Market
Bear Market
Over $500M flew out of Solana in a week, DeFi TVL down 63%
While the total value locked in Solana DeFi has been falling throughout the year, it accelerated since the collapse of FTX.
Exchanges
New Huo Technology unit gets $14M loan from ex-Huobi CEO Leon Li to cover client funds stuck on FTX
Hbit Limited, a subsidiary of New Huo Technology, has around $18.1 million locked on FTX — $13.2 million of which belongs to customers.
Exchanges
Crypto.com transferred nearly 85% of ETH reserves to Gate.io in October, CEO assures it was accidental
Twitter is fraught with fear that exchanges may be faking proof of reserves amid rampant speculation.
Bankruptcy
Bahamas Securities Commission neither “authorized” nor condones FTX enabling local withdrawals
FTX enabled withdrawals for Bahamian clients on Nov. 11 citing compliance with regulators, but the SCB contradicted the exchange's claims.
Web3
Web3 World of Tanks inspired game Hit Factor aims for Esports adoption – SlateCast #29
Hit Factor's Matt Reed and Dylan Servantes discuss why Web3 games are necessary and how War Park is changing the game.
Trading
Nearly $300M liquidated in 12 hours as market turns red
Concerns around the liquidity of FTX and Alameda Research fueled contagion fears, bringing the crypto market down and causing huge liquidations.
Bear Market
Stripe lays off 14% of workforce to cut costs amid economic downturn
Stripe CEO Patrick Collison admitted that the leadership team made a "mistake" by being "too optimistic" about 2022 growth rates.
Tokenization
Top 50 Dogecoin holders unloaded $110M worth of DOGE over the past week
Over the past 24 hours, the top 50 DOGE investors bought $70 million worth of tokens while $177 million worth of tokens flowed into Binance.
Technology
Vitalik says making ZK proofs ‘understandable’ is necessary for Ethereum
Ethereum is in the process of implementing KZG, a polynomial commitment scheme, that could help scale Ethereum.
Scams
Over $1M worth of ETH, NFTs stolen in phishing attack
According to on-chain sleuth ZachXBT, the scammer goes by the pseudonym "monkey drainer" and has stolen $3.5 million worth of assets so far.
Scams
FTX compensating users who lost $6M to phishing attacks “just this once,” says SBF
FTX, Binance and other exchange users recently fell prey to phishing attacks targeting crypto services like 3Commas.
Bear Market
Crypto staking platform Freeway halts withdrawals, FatManTerra alleges Ponzi scheme
Staking platform Freeway halted withdrawals and deleted its team details, which allegedly points to a rug pull, according to FatManTerra.