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Happy Monday Folks! It's time to kick off a new week and hopefully kick the doldrums of last week off. However, there are still linger issues that might make this week just as tough as last week; what comes next is anyone's guess. I am talking about Genesis and their situation as a result of FTX Fiasco; there is ton of that to read below so let's talk about Bitcoin shall we? 

On-chain metrics suggest Bitcoin is nearing the bottom of the bear market despite recent woes and the bulls continue to fight but some believe $10K is in the offering; nearly 50% of Bitcoin addresses are now in loss. Bitcoin mining difficulty spiked to a new record over 36.95 Terrahashes. For the first time Binance now has the largest reserve of Bitcoin. 

Five things to know this week:

• FTX contagion turns to GBTC
• Downside risk in numbers
• Retreating inflation passes Bitcoin by
• New difficulty all-time high as miner sales cool
• Timing the bottom

WATCH

LISTEN

Podcast of the Day: 145 - Is the Fed Corrupt? with Christopher Leonard (Bankless)

THE WEEDS

BITCOIN

• Bitcoin price levels to watch as traders bet on sub-$14K BTC (Cointelegraph)
• Bitcoin Slips Below $16k As Older Whales Show Signs Of Dumping (NewsBTC)
• Bitcoin indicators hint bottom is forming; Is a BTC recovery imminent? (Finbold | TDH)
• For the First Time: Binance With Largest Bitcoin Reserves (CryptoPotato | BIC | Bitcoinist)
• Bitcoin Bulls Are Braving The Storms Around FTX’s Fall, But Is A Crash To $10,000 Really In The Offing? (ZyCrypto)
• Bitcoin (BTC) Difficulty Spikes to New Record Over 36.95 T (UToday | TB)
• Iris Energy Fails to Service $100 Million Loan, Cuts BTC Mining Hardware (BIC)
• More Than 50% of Bitcoin Addresses Are Now in Loss (Coindesk | BIC)
• GBTC next BTC price black swan? — 5 things to know in Bitcoin this week (Cointelegraph)
• Coinbase Custody confirmed Grayscale product breakdown, wallet addresses remain undisclosed as GBTC discount reached 50% (EWN)
• Coinbase Tries To Ease The Tides, Rumors Of Genesis And DCG Disaster Intensify (Bitcoinist)
• Investors Panic As Largest Bitcoin Fund Hits All-Time Low Premiums (Bitcoinist | TB)

SHOULD FULL REPLACE-BY-FEE BE MERGED INTO BITCOIN CORE?

ETEHREUM

• Ethereum (ETH) price prediction for December 31, 2022: $1,508.84 (Finbold)
  
• Ethereum Struggles To Hold Above $1,000 As Bears Push Harder; Will Price Go Lower? (NewsBTC | BIC)

XRP

• Bulls work to trigger XRP price rally; Can Ripple’s token reclaim $0.40 soon? (Finbold)
• Hundreds of Millions of XRP Moved by Whales as Price Shows Bullish Setup (UToday)
• Ripple Holders Underwater as Whales Continue to Sell XRP (BIC)

DOGE

• Study Shows Dogecoin Investors Among ‘Least Stressed’ In Aftermath Of FTX Disaster (Bitcoinist)

CARDANO

• Cardano-based decentralized stablecoin Djed will hit mainnet in January (TB | CryptoPotato | Cointelegraph)
• Cardano Developer Working on New Privacy-Focused Altcoin and Blockchain, According to Charles Hoskinson (TDH | Bitcoinist)
• Cardano Critic Says ADA Is Poised to “Plummet Down” (UToday)
• Cardano (ADA) Price Collapses From Yearlong Support. Is a Further 50% Drop Incoming? (BIC)

MATIC

• Polygon (MATIC) set for ‘a strong rally in 2023’ if this pattern holds (Finbold)

NOTABLE VOICES

• Billionaire Investor Bill Ackman: Crypto Has ‘Potential To Greatly Benefit Society’ (TB | Cryptoglobe | Cointelegraph | TDH)
• Fed President Neel Kashkari Says Entire Notion of Crypto Is Nonsense Following the Controversial Implosion of FTX (TDH | Cryptoglobe)
• ETH Researcher Alex Valaitis Discloses Important Dogecoin Data Hidden from Users: Details (Cryptoglobe | UToday)
• Ethereum's Vitalik Buterin Clarifies Viral Tweet After Facing Criticism from Paul Graham (NewsBTC | UToday | UToday)
• Ethereum founder Vitalik Buterin says crypto has potential to ‘attract all of the Do Kwons’ (Finbold)
• Vitalik Buterin offers lessons for crypto in wake of the FTX collapse (Cointelegraph)
• Kraken Founder Jesse Powell Predicts Next ‘Big Event’ That Pushes Crypto Out of Bear Market (TDH)
• Binance CEO Changpeng Zhao Says Sam Bankman-Fried ‘Clearly’ Lied to FTX Users, Investors and Employees (TDH)

LEGISLATION/REGULATION

• BOE’s Cunliffe says regulation can save crypto from itself and it’s worth the effort (Cointelegraph)
  

LEGAL BATTLES

• Court sets Jan. 3 deadline for Celsius customers to file claims in bankruptcy case (TB | Cointelegraph | Coindesk)
• $104,000,000 Seized From Terra (LUNA) Co-Founder by South Korean Authorities: Report (TDH)
• Celsius had 'insufficient' accounting and operational controls, says examiner (Cointelegraph)
• Ripple Lawsuit: SEC Supporter Fails To File Amicus Brief, Here's Why (UToday)
• First official DAO in the US to fight SEC without attorneys (Cointelegraph)

ATTACKS/HACKS/SCAMS

• Two Estonians Face Jail Time Following $500 Million Crypto Ponzi Scheme (BIC)

FTX FIASCO

     Hack

• 'FTX drainer' swaps another 20,000 ether for bitcoin (TB | CryptoPotato | TB | Decrypt | Cointelegraph)
• FTX Hacker Moves $199 Million Worth of Ethereum (ETH) to Different Wallets (UToday | NewsBTC | NewsBTC | TB)

     Crypto Market

• Crypto Markets Are Suffering – But Is It Really ‘Contagion’? (Coindesk)
• Crypto sleuth debunks 3 biggest misconceptions about the FTX hack (Cointelegraph)
• These Are the Most Shocking Findings From FTX’s Bankruptcy Filing (CryptoPotato)
• What Is Crypto Contagion? How It’s Spreading After FTX Collapse (Decrypt)
• Genesis warns of possible bankruptcy without funding: Bloomberg (TB)
• ‘Wolf of Wall Street’ Says SBF Was Using FTX As ‘His Own Personal Piggy Bank’ (Cryptoglobe)

     Grayscale

• Crypto Giant Grayscale Says Providing On-Chain Proof of Reserves Threatens Its Clients’ Security (TDH | BIC)
• Is Barry Silbert’s Crypto Empire in Danger? Genesis Allegedly Fails to Secure Funding (UToday)
• GBTC Bitcoin discount nears 50% on FTX woes as investors stock up (Cointelegraph)

     Acquisition

• Ripple to the Rescue as CEO Plans to Acquire Some FTX Businesses Following Collapse (BIC)

     Aftermath

• FTX owes over $3 billion to its 50 biggest creditors: Bankruptcy filing (Cointelegraph | TB | Coindesk | TDH)
• FTX Japanese subsidiary preparing to resume withdrawals by year end: NHK (TB | Coindesk | Cointelegraph)
• Bankrupt crypto exchange FTX begins strategic review of global assets (BIC | Cointelegraph)
• Coinbase, MicroStrategy Bonds Tank as FTX Collapse Dents Institutional Confidence in Crypto (Coindesk)
• Getting funds out of FTX could take years or even decades: Lawyers (Cointelegraph)
• Stablecoin Issuer Tether Explains How FTX and Alameda Collapse Has No Effect on USDT (TDH)
• New Report Shows South Korea And Singapore Badly Impacted Amidst FTX Contagion (Bitcoinist)

     Legislation/Regulation

• FTX fiasco means coming consequences for crypto in Washington DC (Cointelegraph)
• FTX Exploiter Converts Millions in Ether to Alameda-Linked Ren Bitcoin Tokens (Coindesk)
• G20 Leaders, Including Joe Biden: Crypto Needs To Be ‘Subject to Robust Regulation’ (Cryptoglobe)
• Governments should not over-regulate after FTX, lead MiCA negotiator says (TB)
• US Senate committee schedules FTX hearing for Dec. 1, CFTC head to testify (Cointelegraph)

     Scams

• SBF Deepfake Scam Offers Users 'Compensation' for FTX Collapse (Decrypt)

 Other Podcast

• Bitcoin, Explained 68: RBF In Bitcoin Core 24.0 (Bitcoin Explained)
• Okay Proof of Reserves, But for Real This Time? (The Breakdown)
• Nov 21: $375 Million Sports Marketing Deals up in Smoke (Decrypt Daily)
• Your Hardware Wallet Is Not As Cold As You Think | Ruben Merre, Ngrave (The Wolf Of All Streets)
• Travis Scher on the FTX impact on Crypto VC (On The Brink)
• The FTX Collapse Spreads To Genesis | Weekly Round Up (On The Margin)
• FTX Is Worse Than Enron w/ Lawrence Lepard, Caitlin Long, Dylan LeClair, and Dr. Jeff Ross (Bitcoin Magazine)
• Jesse Powell and Kevin Zhou on How FTX and Alameda Lost $10 Billion (Unchained)
• Venture Round with Meltem Demirors and Vanessa Grellet (The Scoop)
• #376: Hell of a Week for Unchained Capital with Parker Lewis (TFTC)