😲 Crypto Lender BlockFi Suspends Withdrawals
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FTX Crisis: Contagion
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.
FTX Crisis: Regulators
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.
The Knights Who Say Nah is the brainchild of Nick Richey, who is not only an award-winning indie screenwriter and director but also the Keeper of Arms of the largest private collection of arms and armor in the world. Knights marries Nick’s love of media and antiquities, resulting in a multi-platform media company on a mission to democratize access to the world of ancient artifacts.
Knights has pioneered photogrammetry techniques to take one-of-a-kind ancient objects and bring them to the metaverse in 3D, bringing you up-close and personal with each sword, rapier, battle helmet, and beyond. The project will kick off with four culture “drops,” each release representing a different ancient warrior culture. Each drop will include a limited release of 2D collectible avatars and 3D collectible artifact NFTs.
This month, the Knights will open the doors to their carefully constructed universe. Token holders will receive a challenge to “Slay The Dragon,” access to a hidden writers' room with exclusive first-look access to first draft scripts and concept art, and vote on important decisions regarding the collection. To take your first step into the immersive, multi-cultural Knights universe, follow @KnightsSayNah on Twitter, join the Knights Discord, and visit knightssaynah.com.
FTX Crisis: Withdrawals
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.
FTX Crisis: SBF
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.
FTX Crisis: Stablecoins
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.
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.
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.
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.
Trending in The Defiant
DeFi Supporters Say FTX’s Black Box Model Shows Peril of Centralization Don’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 Cover Twelve 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 Sun While 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.
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 is laying off more than 60 staff in its recruiting and institutional onboarding departments, The Information reported Thursday.
🧑💻 ✍️ 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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