More dump coming for $FTT?

Genesis Trading: OTC Desk transferred a total of 3,197,914 $FTT($53M) to 5 addresses just now.

https://etherscan.io/token/0x50d1c9771902476076ecfc8b2a83ad6b9355a4c9?a=0x0548f59fee79f8832c299e01dca5c76f034f558e

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FTX appears to have stopped processing withdrawals, on-chain data show

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Ringing bells? 😄

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Withdrawals from Coinbase is alarming too. Hope it is just a usual day.

$6250M+ withdrawals.

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SBF: Hey all: I have a few announcements to make.

Things have come full circle, and FTX.com’s first, and last, investors are the same: we have come to an agreement on a strategic transaction with Binance for FTX.com (pending DD etc.).

A *huge* thank you to CZ, Binance, and all of our supporters. This is a user-centric development that benefits the entire industry. CZ has done, and will continue to do, an incredible job of building out the global crypto ecosystem, and creating a freer economic world.

Full thread: https://twitter.com/SBF_FTX/status/1590012124864348160

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Binance buys FTX

https://twitter.com/cz_binance/status/1590013613586411520

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CZ: There is a lot to cover and will take some time. This is a highly dynamic situation, and we are assessing the situation in real time. Binance has the discretion to pull out from the deal at any time. We expect FTT to be highly volatile in the coming days as things develop.

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Caroline, (ex?) CEO of Alameda Research removed CEO from her twitter bio.

https://twitter.com/carolinecapital

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FTT is down 59%. Woah!!

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With FTT crashing, all the Alameda lenders, who accepted FTT as collateral, will go bust?

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Coinbase: Currently we have $15 million worth of deposits on FTX to facilitate business operations and client trades. We have no exposure to Alameda Research, and we have no loans to FTX.

There can’t be a “run on the bank” at Coinbase. As you can review in our publicly filed, audited financial statements, we hold customer assets 1:1.

https://www.coinbase.com/blog/our-approach-to-transparency-risk-management-and-consumer-protection

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SBFs letter to it's investors.

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US senate election live updates:

https://www.bloomberg.com/graphics/2022-us-election-results/senate

As of this moment: Republicans need a net gain of just one seat in the 2022 election to win the Senate. So far Republicans have no net gain in seats, with 19 races not yet called.

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ICYMI: FTX, Alameda Research, Binance Saga: What happened before the buyout plan?

https://www.cryptopolitan.com/ftx-alameda-research-binance

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After yesterday's FTX tussle, several exchanges (Gate, Binance, OKX, Huobi, Bitget) announced that they will be publishing Merkle tree Proof of Reserve (PoF) certificates to increase transparency.

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Alameda Research transferred 2,970,000 $MATIC(2.9M) to Binance a while ago.

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To adjust to recent price fluctuations, Binance has topped up the SAFU insurance fund to $1B equivalent again.

BUSD AND BNB address about 700m: https://bscscan.com/address/0x4B16c5dE96EB2117bBE5fd171E4d203624B014aa#tokentxns

BTC address 300m: https://blockchair.com/bitcoin/address/1BAuq7Vho2CEkVkUxbfU26LhwQjbCmWQkD

What is SAFU?
The Secure Asset Fund for Users (SAFU) is an emergency insurance fund that was established by Binance in July 2018 to protect users' funds.

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18 mil $SOL about to hit the market within 24h. 👇

Those with a lot of coins locked in staking are about to join the liquid supply.

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Do Kwon, Kyle Davies, Zu Shu, SBF, but it's the kid that wrote some of the Tornado source code that's in jail

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