- Top ApolloX Gainer: HTUSDT (+76.35%)
- Top ApolloX Loser: CHZUSDT (-13.57%)
Crypto exchange Huobi saw its HT token rally over 50% in the last 7 days on rumours that it would merge with crypto exchange Poloniex, under the leadership of TRON founder Justin Sun. Huobi later announced that these rumours were untrue. Meanwhile, CHZ fell over 14% in the last 7 days despite having generated some attention due to it being a blockchain-based sports project, bolstered by the World Cup.
*Data cited from CoinMarketCap
Bitcoin (BTC) started the week falling to a low of $15.6k amid fears about the future of crypto firm Genesis Global Capital and further contagion from the FTX fallout. However, it soon recovered to surpass its weekly opening price, staying above $16.2k for the rest of the week. Even the U.S. Federal Reserve's last monetary-policy meeting on Nov. 24 failed to cause significant waves.
In the derivatives market, BTC open interest marginally increased this week by $41 million as the market starts to calm but remains cautious. Aggregated funding rates slipped to slightly negative from slightly positive. A total of $243 million short positions and $280 million long positions were liquidated this week, with $122 million longs liquidated on Nov. 21 alone when BTC fell toward $15.5k.
- Alameda Research allegedly withdrew $204 million — a majority in stablecoins — from FTX.US before it filed for bankruptcy, according to Arkham Intelligence analysis. (Learn more)
- Digital Currency Group disclosed that it has about $2 billion in debt, most of them intercompany loans. It owes $575 million to its own Genesis Trading arm, and owes Genesis $1.1 billion on a promissory note related to the default of Three Arrows Capital. (Learn more)
- Crypto Twitter influencers are reportedly searching the Bahamas for former CEO Sam Bankman-Fried. One YouTuber Gabriel Haines successfully crowdfunded $10,000 to fly him and his family to the Bahamas. (Learn more)
- Crypto exchange Binance will delist three Serum (SRM) trading pairs, SRM/BNB, SRM/BTC and SRM/USDT, as a result of the FTX fallout. (Learn more)
Investment Talk & Policy
- According to a Bloomberg report, crypto lender Matrixport hopes to raise US$100 million at a valuation of US$1.5 billion. This comes at a time when the industry is dealing with the aftershocks of FTX’s collapse. (Learn more)
- Crypto exchange Binance has released its proof of reserves for Bitcoin and will add other tokens and networks over the next few weeks. (Learn more)
- Kraken CEO and co-founder Jesse Powell called proof-of-reserves “pointless” without liabilities included after Binance released its proof-of-reserves system. Binance CEO Changpeng Zhao reiterated that Binance will involve third-party auditors to audit the proof-of-reserve results. (Learn more)
- Several U.S. state regulators are looking into whether crypto trading firm Genesis Global Capital may have violated securities laws, according to a report from Barron’s. (Learn more)
- Belgium’s Financial Services and Markets Authority said Thursday that cryptocurrencies without an issuer like BTC and ETH are not securities. (Learn more)
- South Korea’s leading blockchain game developer Wemade’s crypto token WEMIX tumbled 70% on Friday after the country’s four largest digital asset exchanges announced that WEMIX will be delisted. (Learn more)
- Singapore authorities have launched a probe into troubled crypto lender Hodlnaut for “possible cheating and fraud,” likely related to former algorithmic stablecoin UST. Hodlnaut also had about 72% of assets deposited in FTX. (Learn more)
- Crypto exchange Huobi has said rumours that it will merge with Poloniex are "categorically untrue.” (Learn more)
- Coinsquare, one of Canada’s largest crypto exchanges, suffered a data breach which exposed customers’ personal data. It claims customer assets are “secure in cold storage and are not at risk.” (Learn more)
- Web3 game publisher Fenix Games has raised $150 million in funding to acquire, invest and distribute blockchain games. (Learn more)
- ApeCoin DAO has launched its own white-label NFT marketplace built by NFT infrastructure company Snag Solutions. The new marketplace lists for-sale NFTs from Yuga Labs-owned NFT collections and Otherdeed NFTs. (Learn more)
What’s New at ApolloX
- CEX Wind Down - ApolloX will shut down CEX in phases and focus resources on ApolloX DEX moving forward. (Learn more)
- ETH support on PancakeSwap Perpetuals - PancakeSwap Perpetual users can now connect to ETH network on the platform to trade perpetuals, powered by ApolloX DEX Engine. (Connect now)
- ApolloX & BNB Chain Glory Pass - Claim an exclusive Glory Pass by BNB Chain on Galxe and unlock a myriad of perks from participating projects! (Claim now)
- #3 BNB Chain DeFi App - ApolloX is in the top BNB Chain DeFi Apps for Unique Active Wallet (UAW) in the last 7 days! Ranked by DappRadar. (Learn more)
Trading & Competitions
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- World Cup Prediction Challenge - ApolloX is giving away $3,000 APX to traders who predict the winning teams for the World Cup 2022 Semi-Finals! (Predict now)
Risk Reminder: Crypto trading carries a risk. All trading activities are done at your discretion and at your own risk. The information here should not be regarded as financial or investment advice from ApolloX. ApolloX will not be liable for any loss that might arise from your use of any financial product.
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