Riding The Wave News Summary 98

Crypto Influencer BitBoy Flies to Bahamas to Find Sam Bankman-Fried - This is What Happened, Alameda Research withdrew $204M ahead of bankruptcy filing: Arkham Intelligence, & more

Nov 27, 2022

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Ram Ahluwalia, crypto CFA @ramahluwalia

1/ DCG published a letter to investors. It clarifies several misconceptions. It also raises new questions around the Promissory Note. I have pored over this and the Grayscale 10-Q to connect some dots. We'll cover what happened and what we learned. Let's break it down... 🧵

Root 🥕 @therationalroot

Halving progress 64%. #Bitcoin

unusual_whales @unusual_whales

Buy now, pay later is driving Gen Z into debt, per Bloomberg.

Tascha @TaschaLabs

This is why stocks aren't selling off more-- Whatever doomsayers tell you, the economy is actually doing great...while inflation is coming down. Fed may get the 'soft landing' it wanted after all.

Watcher.Guru @WatcherGuru

JUST IN: 🇷🇺 Russian President Putin calls to create a digital payment system for international settlements, independent from banks and third parties.

Crypto Influencer BitBoy Flies to Bahamas to Find Sam Bankman-Fried - This is What Happened

Prominent crypto influencer Ben Armstrong, aka BitBoy Crypto, has flown to the Bahamas in a bid to talk to Sam Bankman-Fried, FTX founder and its former CEO.
Over the past couple of days, BitBoy has been posting tweets and sharing pictures of himself camping outside Bankman-Fried's home in the Bahamas.

BitBoy's recent tweets show that he might be even stalking SBF. He has ostensibly even found SBF's car, which is a Corolla.

However, as reported, the US House Financial Services Committee plans to investigate the collapse of FTX and hold a hearing on the matter next month.

The government usually moves slowly in situations like the FTX collapse as long as the contagion doesn’t spread to the core financial system, although even when it does move, I dont expect Sam to face heavy punishment. Recently Elizabeth Holmes was sentenced in court for the Theranos fraud situation, which I feel is a good example of how light the punishment for FTX will likely be.

Full Article

Alameda Research withdrew $204M ahead of bankruptcy filing: Arkham Intelligence

Alameda Research withdrew over $200 million from FTX.US before it filed for bankruptcy, according to analysis from blockchain firm Arkham Intelligence disclosed on Nov. 25.
In a Twitter thread, Arkham revealed that Alameda Research, FTX’s sister company, pulled $204 million from eight different addresses of FTX US in a variety of crypto assets, the majority of them stablecoins, in the final days before the collapse.

Of the Ether transferred, $35.52 million was sent to FTX and $13.87 million was sent to a large active trading wallet. The firm noted that it’s “unknown whether the almost 14M in ETH was sent to 0xa20 as part of a trade, or as an internal fund transfer within Alameda.
Another $10.4 million was sent to the rival cryptocurrency exchange Binance.

Full Article

Binance Founder CZ Says Crypto Adoption Will Happen ‘Regardless’ of Government Decision on Regulation

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