FTX Updates:
SBF pled not guilty to the eight criminal charges laid against him. The trial is set for October 2nd
Andrew Vara from the DoJ filed an objection to the sale of FTX subsidiaries including LedgerX, FTX Japan and FTX Europe. He claims they may have relevant information related to the bankruptcy
Bahamas Securities Commission defends itself from accusations by the new FTX leadership that: they were involved in the minting of FTT; they marked book value of confiscated assets too highly; and that the assets were stolen
SBF asked for the co-signers of the $250m bond to remain anonymous, and the request was granted
The DoJ has seized $450m worth of Robinhood shares, and SBF claims that he should keep them in order to pay his legal fees
The SEC is asking what due diligence FTX investors did
Contagion Updates:
Wyre caps each customer’s withdrawal limits to 90% of their total funds (tweet here)
Twitter spat between the Winklevoss brothers from Gemini and Barry Silbert from Genesis
Tl;dr - Gemini lent money to Genesis, and then Genesis lent money to DCG. Genesis can’t pay Gemini back because Genesis doesn’t have enough liquidity at the moment. Genesis is owed money by DCG, but it’s a promissory note, which means that they don’t need to pay right now
Federal prosecutors and the SEC are looking into the transfers between DCG and Genesis (they are both subsidiaries of the same parent company)
Three Gemini Earn users have filed a class action lawsuit demanding arbitration
Genesis also laid off 30% of staff on Thursday
DCG will shut down their wealth management unit, that was managing $3.5b in December
Silvergate stock is down 40%, after they announced $8.1b of withdrawals in Q4 and lay-offs to 40% of their workforce
NY Attorney is filing a lawsuit against Alex Mashinsky for fraud
Kyle and Zhu from 3AC received subpoenas
Huobi is laying off 20% of staff
Vauld has rejected Nexo’s acquisition offer
General news:
Shanghai testnet upgrade scheduled for late Feb (will enable withdrawals of staked ETH)
Israel Securities Authority proposed changes to laws governing digital assets, including classifying digital assets as securities. They are receiving comments until Feb 12. It’s still an open question whether it can pass legislation
Coinbase reached a $100m settlement with the NY Financial Services Dept, and the share price bounced 12%
Telegram is supporting decentralized data storage on the TON network
Candy Digital raised from Galaxy and Consensys in a down round
Mt. Gox repayments will be pushed off another two months, to March 2023
NFT news:
OpenSea adds support for Arbitrum Nova and will be a DAC member
Tiffany’s NFTiff NFT owners received CryptoPunk diamond pendants
Logan Paul and Coffeezilla have an argument over Paul’s CryptoZoo NFT project.
Coffeezilla released this video series
Paul proceeded with a lawsuit and video response
Paul later withdrew the lawsuit, and removed the video
Illuvium released their third blockchain game, Illuvium: Zero
SuperRare is laying off 30% of staff
DeFi news:
DefiLlama’s DEX aggregator tops volumes of all DEX aggregators (including Metamask’s metaswap)
Dedaub firm discovered a vulnerability in Uniswap Universal Router, and received a $40k bug bounty
pwning.eth found a vulnerability in Polkadot in June that put $200m of funds at risk, and received a $1m bounty
Balancer is encouraging LPs to withdraw funds from 5 pools due to an undisclosed vulnerability