💥 FTX Hit By $1.2B in Withdrawals as Confidence Wavers in Exchange Giant
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Binance’s Move to Sell FTT Position Triggers 22% Plunge as FTX Scrambles to Shore Up Liquidity
By Samuel Haig
SIEGE FTX’s reserves are under siege as a wave of users withdraw their assets from the derivatives exchange after its dependency on its token FTT and its relationship with a sister company, Alameda Research, raised doubts about its financial strength.
WITHDRAWN On Nov, 8, Nansen reported that FTX users had withdrawn $1.2B worth of Ether and ERC-20 tokens from the exchange over the last 24 hours, and deposited just $540M during the same period.
Binance Plans to Liquidate FTT Stake After Report Raises Questions About Symbiosis of FTX and Alameda
By Samuel Haig
DUMP In a major development for FTX, Binance, a rival cryptocurrency exchange, is planning to dump FTT tokens on the market, according to CEO Changpeng Zhou.
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.
Aims To Address Security and Decentralization Concerns
CRITIQUES Polygon, the most popular of Ethereum’s many scaling solutions, is working to address one of its most persistent critiques and tap into the security and decentralization of Ethereum, according to its co-founders.
NFT Marketplace to Let Artists Prevent Sale of Work on Non-Royalty Sites
By Samuel Haig
TOOL NFT creators are finally getting a little financial help. At least that’s the pitch from OpenSea. On Tuesday, OpenSea, the No. 1 NFT marketplace, plans to release an “on-chain enforcement tool” that will let artists stop their work from being sold on sites that do not distribute royalty fees.
Bitcoin Keys Were Stashed in Underground Safe and Devices
DARKWEB The U.S. Department of Justice said Nov. 7 that it seized more than 50,000 Bitcoin stolen from darkweb marketplace Silk Road a decade ago.
Bebop Hopes to Win Share With No Slippage Feature
LAUNCH Bebop, a decentralized exchange built by crypto market maker Wintermute, launched Tuesday on the Polygon blockchain with an old-fashioned approach to an issue that has plagued DeFi for two years — delivering assets at quoted prices.
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A Step-by-Step Guide to Terra’s Failed Tokens
REBRANDED Following the collapse of the Terra ecosystem in May 2022, the blockchain was rebranded and hard-forked into Terra 2.0. The LUNA Classic token was a part of that rebranding, as the renamed original LUNA leftover.
Over several years, social media influencers have earned a bad rep among regulators for shilling risky and unvetted tokens to millions of investors.
Going by recent headlines and what the company says, one would assume Google is diving into crypto.
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Mistaken $1B Hack Exposes ‘Blessing and Curse’ of Web3 The cross-chain bridge provider, pNetwork, swung into damage control after its attempt to address a “misconfiguration” in its code gave the appearance of a $1B hack.
Art Gobblers’ Floor Price Drops 50% After Splashy Debut Art Gobblers, a highly anticipated NFT collection designed by Rick and Morty creator Justin Roiland and backed by Paradigm, the web3 venture capital fund, saw its floor price cut in half on Nov. 3.
What Is dYdX? DYdX is a decentralized exchange (DEX) hosted on Ethereum that enables the swap of at least 36 cryptocurrencies without know-your-customer (KYC) identity verification.
🧑💻 ✍️ 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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