Monday November 21, 2022

Your Weekly Update On All Things Crypto

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TL;DR

FTX Collapse Continues to Batter Industry As Genesis And BlockFi Suffer
Former Silicon Valley Star Found Guilty, Sentenced To 11 Years In Prison
Bybit Reveals Exchange Holding Wallet Addresses
Coinbase Files Amicus Brief in Support of Ripple Labs In SEC Lawsuit
Bitcoin Capitulates as Market Sentiment Hits Cycle Lows
ETH/BTC Signals Short Term Decline and Retest of Ascending Support

MACRO NEWS

FTX Collapse Continues To Batter The Industry As Genesis And BlockFi Suffer...

Prominent cryptocurrency lender Genesis recently sought out a $1 billion emergency loan via investors before suspending withdrawals on its website, citing a confidential fundraising document. According to the document obtained, Genesis is experiencing a liquidity crunch as a result of certain illiquid assets on its balance sheet.

Former Silicon Valley Star Found Guilty, Sentenced To 11 Years In Prison...

Elizabeth Holmes, the founder of Theranos, has been sentenced to more than 11 years in prison for defrauding investors in her blood testing startup, which was once valued at $9 billion. At one point in time, Holmes was dubbed the next Steve Jobs and was said to be the worlds youngest self made billionaire.

Bybit Reveals Exchange Holding Wallet Addresses...

On November 16th, popular crypto exchange Bybit made the addresses of its biggest crypto wallets public. This followed the collapse of FTX and industry calls for increased transparency. It was through a recent press release that Bybit had listed the addresses.

Coinbase Files Amicus Brief in Support of Ripple Labs In SEC Lawsuit...

Coinbase has formally filed an amicus brief in support of Ripple Labs Inc. in the 2020 lawsuit filed by the Securities and Exchange Commission against Ripple.

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TECHNICAL ANALYSIS

Bitcoin Capitulates as Market Sentiment Hits Cycle Lows

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ETH/BTC Signals Short Term Decline and Retest of Ascending Support

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We at CryptoWeekly are not Financial Advisors. None of the content or opinions expressed in this newsletter should be considered financial advice. We highly recommend that you do your own research before investing in any project within or outside the cryptocurrency space.