Weekly Crypto Market Insights – 14th November
Recapping last week's events - where should we even begin?
Last week was one of the worst in the crypto industry’s history.
There’s no need to sugarcoat it. Let’s face the truth. It’s been a shocking week for the whole industry that will have a lasting impact.
Compared to 3AC and Luna Terra crashes this year, FTX had much more brand awareness, social proof, and credibility. SBF was put on the covers of Fortune and Forbes. The management running FTX and Alameda had stellar track records, founders with MIT, Stanford, Jane Street, Google etc. backgrounds.
They had everyone wrapped around their finger, from the most prominent players in the crypto industry to TradFi, celebrities, such as Tom Brady, Giselle Bundchen, Shark Tank Mr. Wonderful, FTX Arena, and, sadly, retail.
Key Market Metrics
- Binance’ trading volumes were up by 47%
- Coinbase up by 43.73%
- Kraken up by 121%
- FTX out of the leaderboard
Top Gainers & Losers
Top losers were: SOL by -61.00%, CRO by -52.74%, APT by -47.59%, HT by -44.09%, and APE by -43.30%, and, of course, FTT.
Recap of the Most Noteworthy News of Past Week
- Last week’s brief recap by The Block
- The timeline of collapse of SBFs FTX exchange
- Possible compromise of Serum during FTX hack leads to a fork
- $380M worth of FTX tokens issued out of schedule
- $400M accidental transaction by Crypto.com
- When you though it couldn’t get any worse: FTX was hacked
- SBFs inside circle of the FTX & Alameda crisis
- Welcome a new crypto whale: the US government
- What to expect in terms of regulation following FTXs collapse
- Crypto.com reserves revealed including 20% SHIB
- Tether backed by 58% US Treasuries, among other assets
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