Crypt. Results November 8

Binance will buy FTX

American regulators have begun to monitor the situation around Binance and FTX.

Civil Warswhales continue - the entire crypto market suffers.

Users report that FTX does not allow withdrawing more than 1000 USDC in a single transaction - cryptans bypass this limitation with smaller multiple withdrawals.

Elvira Nabiullina said that digital currencies can help Russia trade with foreign partners.

About 20% of the net inflow on Binance over the past 7 days is FTX (~1.17 billion).

An Argentine neobank with 4.5 million customers, backed by George Soros, has launched a cryptocurrency trading service for its users in Argentina.

A Binance spokesperson said that small crypto exchanges and startups will benefit from the regulation of crypto assets in the European Union (MiCA).

Mastercard CEO Michael Miebach: “It will take a long time for the universal adoption of cryptocurrencies.”

Dumpcrypts: Development of events

1.       Internecine whale wars continue
ByBit CEO publicly accuses Sam of sellingBIT tokens that he should not have sold. The ByBit community has put forward a proposal - if FTX does not show where 100 million BIT are, then they, in turn, are ready to drain all FTT.
Colin Wu stated that if Sam really violated the agreement not to sell BIT tokens for the sake of $30 million, then Alamaeda and FTX really have problems with liquidity.
CZ also decided to add fuel to the fire and reported that Binance cold wallets hold $8 billion in Ethereum - showing that “we need Ethereum, and we are draining FTT.”
Everything would be fine, but ordinary users will suffer from this war.

2.CZ Bans Shorting FTT Token on Binance
“The exchange currently does not have enough leverage capabilities.”

3.Users report that FTX does not allow withdrawing more than 1000 USDC in a single transaction - cryptans bypass this limitation with smaller multiple withdrawals.
In the last few hours alone, one address has withdrawn $947-$987 more than 50 times.
It is not yet known how widespread the situation is.

4.About 20% of the net inflow on Binance over the past 7 days is FTX (~1.17 billion).
Similar events took place from November 2 to November 11, 2020, when ~18,652 BTC were received from Huobi to Binance.

5.Alameda, Sam's pocket shop, provided the BitDAO team with proof that they had not sold anything and were still holding 100 million BIT tokens.
The question of who leaked millions of tokens on the market remains open. The community has already come up with a theory in which FTX sold tokens, but then bought them back after the drain.

6.FTX has stopped processing withdrawalson the Ethereum, Solana and Tron networks - the last outgoing transactions from the hot wallet were more than two hours ago.

7.FTX announces strategic deal with Binance.
In a tweet, Curly Sam thanks CZ for helping to secure the withdrawals and growing the global crypto ecosystem, also stating that there is no more conflict between exchanges.

8.Binance will buy FTX
CZ:FTX reached out to us this afternoon for help.There is a significant liquidity crisis. In order to protect users, we have signed a memorandum intending to fully acquire FTX and help cover the liquidity crunch.

9.American regulators began to monitor the situation around Binance and FTX.