Bahamas ordered FTX hack

Welcome to the Exit Liquidity newsletter, the place to stay up to date on the ridiculous things that happen in the Crypto, NFTs & Web3. If you are looking to join the community check out the AlphaMint Discord where all the degens gather to chat in the dojo.

Another day, another crazy FTX story. This week on the Exit Liquidity show we catch up on the never ending FTX and SBF saga, Valhalla drops a long thread chalk full of project details plus mint info and we chat about the future of fashion in NFTs and digital collectibles.

Watch Episode 15 Now!

It hard to believe that the FTX story can get crazier, which we talk about on the Exit Liquidity show, but it does. The latest info to come out:

• The Bahamian government orders SBF to transfer all FTX funds

• Alameda Research gave Sam Bankman-Fried a $1 billion personal loan

• FTX did not have a list of employees or their roles

• Alamenda had a secret exemption from auto-liquidation on FTX

• Sam Bankman-Fried often communicated using apps that auto deleted messages and encouraged employees to use them too

The FTX bankruptcy court filings were almost too unrealistic to believe, but you can read the entire thing for yourself here if you want. We grabbed a few of the highlights, but it's much worse than you think.

If you want to read the NYT puff piece or VOX article we talk about in the episode, you can find them here:

• How Sam Bankman-Fried’s Crypto Empire Collapsed (no sign in wall)

• Sam Bankman-Fried tries to explain himself

Here is the Valhalla thread:

Key points:

• They raised $15M in VC funding

• They started the application meta (not a brag in my book, but okay)

• They have partnerships with top esports teams

• A bunch of influencers won their presale slots (expect future shilling)

• Mint price is .5 ETH (they also use a silly chart to try and justify this price)

• Primary sale is 9K and they are reserving 1K for daily dutch auctions that will start after mint

• Mint date is November 22nd, 2022 at 12PM PST for WL

• WL is made up of two roles: Allegiants who pay .5 ETH per mint and Immortals who pay .35 ETH per mint, both are guaranteed 2 mints

• Presale bidders (those who did not win presale) are guaranteed 1 mint at .5 ETH starting Nov. 23rd at 9AM PST

• Public sale goes live Nov. 23rd at 12PM PST for .5 ETH per mint and is first come first serve. Get ready for a gas war!

• They are making their own marketplace

• They are building a streaming platform

This is also the tweet from Alex Lin we were talking about in the episode. If you read through the thread Wab does a good job asking questions with the team, including Alex, responding.

News Dump

• Gemini announces they are the latest FTX victim and pauses withdrawals

• Azuki partners with Red Bull Racing to bring the sport it's first-ever NFT character on an F1 car

• DigiDaigaku and EtherOrcs partner to give genesis holders their own playable character in the orc dungeons

• MetaMask launches a new product to fight against phishing scams

• Sony looks to be the next big name entering the NFT space. They recently filed a patent for "Tracking Unique In-Game Digital Assets Using Tokens on a Distributed Ledger"

• Rolex also seems to be entertaining the idea of NFTs as well with their latest trademark application. It reads more like trademark protection than anything else though. When you read the application list it mentions NFTs, digital collectibles, candles, perfumes, knives and many more things that have nothing to do with NFTs, crypto or even a broad tech use case

• LinksDAO project, Links Champions, sells out. They are set to reveal Friday, Nov 18th at 11:18 AM EST

• Prometheans mint goes live. In this gamified mint, it pits degens against the block as well as the clock. We think most people had no idea what they were getting into when they minted. Degens most likley saw alerts or notifications of a popular mint not realizing their assets are locked for 72 hours

• Circle now offers customers use of Apple Pay which means you can use Apple Pay to buy things in USDC

Disclaimer: The Exit Liquidity Newsletter is meant to be an informational and entertaining way to share interesting things found in and around the Crypto, NFT and Web3 space. Nothing in this newsletter should be taken as the contributor's, Exit Liquidity's or AlphaMint's personal opinion or views. Nothing in this newsletter constitutes as professional and/or financial advice. Cryptocurrencies and crypto-related assets can be extremely risky investments, invest at your own risk.

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