Crypto Pulse #38 - Genesis cites bankruptcy as potential option. Tuesday, 22nd Nov 2022 | Powered by GenShards.
22 Nov 2022, 13:45
Crypto Pulse #38 - Genesis cites bankruptcy as potential option
Tuesday, 22nd Nov 2022 | Powered by GenShards
🌎 Here's all you need to know about what's been up in the Web3-sphere lately
👉 Read the issue | 🐧 Read tweet thread |👇Read highlights below
⛰Macro Landscape
📌 Genesis Global Trading has cited bankruptcy as a potential option as it seeks new funding, days after its lending business was forced to cease withdrawals following the collapse of cryptocurrency exchange FTX (source)
📌 As per a report, South Korea and Singapore were hit the hardest by the downfall of FTX (source)
📌 An expert review of FTX’s financial statements has revealed several red-flag transactions that should have led to more scrutiny of the company’s operations (source)
📈 Markets and Ecosystem
📌 Binance has emerged as the centralized exchange with largest BTC reserves - for the first time ever (source)
📌 Tim Draper's 2023 Bitcoin price prediction of $250,000 remains unchanged. As per Draper, Bitcoin's rise and the FTX fiasco are not correlated at all as BTC is decentralized in nature (source)
📌 Vitalik Buterin shared his thoughts and some positives from the FTX downfall - one of cryptocurrency’s biggest black swan events (source)
🀄️ NFTs, Metaverse & Gaming
📌 The fallout from FTX’s collapse has been devastating - but according to a recent report by DappRadar, Defi and NFTs remain resilient (source)
📌 Prince Harry and Meghan, Duchess of Sussex are reportedly in talks to create their own world within the metaverse (source)
📌 Celebrity Bored Ape Yacht Club (BAYC) NFT holders including the likes of Justin Bieber and Michael Jordan have suffered heavy losses (source)
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