifeline in Justin SunWhile many crypto traders wait with bated breath to learn the fate of their funds trapped on the failing FTX exchange, Justin Sun, the founder of Tron, may be preparing to throw a lifeline to FTX’s stranded customers.
Elsewhere
🔗 Revisiting MicroStrategy’s Pain Points as Bitcoin Tumbles: CoinDesk
MicroStrategy (MSTR) Executive Chairman Michael Saylor told CNBC he’s not straying from his strategy of buying and holding bitcoin (BTC) despite the crypto’s plunge to a new two-year low this week.
🔗 Coinbase Lays Off Over 60 Employees Amid Crypto Market Turmoil: Decrypt
Coinbase is laying off more than 60 staff in its recruiting and institutional onboarding departments, The Information reported Thursday.
We hope this is just step one: beginning to find ways to bring liquidity to users.
That is the core thing that I am fighting for right now, and will continue to fight for in whatever ways I can. https://t.co/pzTJBsytVS
— SBF (@SBF_FTX) November 10, 2022
🧑💻 ✍️ Stories in The Defiant are written by Owen Fernau, Aleksandar Gilbert, Samuel Haig, and yyctrader, and edited by Edward Robinson, yyctrader and Camila Russo. Videos were produced by Alp Gasimov. Podcast was led by Camila, edited by Alp.
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