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Welcome to Thursday Folks! The aftermath of the FTX is mind blowing, after the CeFi debacle, now this. The news cycle is focused 100% on this drama so the blog is organized to maximize your view of what is going on. Bitcoin's price is struggling to gain any footing and more downside is being forecasted; despite the slight rally on the 4 hour. I decided to go back and look at the price of Bitcoin since 2010 and I think something is definitely different, up year over year isn't the case or last year was the anomaly which means Bitcoin is still performing as it should.  

Podcast of the Day: What the US Midterm Elections’ Lack of a ‘Red Wave’ Means for Crypto (The Breakdown)

READ

FTX Chaos

• Republican lawmaker claims SEC chair was coordinating with FTX 'to obtain regulatory monopoly' (Cointelegraph | TDH)

     Crypto Market

• Crypto Chaos Continues as Market Drops Over $100 Billion Overnight (Decrypt | Bitcoinist)
• Ethereum Amid FTX Crisis: ETH Plunges 22% – More Bad News Coming? (Bitcoinist)
• Grayscale Bitcoin Trust records a 41% discount amid FTX meltdown (Cointelegraph | TB | Blockworks)
• FTX US resigns from the Crypto Council for Innovation (TB | Cointelegraph)

     Buyout

• FTX Turns to Apollo in Latest Bailout Bid (Blockworks)
• FTX's Bankman-Fried seeks more than $9 billion for exchange rescue: Reuters (TB | TDH)
• FTX Bailout Candidate List is Shrinking by the Hour (Blockworks)

     Legal Battle

• FTX’s Legal and Compliance Team Reportedly Resigned (CryptoPotato)
• Voyager has no assets on FTX, says deal not done (TB)

     Exchange

• FTX used $4 billion including customer funds to keep Alameda afloat: Reuters (TB | Finbold | Decrypt)
• Bankman-Fried tells FTX top priority is fundraising after failed Binance deal (TB | Finbold | CryptoPotato)
• Justin Sun Hints At A Potential FTX Revival ‘Solution’ For $USDD (EWN)
• FTX.US warns 'trading may be halted' in coming days (TB | Cointelegraph | TDH)
• FTX Re-enables Withdrawals, But Only in Bahamas (Blockworks | Cointelegraph)

     Opinion

• FTX Turmoil: Sen. Warren Calls For SEC Enforcement Despite Controversial Financial Ties To SBF (Bitcoinist | EWN)
• CFTC Commissioner Kristin Johnson comments on FTX saga (Finbold)
• Kraken CEO on FTX collapse: 'The damage here is huge’ (TB | Cryptoglobe | CryptoPotato)
• Investment Bank CEO Tried Warning SBF About FTX’s Potential Collapse (CryptoPotato | Cointelegraph)
• Breaking Justin Sun Only Promises to Save His Own Community From the FTX Fiasco (BIC | TB)
• Arthur Hayes Says FTX is Now Beyond Saving (CryptoPotato)
• Cardano Creator Charles Hoskinson Says FTX Implosion Will Cause Issues for Whole Crypto Industry (TDH)
• FTX crisis feeds the Twitter rumor mill with hot takes and conspiracy theories (Cointelegraph)

     Contagion

• Which crypto companies have exposure to FTX? (TB)
• Ledger hardware wallets hit by the FTX earthquake, CTO says (Cointelegraph)
• Crypto VCs Reckon With Failing FTX Investments (Blockworks)
• Circle CEO Jeremy Allaire Says Stablecoin-Issuer Not Affected by Troubles at Crypto Exchange FTX (TDH)
• Coinbase, Ripple CEOs Blame SEC for FTX User Strife (Blockworks)
• ‘Thank God’ El Salvador doesn’t have any Bitcoin on FTX, CZ clarifies (Cointelegraph)
• LayerZero Labs bought back its stake from FTX Ventures and Alameda (Cointelegraph)

     Legislation/Regulation

• White House is monitoring FTX implosion, calls for more crypto regulation (TB | Cointelegraph)
• 'Urgent need for legislation' after FTX collapse, says Maxine Waters (TB)
• SEC Chair Gary Gensler Addresses FTX Implosion, Says Regulations Very Clear but Crypto Industry Non-Compliant (TDH)
• FTX turmoil increases scrutiny of industry, something institutional investors have been waiting for (Cointelegraph)
• European G20 leaders call for urgent regulation of 'crypto conglomerates' (TB)
• Bahamian regulator investigating problems at FTX: Tribune (TB)

     Scam Alert

• Scam Alert: FTX Impersonators Launched "Compensation Program" (UToday)

BITCOIN

• Bitcoin miners ‘next trigger’ for BTC price crash as outflows hit multi-month highs (Cointelegraph)
• Legendary Trader Peter Brandt Is Seriously Worried About Bitcoin for One Reason (UToday)
• Over 80,000 BTC Leaves Exchange Wallets as Traders Lose Confidence In Centralized Exchanges (ZyCrypto)
• Bitcoin Supply In Loss Now At Similar Levels To COVID Crash And 2018 Bottom (NewsBTC)
• Crypto Chaos Dims Prospects of US Bitcoin ETF: Analysts (Blockworks)
• Bitcoin options data shows sub-$17K BTC price gives bears a $200M payday on Friday (Cointelegraph)

USDT

• Tether's USDT falls 1% below dollar peg amid market uncertainty (TB)
• 82% of Tether reserves held in ‘extremely liquid’ assets, according to attestation (Cointelegraph)

LEGISLATION/REGULATION

• Unclear regulations drove 95% of trading activity offshore: Coinbase CEO (Cointelegraph)

LEGAL BATTLES

• Bankrupt lender Celsius files motion to extend time for 'reorganization' (TB)
• SEC Gains Supporter in Fight Against Ripple (UToday)

WATCH

LISTEN

• FTX Totally Destroyed | Crypto Collapses | What Should You Do? | Dave Weisberger, Edan Yago, Tom Dunleavy, Steven McClurg (The Wolf Of All Streets)
• Why Won’t the SEC Approve a Bitcoin ETF? With Perianne Boring (What Bitcoin Did)
• Nov 9: Did Greed Best SBF? (Decrypt Daily)
• FTX's demise part 2 with Wintermute's Evgeny Gaevoy & CryptoQuant's Ki Young Ju (The Scoop)
• The Collapse of FTX | 24 hours later (Bankless)
• The Chopping Block: FTX: The Biggest Collapse in the History of Crypto? (Unchained)