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• Man Group close to launching crypto hedge fund despite FTX collapse: Bloomberg (TB | BIC | Cointelegraph)

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It's Fridayyyy Folks! We made it through the most brutal week in Crypto and who knows whats on the horizon. There are still a lot of contagion and things that can go terribly wrong. What we know is that FTX is done. SBF? WTF knows what will happen to that guy. Genesis appears to be headed down the wrong track with no light in sight. The impact of them going under will affect others like Gemini possibly and Grayscale. If Grayscale runs into serious trouble it might spell Crypto Armageddon. 

This situation is teaching more people the lesson of not your keys, not your coins and as a result record amounts of Bitcoin are flowing away from exchanges like Gemini, Binance, and others. Everyone has an opinion about where they believe the market can go and most are incorrect in their analysis. I believe we are in uncharted territory and it will require an immense amount of patience to weather this storm. This too shall pass.

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Podcast of the Day: Did the Bahamian Government Direct SBF and Gary Wang to Hack FTX? (Unchained)

WEEDS

TRENDING

• Ripple Expanding Its Presence in EU (UToday | Coindesk | BIC | TB | CryptoPotato | TDH | Cryptoglobe | TDH)
• FTX meltdown triggers FINRA into probing crypto comms (Cointelegraph | TB | Coindesk | Bitcoinist)
• FTX-Linked Asia's Biggest Bitcoin ATM Network and Exchange Ceases Trading in Hong Kong (Cointelegraph | UToday | Coindesk)
• Bahamas seized FTX Digital Markets' assets on Nov. 12, regulator now says (TB | NewsBTC | Coindesk)
• Cardano developer Emurgo to issue fiat-pegged stablecoin called USDA (TB | Coindesk | ZyCrypto | BIC)

Other news

• Crypto self-custody a ‘fundamental human right’ but not risk-free: Community (Cointelegraph)
• Bitcoin flashes strongest sell signal since 2021; Will BTC price drop to $10k? (Finbold)
• Bitcoin price may still drop 40% after FTX 'Lehman moment' — analysis (Cointelegraph)
• Bitcoin traders increase leverage longs even as crypto critics say BTC is a “pure Ponzi” (Cointelegraph)
• Binance sees record 138K BTC inflows as opinions differ on what Bitcoin price will do next (Cointelegraph)
• Binance in Hot Water After Moving $2.7B Out of Proof of Reserves Wallet (BIC)
• Is El Salvador's President's Decision to Buy One Bitcoin per Day a Good Idea? (UToday)
• Silvergate CEO sees silver lining for bitcoin: 'There are always buyers' (TB)
• "Black Swan" Author Is Optimistic about Current "Crypto Crash," Here's Why (UToday)
• FTX collapse could trigger ‘appetite' for harsher regulation, says Andrew Yang (Cointelegraph)
• XRP Price Prediction: Short-term Pattern Gives Hope, but Longer-Term Less Clear (BIC | Finbold)
• Crypto Biz: FTX fallout leaves blood in its wake (Cointelegraph)
• Grayscale Liquidation Could Unleash A Bitcoin Armageddon (NewsBTC)
• Circle CEO Jeremy Allaire Says Crypto Use Cases Still Remain Strong Following FTX Debacle (TDH)
• Binance CEO Changpeng Zhao Says FTX Collapse Will Benefit Crypto Industry in the Long Term (TDH)
• FTX’s Sam Bankman-Fried Eyes A Comeback, But Binance CEO Thinks It Is Highly Unlikely (ZyCrypto)
• Crypto Analytics Platform Nansen Finds FTX May Have Colluded With Alameda Since the Exchange’s Inception (TDH)
• Alameda, FTX in the Spotlight, BTC Loses $17K as Contagion Spreads: This Week’s Recap (CryptoPotato)
• Alameda Just Transfered $17 Million in Crypto to Trading Platform FalconX (Decrypt)
• FTX is done — What’s next for Bitcoin, altcoins and crypto in general? (Cointelegraph)
• FTX Held Just $659,000 in ‘Less Liquid’ Assets Contrary to $5.5B Claims (BIC)
• FTX will be the last giant to fall this cycle: Hedge fund co-founder (Cointelegraph)
• FTX Catastrophe Likely Triggered By Terra Collapse: Nansen (Decrypt | Bitcoinist)
• FTX May Have Committed Serious Fraud and Mismanagement: Bahamas Liquidators (CryptoPotato)
• Bitstamp Follows Other Exchanges in Canceling Orders for FTX and Celsius Tokens (Decrypt)
• Ontario Teachers' Pension Plan to write down $95 million FTX investment to zero (TB | Coindesk)
• 25,000 BTC Moved off Gemini as Barry Silbert-Affiliated Genesis Halts Withdrawals, Here's Why (UToday)
• Genesis sought emergency loan of $1 billion: WSJ (TB)
• Genesis Block HK has more than $50 million stuck on FTX: Source (TB)
• Nickel Digital has around $12 million stuck on hobbled crypto exchange FTX (TB)
• Revolut Distances Itself from FTX While Pushing for Crypto: Report (CryptoPotato)
• Pension Giant Ontario Teachers' Plans to Write Off All $95 Million Invested in Crypto Exchange FTX (Coindesk)
• CFTC Commissioner Mersinger says the time has come for action on crypto regulation (Cointelegraph)
• U.S. House Financial Services Committee Plans Official Hearing on FTX Collapse: Report (TDH)
• U.S. Treasury Secretary: ‘More Effective Oversight of Cryptocurrency Markets’ Is Needed (Cryptoglobe)
• Sam Bankman-Fried Switches Legal Counsel as Investigations Into FTX Collapse Mount: Report (Coindesk)

Other Podcast

• Guy Who Oversaw Enron Says FTX Is Worse (The Breakdown)
• Read_675 - Stop Drinking the Elite's Kool-aid [Nayib Bukele] (Bitcoin Audible)
• Weekly Roundup 11/17/22 (John Ray’s FTX filing, will FTX political contributions be repaid, what’s wrong with effective altruism?) (EP.372) (On The Brink)
• ROLLUP: FTX Contagion | SBF Tweet Thread | Genesis Trading | Gemini Earn | StarkNet Token | Cosmos ATOM 2.0 (Bankless)
• Leverage in the Fiat Ponzi and the FTX Blowup with Lawrence Lepard - November 17th, 2022 (Cafe Bitcoin)