Wagwan, Breet Gang?
How’d your weekend go?
Not too fast, I hope? 🌚
Times have been wild so I hope you got as much rest as possible + did small flexing too! And if you’re already mentally checking out of 2022, I can’t blame you o.
Anyways, we move! 🤲🏻
As another bright & beautiful Monday is upon us, you know what time it is — we’re about to run through the major new-stories from the Crypto Scene.
Ready? Set? Dig in!
1. Upon all the begging we begged November, Bearish times don dey too last o. Bitcoin dipped by 5.97% to a low of $17,322, while Ethereum dropped by 6.65%, hitting $1,273 on Friday afternoon 🥲
2. And the big news — Binance officially announced backing out of its FTX bailout plan after “carrying out due diligence”, and investors have lost over $180 billion already — harsh 🌚
3. FTX founder Sam Bankman-Fried’s net-worth has taken a beating, dropping from $16B to $990M in days, and he’s also being investigated by the US SEC for potential violations of securities rules. Things are definitely looking messy! 👀
4. Stablecoin issuer Tether went on to freeze $46M worth of USDT on the Tron Blockchain by crypto exchange FTX, based on a request made by law enforcement personnels. Fingers crossed o 🥺
5. Billionaire and founder of Tron blockchain Justin Sun made an interesting statement about “putting together a solution” with his team for FTX hours after Binance’s back-off. Let’s sha be watching 😁
6. As the Crypto market remains unstable and the global economic continues turnioniown, Coinbase is about to lay off employees again — over 60 staff — as trading volume continues to decline. Na wa o.
7. Next, exciting news; Google Cloud has partnered with Crypto startup Aptos as the search giant plans to launch an accelerator program and co-host a hackathon next year. Love to see it! 💪🏻
8. Crypto Lender BlockFi released an official statement regarding their inability to “operate business as usual” and has halted client withdrawals due to the lack of clarity on the status of FTX.com, FTX US and Alameda. Yikes 😬
9. Last on our list — based on double-dip fears, Solana has postponed its staking unlock period, while developers are unaffected & can unlock and liquidate their SOL tokens. Tough week indeed 🙃
It’s a wrap, my people!
Want to stay up-to-date with major Crypto stories this week? Simply follow our social media platforms and stop by our blog frequently too.
Till next time, go do awesome stuff!