FTX's Dirty Laundry Aired 😯
In today's edition: 💣 Reactions over the podcast, 😐 FTX's whistleblowers, 🌊 allegations against Sui, and more!
What’s Poppin’?
by Samyuktha Sriram
FTX Sues Former Compliance Chief Who Allegedly Silenced Whistleblowers
The lawsuit against Daniel Friedberg claims that he helped obscure the relationship between FTX and Alameda, drafted sham agreements to conceal the misuse of customer funds and used hush money to silence whistleblowers.
FTX Stops Sale of $500 Million Stake in AI Firm Anthropic: Report
After months of due diligence, FTX’s advisers informed bidders that the bankrupt crypto exchange would be halting the sale of its stake in Anthropic.
Sui Foundation Denies Selling Locked Staking Rewards on Binance
The team behind the Sui blockchain refuted a report claiming that they had dumped rewards from non-circulating SUI tokens on Binance and misrepresented emissions.
Bitcoin Miners Send Record $128 Million to Crypto Exchanges
On-chain data shows that miners sent 315% of their daily revenue to exchanges, marking the highest ever interaction to date.
On the Pod…
What people are saying:
Dave Kaplan: Great concept for an Unchained episode and there were a lot of great topical questions posed by @laurashin that have been asked by the community recently.
dvdsmfer: Thanks @laurashin for putting this debate together.
orlando.btc: @laurashin did a great job here. Letting them duke it out when it makes sense. Playing referee when the conversation devolves. Asking great questions and digging into nuance. 10/10
Daily Bits…✍️✍️✍️
⏰ FTX is finalizing its recovery plans by soliciting proposals this week from parties interested in financing or participating in its revival, according to a WSJ report.
📜 Nevada's Financial Institutions Division sought court-ordered control over crypto custodian Prime Trust, citing significant financial shortfall and impending insolvency.
🔜 Fidelity, a leading asset management company, is reportedly preparing to file for a spot bitcoin exchange-traded fund (ETF), following the recent move by BlackRock.
⚖️ U.S. District Judge Lewis Kaplan rejected a request from Sam Bankman-Fried to dismiss or sever the majority of criminal charges against him, deeming the motions "moot or without merit."
🎨 The Azuki NFT brand's latest collection, 'Azuki Elemental Beans', raised $37.5 million by selling all 10,000 NFTs within 15 minutes of launch, exclusively to Azuki or BEANZ holders, before public access was granted. However, the price tanked 44% after a negative reaction over their similarity to the original Azuki collection.
💼 Creditors of the bankrupt crypto lender BlockFi petitioned for the company's liquidation, alleging management delay tactics in bankruptcy resolution and accusing CEO Zac Prince of fraud and extortion.
🔍 Liquidators of Three Arrows Capital are pursuing $1.3 billion from cofounders Su Zhu and Kyle Davies, alleging they caused equal losses via leverage shortly before the fund's collapse.
😱 Developers of Chibi Finance, an Arbitrum-based protocol, allegedly stole over $1 million in various tokens shortly after going live, leading to a 98% drop in CHIBI tokens.
📈 Grayscale Bitcoin Trust's (GBTC) shares reached a one-year high amid renewed hopes for the trust's conversion into an ETF.
🔐 TrueUSD (TUSD) stablecoin had $26,434 worth of backing assets at a U.S. depository institution that was directed to stop withdrawals.
Today in Crypto Adoption...
🔄 Crypto exchange Bitfinex introduced a peer-to-peer platform for customers in Argentina, Colombia, and Venezuela, allowing transactions in Bitcoin, Ether, USDT, EURT, and Tether Gold.
The $$$ Corner…
🎮 Web3 gaming studio Mythical Games garnered $37 million in a Series C extension round, led by Scytale Digital with participation from Andreessen Horowitz, ARK Invest, and Animoca Brands.
💰 Sony Network Communications invested $3.5 million in Singapore-based web3 firm Startale Labs.
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📈 Your Market Update 📉
BTC is down .7%, trading at $30,345
ETH is down .7%, trading at $1,862
BTC dominance: 48.47%
Crypto market cap: $1.22 trillion
*All data as of today, 7:25 am ET
On Unchained Premium 💎
Recommended Reads
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Anton Wahrstätter, Matthew Solomon, Ben DiFrancesco, Vitalik Buterin, and Davor Svetinovic on blockchain privacy
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