"Trust yourself, you know more than you think you do."
 – Benjamin Spock

Powered by Forward - Finally, a doctor dedicated to your long-term health

FOLLOW DAT MONEY! $4.6B

Guess what day it is? Humpday! Folks, actually it's wacky Wednesday as the FTX Drama is looking worse than the CeFi contagion. All of the news is focused on the impact of the FTX implosion and it's spread across various parts of the industry which you can see outlined below. Many called for below $17K and it appears they were correct - $14K is in play. The mid-terms did nothing to help the situation with the battle for control still lingering; it appears the only red wave was in the Crypto markets. CPI data comes up in a couple day so this rollercoaster ride isn't over. 

Podcast of the Day: BTC103: Bitcoin Policy Update w/ Jason Brett (Bitcoin Fundamentals)

READ

FTX DRAMA

     Market Price

• FTX-Binance Drama: FTT Loses $2.5 Billion In Market Value – Going For Nil? (Bitcoinist | BIC | TDH)
• Crypto market bleeds out $100 billion in FTX drama aftermath (Finbold)
• FTX Users Band Together: ‘Had Entire Net Worth On There, Oops’ (Blockworks)
• Crypto Markets: Be Aware of the Falling Knife (BIC)
• Bitcoin price risks $17K amid claim Binance may reject FTX takeover (Cointelegraph)

     FTX & Binance

• Binance tops up SAFU fund at $1 billion amid price fluctuations (Cointelegraph | TB | NewsBTC)
• FTX founder Sam Bankman-Fried removes ‘assets are fine’ flood from Twitter (Cointelegraph | TB)
• Alameda Research FTT token transfer from September fuels wild speculations (Cointelegraph)
• Binance Proof-of-Reserve pledge gains support following FTX crisis (Cointelegraph)
• Binance CEO says he didn't 'master plan' FTX's collapse (TB)
• Binance spot volume dominance jumps to 71% amid FTX freeze (TB)
• How the Fall of Washington’s Favorite Crypto Billionaire Will Change Regulation (Blockworks)

     Buyout

• How an FTX buyout benefits Binance (TB)
• Binance and FTX: What Are the Odds on the Buyout Going Ahead? (BIC)
• FTX acquisition could grant Binance control over 80% of global crypto market (Finbold)
• FTX Collapses, Binance Prepares Takeover: Why Is This Dangerous for Crypto? (UToday)
• Singapore state investor Temasek engaging with FTX as a shareholder: Reuters (TB | EWN)
• Binance Unlikely To Go Through With FTX Purchase After Reviewing Company Books (Bitcoinist)
• Bettors doubting big time that Binance, FTX deal will close, prediction platform shows (TB)
• $1 Binance FTX deal is off unless FTX.US is part of the package: Source (Blockworks)

     Contagion

• Coinbase Confirms No FTX Exposure as FTT Price Dumps 75% in 12 Hours (BIC | TB | Cryptoglobe)
• FTX Contagion Hits Crypto Stocks Following Binance Buyout (Blockworks)
• SoftBank and BlackRock among FTX investors in the dark over Binance deal (TB)
• Circle’s USDC And Tether Affected By FTX Mayhem? CEOs Deny Rumors (Bitcoinist)
• Tether CTO denies exposure to FTX and Alameda after exchange's forced sale (TB)
• Multicoin Capital hit by FTX collapse, with 10% of its fund's AUM stuck on the exchange (TB)
• Crypto options exchange Deribit says it is unaffected by FTX and Alameda collapse (TB)
• Galaxy Digital CEO Michael Novogratz ‘Angry’ About FTX (Blockworks | TB | Cointelegraph | Bitcoinist)
• Wintermute says it has funds on crypto exchange FTX, but it's not 'significant' (TB)
• Amber Group says no exposure to Alameda or FTT, less than 10% of trading funds stuck (TB)
• Nexo dodges $219M bullet just days before FTX's solvency crisis (Cointelegraph)
• Bitmex to proceed with token launch, says no exposure to FTX (TB | TDH)
• Genesis reports losses of around $7 million after hedging against market volatility (TB)
• Centralized Exchange Blowups Have Limited Impact on DeFi (Blockworks)

     Opinion

• Binance CEO Says Crypto Industry Can Learn Two Big Lessons From Collapse of FTX (TDH | TB | Bitcoinist)
• Circle CEO Allaire calls FTX crisis crypto's 'Lehman Brothers' moment (TB | TB)
• Solana Labs COO sees ‘crucible moment’ for ecosystem amid FTX crisis (TB)
• 'I'm done with crypto': Traders share pain of potential losses in FTX collapse (TB)
• Coinbase CEO Says The Crypto Exchange Won’t Suffer The Same Fate As FTX (Bitcoinist)
• Renowned Crypto Leaders Worried About Cascading Effect After FTX Collapse (BIC)
• Crypto Market Could See Biggest Crash In History If Binance Cancels FTX Acquisition — Arthur Hayes (ZyCrypto)
• Dan Tapiero says he's not 'all that worried' about FTX crash (TB)

     Legislation/Regulation

• FTX-Binance standoff highlights the need for clear rules — Sen. Lummis (Cointelegraph | TB)
• Bankman-Fried’s priority crypto bill ‘dead’ after FTX sells to Binance (TB)
• EU crypto legislation will mitigate events like FTX collapse: policy experts (TB)
• In staff letter, Binance CEO embraces scrutiny from regulators amid potential FTX deal (Cointelegraph)
• U.S. regulators investigating FTX's handling of customers funds, relationship with FTX.US: Bloomberg (TB | BM | CryptoPotato)

CRYPTO MARKET

• How to pay your bills with cryptocurrency? (Cointelegraph)
• Bitcoin, Ethereum Plummet as Crypto Market Falls Below $1 Trillion Overnight (Decrypt | NewsBTC | Bitcoinist)
• Bitcoin and crypto here to stay despite market turmoil: Community (Cointelegraph)
• Over 90% of professional investors believe market sell-off is good for crypto’s future (Finbold)

BITCOIN

• Bitcoin Comes Dangerously Close to Crashing Below $17,000 (UToday | Cointelegraph | NewsBTC | NewsBTC | TB | Cointelegraph)
• Commodities veteran suggests Bitcoin price slump can trigger ‘macroeconomic dominoes’ (Finbold)
• What Bitcoin’s Decline To A New Cycle Low Says About The Market (Bitcoinist)
• Here's Who Pushed Bitcoin to $17,000 (UToday)
• Bitcoin On-Chain Data: Selling From Whales Holding 1k+ BTC Behind Crash (NewsBTC)
• Bitcoin price could drop below $12,000 as bears gain technical advantage (Finbold)
• Bitcoin futures and short ETFs record huge volume spike Tuesday (Blockworks)
• Bitcoin May Revisit $10,000 for Worse Reason Than FTX Downfall: Bloomberg's Chief Analyst (UToday)
• Bitcoin drops 10%, Ark Invest dumps Robinhood for Coinbase (TB)
• Incoming Kraken CEO Predicts Bitcoin (BTC) Will Become Benchmark Asset in Traditional Currency Markets (TDH)
• Miner Marathon Digital Q3 results miss estimates across the board (TB)
• Marathon is now the 2nd-largest listed holder of Bitcoin — CEO (Cointelegraph)
• Marathon Digital Focused on Organic Growth in Near Term Despite Buying Opportunities (Blockworks)
• Subway accepts Bitcoin, so users can get a sandwich on the Lightning Network (Cointelegraph)

ETHEREUM

• Ethereum Bulls Defend $1,200 Support As Price Holds; How Long Will This Last? (NewsBTC)
• Ether officially turns deflationary amid intense crypto-market fear (TB)

USDT

• Tether Dominance Nears All-Time High as Crypto Crashes (Blockworks)

BNB

• BNB Price Prediction: Why This Support Is The Key For Fresh Increase (NewsBTC)
• Binance Coin Holds Above $290 Amidst Crypto Purge; Are Bulls Still In Control? (NewsBTC)
• Cardano Avoids FTX Tragedy Thanks to This (UToday)
• Solana Price Dumps 24% as Whales Face Liquidation and Network Degrades (Again) (BIC)
• Stefan Berger explains the reason behind the delay in MiCA voting (Cointelegraph)
• Tornado Cash Sanctions By U.S. Treasury Come With a New Twist (BIC)
• SEC v. XRP: Andreessen Horowitz General Counsel Does Not Think Ripple Can Win (UToday)
• $XRP-Focused Investment Product Inflows Surge as Investors See SEC’s Case Against Ripple ‘Increasingly Fragile’ (Cryptoglobe)
• 4 Reasons Why Ripple Will Be Unaffected by SEC Win Over LBRY (BIC)

MATIC

• Polygon (MATIC) Looks Good Above $0.75 Despite Market Turmoil; Here Is Why? (NewsBTC)

WATCH

LISTEN

• Inside FTX's demise with Framework Ventures co-founder Vance Spencer (The Scoop)
• BM Pro FTX Contagion w/ Dylan Leclair and Joe Consorti (Bitcoin Magazine)
• Dollar Milkshake Theory: What Will Happen To The World Economy And Your Money | Brent Johnson, Santiago Capital (The Wolf Of All Streets)