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It's Fridayyyy Folks! The contagion continues to spread and this time it's back to CeFi as BlockFi freezes withdrawals. This is by far the worse situation I've seen the Crypto market face. FTX collapse is equivalent to a nuclear bomb, IMHO, and I am not sure how long the radiation will last. Every news story involved FTX in some way and The Block has corner the most of all publications. 

Meanwhile, the price of Bitcoin appeared to attempt a rally but found resistance around $18K. I believe sideways to down is likely as it attempts to find support around $16K. As many believed $14K could be in the works or even lower toward $10K is not out of the question. I am still a strong believer in Bitcoin and when I zoom out, I am still incredibly excited about this asset.

Podcast of the Day: Crypto Is Destroyed | FTX Failure Will Be Catastrophic | Caitlin Long, Mike Alfred, David Duong (The Wolf Of All Streets)

READ

TRENDING

• BlockFi Announces Withdrawal Freeze, Blames ‘Lack of Clarity’ at FTX and Alameda Research (TDH | Cointelegraph | TB | Blockworks | BIC | TDH | Coindesk)

FTX NEWS

• FTX collapse: The crypto industry’s Lehman Brothers moment (Cointelegraph)
• SBF's fortune is wiped out with 100% decline, Bloomberg's Billionaires Index shows (TB | TB)
• Alameda Research, FTX Ventures invested in more than 250 crypto startups (TB)
• How to Get Money Out of FTX (But Only If You’re Filthy Rich) (Decrypt)
• Bankman-Fried’s Cabal of Roommates in the Bahamas Ran His Crypto Empire – and Dated. Other Employees Have Lots of Questions (Coindesk)

     Bankruptcy

• FTX Files for Bankruptcy Protection in US; CEO Bankman-Fried Resigns (Coindesk)
• What’s Next for FTX and its Customers After Bankruptcy Filing? (TB)
• FTX Employees Worldwide Learned of Bankruptcy Along With the Public (Coindesk)

     Buyout

• LayerZero reaches a complete equity buy-out agreement with FTX and Alameda (TB)
• Tether chief technology officer confirms no plans to rescue FTX (Cointelegraph)

     Opinions

• Rumors continue to fly surrounding Sam Bankman-Fried and the fall of FTX (Cointelegraph)
• BitMEX Co-Founder on Future of Crypto Market in the Wake of Collapse of FTX Empire (Cryptoglobe)
• Web3 Angel Investor Jason Choi on the Mistakes of the ‘Crypto Genius’ Who Runs FTX (Cryptoglobe)
• Binance CEO Was the First to Warn About FTX, Now CZ Says More Cryptos Will Collapse (BIC)
• FTX crisis likely to spark a domino effect, macro analyst explains (Cointelegraph)
• Do Not Invest in Non-Bitcoin Crypto: NYDIG's Ross Stevens on FTX (Coindesk)

     Exchanges

• Over $250,000,000 in Bitcoin Withdrawn From FTX, but One Group of Investors Isn’t Touching Their BTC: Glassnode (TDH)
• Bankman-Fried sold FTX equity to employees at 50% discount in spring (TB)
• FTX US employees attempt to sell assets in CEO’s absence: Bloomberg (TB)
• FTX Staff Lost ‘Significant Portions’ of Net Worths on Exchange (Blockworks)
• Can FTX Token regain its previous levels by the end of 2022? (Finbold)
• FTX ex-exec floats 'cool token' idea amid warning rebound may take years (Cointelegraph)
• FTX customers attempt roundabout ways to withdraw their funds in Bahamas (Cointelegraph)
• US-Listed Crypto Trading Platforms Coinbase, Bakkt Gain After FTX Bankruptcy Filing (Coindesk)

     Proof of Reserve

• Binance Commits to Transparency, Reveals $40B in Stablecoin Reserves (BIC)
• Crypto.com CEO publicly shares exchange’s holdings as platform hits 70 million users (Finbold)

     Legislation/Regulation

• FTX Collapse Sparks Alarm From US Lawmakers (Coindesk)
• Senators moving forward with SBF-backed bill after FTX collapse (TB | Cointelegraph)
• Sam Bankman-Fried goes from toast of Washington to political pariah (TB)
• FTX faces SEC and CFTC investigation: Bloomberg (TB)
• California regulators to investigate FTX crypto exchange collapse (Cointelegraph | Coindesk)
• FTX Has European License Suspended by Cyprus Regulator: Report (Coindesk | TB)
• FTX Faces Trouble in Japan and Bahamas As Regulators Narrow Their Sights (BIC | Blockworks | Coindesk)
• Cyprus Regulators To Suspend FTX EU Crypto License (EWN)
• SEC Commissioner Hester Peirce: FTX’s Collapse Could Finally Be ‘Catalyst’ for Regulation (Coindesk)

     Contagion

• Canada’s Teacher’s Pension Fund Faces Investment Issue in FTX’s Liquidity Crunch (CryptoPotato | Blockworks)
• Genesis Trading says derivatives arm has $175 million locked up in FTX account (TB)
• Silvergate Capital Shares Pressured by FTX Debacle (Blockworks)
• Mechanism Capital among funds with assets stuck in FTX, exploring legal options (TB)
• Sequoia Says Investment in FTX Does Not Negatively Impact its Fund (CryptoPotato)
• Pantera Capital's exposure to FTX is from its Blockfolio investment (TB)
• Alameda-backed trading shop Folkvang says it can 'easily absorb' hit from FTX exposure (TB)
• Scaramucci Says Investment Firm SkyBridge Is Exploring Buying Back Equity From FTX (Coindesk)
• Wintermute Ceased Trading and Moved Funds From Crypto Exchange FTX US Before Warning (Coindesk)

     People on the move

• FTX Foundation's Future Fund team resigns, condemns exchange's behavior (TB | Coindesk)
• Ripple Executive Makes Unexpected Offer to FTX Employees: Details (UToday)
• FTX’s head of institutional sales resigns, says team was 'completely in the dark' about insolvency (TB | Finbold)
• FTX Ventures Head Amy Wu Resigns: The Information (TB)

BITCOIN

• Bitcoin ($BTC) Traders Move to Buy the Dip as ‘Feelings of Hopelessness’ Take Over (Cryptoglobe)
• Hodlers in loss sit on 50% of BTC supply after $5.7K Bitcoin price dip (Cointelegraph)
• Brownstone Institute founder says Bitcoin could be headed back to $10,000; Here’s why (Finbold)
• Bitcoin’s Relative Strength Index drops to its weakest in history (Finbold)
• This Pattern Shows Bitcoin Bulls Might Be in Trouble (UToday)
• Wake up call? Bitcoin wallets move 3,500 BTC dormant since 2011 (Cointelegraph)

ETHEREUM

• Traders take a neutral position after Ethereum futures contracts see massive liquidations (Cointelegraph)
• Ether Turns Deflationary as Amount of ETH Burned Spikes Amid FTX-Induced Market Volatility (Coindesk | Cointelegraph)

CARDANO

• Cardano Is in Enormous 9% Recovery, Here's Why: Crypto Market Review, November 11 (UToday)
• Cardano ADA Price Recovery Likely to Be Hindered by Slow Network Activity (BIC)

POLYGON ($MATIC)

• Gold-linked Tokens and Polygon Buck Crypto Downtrend (Blockworks)

LEGAL BATTLES

• SEC Gains Another Supporter in Ripple Case (UToday)
• SEC vs. Ripple: Fintech Firm Seeks To File Amicus Brief in Support of Regulator in XRP Lawsuit (TDH)

ATTACKS/HACKS/SCAMS

• CFPB: Romance scams and 'pig butchering' play key role in growing crypto complaints (TB)
• Polychain-backed DFX Finance hacked for $7.5 million (TB)
• DFX Finance Hacked, Exploiter Drains $4M And Funnels Funds to Tornado Cash (BIC)

WATCH

LISTEN

• Nov 10: The FTX Saga in 3 Twitter Threads (Decrypt Daily)
• Weekly Roundup 11/10/22 (FTX fiasco, Su Zhu and Do attempt comebacks, Proof of Reserves redemption) (On The Brink)
• Bursting Bitcoin's Political Bubble w/ Jason Maier (Bitcoin Magazine)
• ROLLUP: The SBF & FTX Aftermath | ETH Goes Ultra Sound | NEW Ethereum Roadmap | OpenSea Royalties (Bankless)
• Erik Voorhees and Cobie on Why FTX Loaned Out Customers’ Assets (Unchained)