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LensLinks: SPECIAL EVENING EDITION (No. 27)

LensLinks: SPECIAL EVENING EDITION (No. 27)

SPECIAL LATE EDITION, brought to you by Regiment LLC

Len Pacek
November 08, 2022

Today in LensLinks:

"For the good of the industry"? CZ vs. SBF... FTX Stops Withdrawals... Alameda offers to buy Binance FTT @ $22 (nix)... "Crypto Bank Run"... FTT falls... Binance to Buy FTX... Yikes!
And much, much, more... (if you're not just reading about "Crypto Wars")

QUOTABLE...

“Whether this blows over quickly or not remains to be seen. But regardless of how it ends, it’s another blow against the industry (and financial institutions in general) simply for a lack of voluntary transparency, but it’s another giant check mark for the transparency of blockchain data and the skilled researchers trained to uncover, read, and interpret this data."

—Jeff Dorman, chief investment officer at crypto hedge fund Arca

NOTABLE...

Binance Triggers Liquidity Crisis, Then Acquires Bankman-Fried's FTX

Sam Bankman-Fried’s Twitter account has posted a thread claiming that Binance has bought competing exchange FTX.

https://blockworks.co/binance-triggers-liquidity-crisis-then-acquires-bankman-frieds-ftx-crypto-exchange/

Sam Bankman-Fried’s Twitter account has posted a thread claiming that Binance has agreed a deal to buy FTX, the exchange that he had built into a global crypto titan.

The native token of Sam Bankman-Fried’s cryptocurrency exchange FTT is soaring following disclosure of the alleged impending Binance buyout, and has recovered from a low of $14.57 to over $19 at the time of writing — a 36% recovery.

Metaverse & Gaming

Metaverse Market Analysis: October 2022 - NFT Plazas

Weekly and monthly metaverse market analysis reports in collaboration with OneLand. Get the latest stats and data every Monday.

https://nftplazas.com/metaverse-market-analysis-october-2022/

Highlights:

Decentraland and Otherside pull VRE land caps to the downside.

Cheaper land prices invite renewed interest in OG projects Decentraland, The Sandbox, Somnium Space and Otherside.

Worldwide Webb has a sluggish October, but then gears up for big things as its Alpha game opens to the public on Halloween!

Blockchain, Tokens & DeFi

FTX, Binance Deal Draws Antitrust Concern

Regulators have tough powers to stop mergers that quash competition

https://www.coindesk.com/policy/2022/11/08/ftx-binance-deal-draws-antitrust-concern/

Crypto exchange FTX seems to have stopped processing withdrawal requests, according to on-chain data.

The proposed sale of FTX’s non-U.S. business to Binance, announced Tuesday amid concerns over stability at FTX, has drawn concerns of antitrust retaliation in the U.S. and elsewhere.

Regulators across the world have the power to block major mergers if they fear they would limit market choice, and also have strict laws against anti-competitive behavior. Binance is the world’s largest crypto exchange by volume, while FTX is within the top five, according to data site CoinGecko.

Binance Chief Executive Changpeng “CZ” Zhao and FTX boss Sam Bankman-Fried tweeted news of the plans on Tuesday, drawing immediate questions over compliance with antitrust laws.

Crypto Trading

Here’s What Crypto Traders Expect From the Midterms

Republicans are increasingly confident they will take control of the U.S. Congress and it could be bullish for crypto, according to some analysts and traders.

https://www.coindesk.com/markets/2022/11/07/heres-what-crypto-traders-expect-from-the-midterms/

After two years of Democratic Party control of the U.S. presidency and both legislative chambers, Republicans look poised to take control of the House of Representatives and maybe the Senate in Tuesday’s midterm elections.

The state of the economy plays a big role in whether people are happy with their government. Right now things could be better, with inflation still roughly four times the Federal Reserve’s 2% target. Republicans have pinned much of the blame on President Joe Biden and his coronavirus pandemic stimulus packages.

Metaverse & Gaming - A Little More...

AAA gaming companies will look like peanuts as GameFi evolves: Skale CEO

Blockchain-based games and metaverse projects are thriving in a crypto winter that has knocked many players down.

https://cointelegraph.com/news/aaa-gaming-companies-will-look-like-peanuts-as-gamefi-evolves-skale-ceo

Your Future Road Trips Could Be in the Metaverse Thanks to VR

VR company, holoride, is launching a virtual reality experience for moving vehicles, which some experts say could point to how we might experience rad trips in the future—in the metaverse.

https://www.lifewire.com/your-future-road-trips-could-be-in-the-metaverse-thanks-to-vr-6826199

Exclusive Interview With Trace Team: Drive-to-earn Initiative

To answer all these questions, we spoke with team Trace and here is the summary of the interview.

https://www.outlookindia.com/outlook-spotlight/exclusive-interview-with-trace-team-drive-to-earn-initiative-news-235559

Blockchain, Tokens & Defi - A Little More...

Proposed tie-up sends shockwaves through crypto markets | CNN Business

In an unexpected twist, the cryptocurrency exchange Binance said it is buying its smaller rival FTX after the firm faced a liquidity crisis that rattled digital assets and sparked contagion fears.

https://www.cnn.com/2022/11/08/business/crypto-ftx-binance-bankman-fried-zhao

Could this Global Financial Watchdog Cripple DeFi? - Tokenist

The FATF could add countries that fail to implement anti-money laundering guidelines for digital assets to a “grey list.”

https://tokenist.com/could-this-global-financial-watchdog-cripple-defi/

Buterin Reveals New Roadmap for Ethereum, Big Eyes Coin Raises $9.64M in Presale

As the year 2022 draws to a close, blockchain networks are working hard to boost the value and market capitalization of cryptocurrencies in the aftermath of the repeated collapses that happened during the spring/summer.

https://www.bitrates.com/news/p/buterin-reveals-new-roadmap-for-ethereum-big-eyes-coin-raises-964m-in-presale

Crypto Trading - A Little More...

The Story of Sam Bankman-Fried’s Backroom Deal With Binance’s CZ

Binance, after exacerbating a bank run on rival crypto exchange FTX, offered to buy out the jewel in SBF's crown.

https://www.coindesk.com/layer2/2022/11/08/the-story-of-sam-bankman-frieds-backroom-deal-with-binances-cz/

Crypto Markets Take a Wild Ride Following Surprise Binance/FTX Deal

Investors are seeking answers to a multitude of questions about the mega deal involving the 2 crypto exchanges. Will price volatility continue beyond Tuesday?

https://www.coindesk.com/markets/2022/11/08/crypto-markets-take-a-wild-ride-following-surprise-binanceftx-deal/

Stocks Extend Rally Despite Crypto Woes; Election Results Due

Republicans are set to win back at least partial control of Congress.

https://www.investors.com/market-trend/stock-market-today/dow-jones-extends-rally-despite-crypto-meltdown-midterm-election-results/

Nomura Unit Preparing to Trade Crypto, Boost Staff by 45%

Japanese brokerage giant Nomura established its own crypto unit, Laser Digital, earlier this year. Now, it's ready to expand.

https://blockworks.co/nomura-unit-laser-digital-preparing-to-trade-crypto-boost-staff/

ESG (Environment, Social & Governance)

Midterm Election Results Could Delay SECURE 2.0 | PLANADVISER

A shift in Congressional power in Washington to Republicans could delay passage of SECURE 2.0 and push Democrat's ESG and cryptocurrency efforts to administrative tactics, experts say.

https://www.planadviser.com/midterm-election-results-delay-secure-2-0/

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Disclaimer: This note is distributed by Regiment, LLC for informational purposes only and is sourced from publicly available media reports. It is not an investment recommendation or solicitation for any investment. The information is current as of date and subject to change. In such case Regiment, LLC does not undertake to provide any updates. Recipients must be aware that any private, alternative investments discussed are speculative in nature, often illiquid, and subject to loss of capital.