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- SBF is troll tweeting while FTX claims bankruptcy and commits fraud
SBF is troll tweeting while FTX claims bankruptcy and commits fraud
Valhalla looks to be gearing up for mint
Exit Liquidity
November 15, 2022
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.
How's it going, degens? This has been one of the longest weeks in Crypto and we hope everyone is hanging in there. It feels like a never ending nightmare because the bad news and crazy stories keep coming and coming. It's also getting harder to tell fact from fiction with the latest round of news and crazy rumors. Quite honestly, some of the confirmed, fact checked stories are far too wild to actual believe that they sound made up.
Every day this week we find out how far the FTX contagion has spread. It seems like each morning we see a new fund, project or exchange report that they are freezing withdrawals or that they were using FTX as their wallet and their funds are stuck.
Here are a few FTX facts that we can confirm right now:
As far as other news reports, stories or "inside" information coming out, a lot of it still has yet to be proven. We have seen everything from Sam Bankman-Fried left on his private jet to Argentina, top members of FTX and Alameda were trying to sneak off to Dubai, FTX is run by a group of people who all date each other, FTX drugged up employees with SBF himself teaching new recruits what pills can do and that SBF used secret backdoors built into their platforms to help transfer funds from FTX to Alameda Research to avoid alerting authorities or other employees. Again, if you scroll through Twitter you will see these stories and more. We cannot confirm any of it and we're only mentioning it so you can get a taste of the craziness surrounding the FTX controversy.
Along with the rise of fake news surrounding this situation, we have seen the rise of "Citizen Journalism." While this is a great way to get information, it can also lead to extra confusion and financial damage as many of these "journalist" are more interested in getting clicks and views as fast as possible instead of verifying the facts. Our only warning here is take anything that hasn't been confirmed with a grain a salt. There were also reports of people spreading and feeding fake reports to simply troll people and have a laugh. As fun as it might be to believe some of the outrageous stories and theories surrounding FTX and SBF, be careful because it might be fake.
There has been been one silver lining in the mess that FTX has created – more transparency. One of the greatest things to come out of this fiasco are all the exchanges, projects and funds proving that they have reserves and capital or, at the very least, they are safe from the FTX tentacles. As small and insignificant as this sounds, can you ever imagine TradFi institutions eager to tweet their holdings or positions to the public?
As we start to see how this unfolds, we will most likely feel the long-term effects of FTX and Alameda committing fraud for some time. Before you start trying to take advantage of the blood in the streets, here is a list of projects in their portfolio. It ranges from DeFi, NFTs, Web3, brokerarges and various financial services. We would also like to note that some of these projects have already made public announcements sharing that they have already cashed their FTX check, funds are secure or they are struggling. Please double check any of the companies shown below before you make any decisions aka DYOR.
Also, we weren't sure where to add this or what to even make of it, but SBF seems to be trolling everyone with faux-cryptic tweets? These might be deleted by the time you read this, but according to his NYT interview SBF said, “I’m making it up as I go.” Well, it definitely shows, in every aspect of his life.
As always, be your own bank. Do not leave any money on an exchange as the saying goes, "Not your keys, not your Crypto." Stay safu out there and stay vigilant.
News Dump
Crypto.com accidentally transfers $400M to Gate.io
Valhalla drops a new a trailer and this project looks bigger than anyone imagined. We have more questions than answers currently, buy still excited for this
Yuga Labs acquires @wenewlabs and @10ktfshop. Bringing on one of the biggest and most successful story-telling NFTs might factor into the future of Yuga's Otherside metaverse
Nike steps further into the Web3 space by launching .SWOOSH, a new digital community and experience
LinksDAO's NFT project, Links Champions, starts minting this week. We can imagine they have to be bummed on the timing of this mint, but the market doesn't wait for anyone or any project
Gary Vee announces the location of Fly Fish Club. Fly Fish Club is a member's only private dining club where membership is purchased on the blockchain as a Non-Fungible-Token (NFT)
Cool Cats partners with Animoca and OneFootball to launch a new dynamic NFT project called Cool Cats FC. This project is based around the upcoming World Cup and will feature the 32 teams competing. Team NFTs will upgrade and change as they progress through the tournament
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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Exit Liquidity is an AlphaMint project.