🦎🚀 All the monies gone 💸

Friday, March 3, 2023

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Plz bounce this weekend

In a presentation by FTX Debtors, it has been revealed that FTX.com faces a massive shortfall in assets.

$2.2 billion of assets have been located, and against these holdings are $9.3 billion in net borrowing by Alameda Research. When it comes to FTX US, only $191 million in assets have been recovered, compared to $335 million in customer claims and $283 million of related party claims.

In today's news Shanghai upgrade likely to occur in April, Silvergate clients continue to flee, and US senators send a letter to Binance.

Read on!

Breakdown of Crypto Funding by Sectors

Funding shifted from CeFi to DeFi last year. The amount raised by DeFi projects jumped 190% despite the decrease in overall funding, while CeFi raised 73% less.

Perhaps a sign of the industry progressing towards more on-chain participation?

Find out how much other sectors raised

Get a First Look at Near's Blockchain Operating System

Join Near Day on March 2nd at ETHDenver for a mini-summit on the exciting new products and tech in Near's ecosystem.

Get a first look at the Near Blockchain Operating System — a common layer revolutionizing Web3 browsing and discovery, compatible with any blockchain.

If you won't be in Denver for Near Day, you can still check out the Blockchain Operating System and other ecosystem news by tuning in to the Near YouTube livestream.

To tune in to Near Day on March 2nd, head to near.org/denver for the livestream link.

24h Hot Searches Worldwide

ZigZag (+25.7%)
Vela Token (+2.5%)
Aura (-10.5%)
Blur (-7.8%)
GMX (-8.4%)
Optimism (-5.4%)
Kwenta (+4.4%)

Is LSD the next BIG crypto trend in 2023? Watch this video to find out why Rocketpool has been in the spotlight lately 🚀

Tap here to watch!

Anticipation prolonged!

The much anticipated Shanghai upgrade for the Ethereum network will likely occur in April.

Initially, it was slated for a March release, but the network's core developers have since determined that it will proceed in April instead. The Goerli testnet of the upgrade will be deployed on or around March 14, and the actual upgrade will take place in mid-April

Once live, it will enable the withdrawal of staked ETH, which currently accounts for about 14.5% ETH in circulation.

Decrypt

Flee the Silvergate!

Heavyweights from the crypto industry have continued to suspend partnerships with Silvergate Bank.

This comes after the crypto-friendly bank announced that it will be reviewing its books with its auditors and delayed its annual 10-K filing. Industry clients which have since left Silvergate include Coinbase, Paxos, Circle, Crypto.com, Bitstamp, Gemini, and others.

CoinDesk

Take a peek beneath the hood

Three United States senators led by Elizabeth Warren have sent a letter to Binance CEO Changpeng "CZ" Zao and Binance.US CEO Brian Shroder, with a list of questions.

The letter claims there is evidence that the companies attempted to evade U.S. regulators, and evade sanctions. The senators requested documents, including balance sheets from 2017 to the present.

Cointelegraph