- Top ApolloX Gainer: AXSUSDT (+17.23%)
- Top ApolloX Loser: BNXUSDT (-25.22%)
GameFi projects Axie Infinity (AXS) and BinaryX (BNX) took the spotlight this week. AXS rose over 17% in the last 7 days, potentially because of the introduction of its new game mechanic Axie Core. In contrast, BNX fell over 28% in the last 7 days following rumours of its developer team selling treasury tokens.
*Data cited from CoinMarketCap
Bitcoin (BTC) price traded sideways this week, falling from $17.3k to $16.8k before regaining its losses and ending the week at $17.1k. The coin had fallen mid-week after renewed fears that the U.S. Federal Reserve would continue with harsh interest rate hikes, but then surged on December 9. In the derivatives market, as compared to last week, BTC open interest decreased by $252 million and aggregated funding rates remained negative. A total of $103 million short positions and over $154 million long positions were liquidated.
- The U.S. SEC said publicly-listed firms must disclose any exposure to the crypto market under federal securities laws, in light of the FTX fallout. (Learn more)
- Institutional crypto trading platform FalconX disclosed that while 18% of its "unencumbered cash equivalents" remain locked on FTX, it has enough capital to continue operating. (Learn more)
- Schall Law Firm plans to investigate FTX for issuing misleading statements or failing to disclose crucial information. It advised all FTT investors to participate by sharing information linked to their purchase and sale of FTT tokens. (Learn more)
- Crypto media site The Block secretly received a total of $43 million over the last two years from Alameda Research. The Block’s CEO, Michael McCaffrey, who used $16 million to purchase personal real estate in the Bahamas, has resigned. (Learn more)
- Former FTX CEO Sam Bankman-Fried has missed the deadline to respond to an upcoming hearing set by the U.S. Senate Committee on Banking, Housing, and Urban Affairs. (Learn more)
- Messages seen by The Wall Street Journal of a Signal group chat revealed an argument between SBF and Binance CEO Changpeng Zhao, who worried that SBF was attempting to destabilize the crypto market to save FTX. (Learn more)
Investment Talk & Policy
- The UK government announced the “Edinburgh Reforms”, a package of over 30 reforms to financial regulation, including the extension of tax breaks for investment managers to cover crypto assets. (Learn more)
- India is looking to the International Monetary Fund to lead consultations around crypto assets regulation during its G-20 presidency. (Learn more)
- Many in the crypto space find that recently published proof-of-reserves and proof-of-liabilities reports from crypto exchanges, conducted by accounting firm Mazars, are insufficient. Mazars has been engaged by exchanges Binance, Crypto.com and Kucoin. (Learn more)
- Crypto trading firm 3Commas has denied responsibility for any stolen user API keys, after crypto trader CoinMamba on Twitter claimed that his API key tied to 3Commas was leaked, causing funds to be lost from his Binance account. (Learn more)
- Lending protocol Lodestar Finance suffered a flash loan exploit after anattacker manipulated the price of the plvGLP token before borrowing all platform liquidity using the inflated token. (Learn more)
- Crypto mining firm Argo Blockchain has reportedly accidentally revealed a petition for bankruptcy. (Learn more)
- Uniswap community members will vote on a series of governance changes that Uniswap said would streamline voting in its DAO, such as reducing the requirement for off-chain "snapshot votes" that precede on-chain votes. (Learn more)
- Crypto exchange Coinbase launched a campaign to encourage retail customers to convert USDT to USDC, highlighting questions about Tether’s reserves. Coinbase is a co-founder of USDC. (Learn more)
Digital Assets & Web3
- Starbucks new Web3 rewards program Starbucks Odyssey, built on Polygon, is reportedly seeing “unprecedented” demand. (Learn more)
- Yuga Labs and crypto payments infrastructure firm Moonpay are facing a class-action lawsuit for allegedly using celebrities to misleadingly promote and sell NFTs. (Learn more)
What’s New at ApolloX
- DEX Engine Partnership - ApolloX is pleased to announce the latest partnership for the DEX Engine with StarShip! (Learn more)
- CEX Wind Down - Take note of these key dates in the CEX wind down timeline! (Learn more)
- Perpetual Contracts Updates - ApolloX will adjust the maximum leverage and margin tiers of multiple perpetual contracts. (Learn more)
- New Price Bot - ApolloX has added the CoinMarketCap Price Bot to all ApolloX Telegram communities. Command /p <symbol> to view the real time price and market statistics of tokens! (Try it out)
Trading & Competitions
- Experience DEX & Win - To thank loyal CEX users and encourage more to experience ApolloX DEX, ApolloX is hosting a DEX campaign for users to win up to 18,000 APX! (Trade now)
- ApolloX & BNB Chain Football Fiesta - Earn up to 1,065 APX in rewards daily when Glory Pass holders deposit and trade on ApolloX DEX! (Trade now)
- ApolloX & Trust Wallet Bounty Hunt - Mint a free OAT NFT and win exclusive futures bonus tokens when you complete simple tasks! (Join 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.
The ApolloX app is available on Apple Store or Google Play here.
Stay up to date with ApolloX!
Telegram | Twitter | Facebook | Instagram | Discord |ApolloX News Station | CMC Community