LensLinks: Issue 28

A blockchain news roundup, brought to you by Regiment LLC

Author

Len Pacek
November 09, 2022

Today in LensLinks:

  • FTX Fallout - The Latest

  • Proposed Tie-Up Sends Shockwaves

  • What About FTX’s Push for US Crypto Clearing?

  • FTX Token Plunges 80%

  • Why FTX is Not Lehman Brothers

  • And Much, Much More (including non-FTX stuff)...

QUOTABLE...

“I’m actually shocked by this. FTX failing … would be kind of like a Lehman Brothers event for the space. But if they have been successfully bailed out, then that would probably head things off at the pass.”

- an unnamed industry executive speaking to CNN Business

NOTABLE...

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

The announcement stunned crypto investors, as a tie-up between the two largest crypto exchanges by volume would mark a tectonic power shift in the industry.

 Metaverse & Gaming

Ajit Mohan Vice President and MD of Meta- India, sheds

Ajit Mohan, the Managing Director and Vice President of Meta- India is portraying immense faith in the next-generation interactive...

https://www.businessoutreach.in/ajit-mohan-vice-president-and-md-of-meta-india-sheds/

The world is tuning to the channel of development and innovation and the metaverse is emerging as a magnificent creation of modern technology. The sheer realism plotting the potential of the metaverse seems to disrupt the natural order of communication, forms of entertainment, a system of education, and the global economy.

 Blockchain, Tokens & DeFi

FTX’s Push for US Crypto Clearing Left In Suspense By Binance Deal

The fate of FTX U.S. Derivatives’ application for the authority to clear customers’ crypto transactions – a potential game changer in U.S. markets – is now unclear.

https://www.coindesk.com/policy/2022/11/08/ftxs-push-for-us-crypto-clearing-left-in-suspense-by-binance-deal/

The crypto industry has eagerly watched for a decision from the U.S. Commodity Futures Trading Commission to allow FTX to directly clear its customers’ derivatives transactions, but that market-shaping application has entered murky territory.

The potential Binance deal to acquire FTX leaves the ownership of the applicant – FTX US Derivatives – in flux, raising questions about whether and how the effort will proceed. The company’s application, if approved by the regulator, could upend the way margin-backed derivatives trades are cleared, cutting out the long tradition of clearing houses in those markets.

Crypto Trading

FTX's token plunges 80% on liquidity concerns, wiping out over $2 billion in value

FTT, the native token of crypto exchange FTX, lost most of its value on Tuesday, following news that rival Binance had plans to acquire the company.

https://www.cnbc.com/2022/11/08/ftxs-ftt-token-plunges-80percent-wiping-out-over-2-billion-in-value.html

KEY POINTS

FTT, the token native to FTX, lost most of its value on Tuesday, after rival Binance, the world’s largest cryptocurrency firm, announced plans to acquire the company.

The coin fell from about $22 on Monday to below $5, wiping out more than $2 billion in a day.

Metaverse & Gaming - A Little More...

This Mindcraft Map Might Reveal Your Ultimate Superpower: Dyslexia

Well, that's one way to screen

https://musebycl.io/health/mindcraft-map-might-reveal-your-ultimate-superpower-dyslexia

Binance adds Naira trading gateway

The world’s biggest cryptocurrency exchange firm, Binance, announced on Monday, November 7, 2022, that it will now allow naira deposits and withdrawals on the exchange. Through this, Nigerian traders can deposit and withdraw the local currency from their Binance Wallets. Adding a fiat gateway for the naira is one of the […]

https://cryptotvplus.com/2022/11/binance-adds-naira-trading-gateway/

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

Why FTX is Not Lehman Brothers

Famous last words, some might say, but cryptos have gone through enough experiences to establish to some level of a

https://www.trustnodes.com/2022/11/08/why-ftx-is-not-lehman-brothers

Crypto fans should get behind Elon Musk’s subscription model for Twitter

Twitter's subscription model is a step toward decentralization, and it will better align incentives between content creators and consumers.

https://cointelegraph.com/news/crypto-fans-should-get-behind-elon-musk-s-subscription-model-for-twitter

Crypto Trading - A Little More...

Why cryptocurrencies went into free fall overnight

A billionaire feud has spilled over into the crypto market and it's causing chaos.

https://www.fool.com.au/2022/11/09/why-cryptocurrencies-went-into-free-fall-overnight-usfeed/

"People have legitimate reason to worry": Crypto industry insiders react to Binance's intent to acquire FTX

https://www.morningstar.com/news/marketwatch/202211081062/people-have-legitimate-reason-to-worry-crypto-industry-insiders-react-to-binances-intent-to-acquire-ftx

US midterm elections results raise hope for an extended market rally: Crypto smashed – ShareCafe

Lauren Hayes from Finance News Network with a look ahead to today's ASX trading session.

https://www.sharecafe.com.au/2022/11/09/us-midterm-elections-results-raise-hope-for-an-extended-market-rally-crypto-smashed/

ESG (Environment, Social & Governance)

The Future of Crypto With The Founder of Carbon Neutral Blockchain 5ire

With years of experience in the blockchain industry, serial entrepreneur Vilma Mattila is now on a mission to make blockchain more sustainable. Lawyer

https://therecursive.com/the-future-of-crypto-with-founder-of-carbon-neutral-blockchain-5ire/

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