The story of the ruined Sam Bankman-Fried`s empire will drag on for a long time, revealing more shocking details.

The crypto world will come to its senses sooner or later.

That's why things don't stop with FTX alone.

Bye, FTX & SBF. FTX, Alameda, and 130 other affiliates are starting Chapter 11 bankruptcy and reorganization proceedings, and the companies and tokens in which they invest are also on the verge of liquidation.

Sam Bankman-Fried has resigned as CEO. Another unprotected project.

Stablecoin-focused, Ethereum-based decentralized exchange, DFX Finance, lost about $7.5 million in a digital asset hack.

According to PeckShield, that break-in was made possible "Due to the lack of proper reentrancy protection."

The first full-stack physical NFT marketplace called ClubRare announced a contest on the eve of the launch of Beta 2.

It will give away $100,000 worth of tokens to the first community members.

To participate in this competition, users need to provide liquidity to Club Rare Uniswap tokens.

ClubRare will also hold a so-called ClubRare Partner Day, which will be held both in the Metaconset and physically in New York City.

Major oil and gas company Shell will offer bitcoin miners its lubrication and cooling solutions.

The giant will sponsor the 2023 and 2024 bitcoin conferences.

An agreement has been signed with Bitcoin Magazine, the organizer of the events.

Excessive buying demand tends to pressure the indicator above fair value at 100% and during bearish markets, the stablecoin's market offer is flooded, causing a 4% or higher discount.

Despite the 24% drop in total cryptocurrency market capitalization, no panic selling came from Asian retail investors.

Traders can gauge the overall sentiment of the market by measuring whether more activity is going through call options or put options.

Still, the Bitcoin options market remains more strongly populated by neutral-to-bearish strategies, as the current 0.63 level indicates.

Combining the absence of stablecoin demand in Asia and negatively skewed perpetual contract premiums, it becomes evident that traders are not comfortable that the $850 billion market capitalization support will hold in the near term.

When trying to confirm the availability of funds on Crypto.com, cold store information revealed a suspicious transfer of 320,000 Ether.

Regardless, Marszalek confirmed that Gate.io returned the funds to Crypto.com's cold storage and reassured the investors that new processes and features were implemented to prevent a reoccurrence.

While on-chain data confirms that Gate.io returned 285,000 ETH back to Crypto.com, Marszalek stated that all funds were returned.

Further investigation showed that the missing 35,000 ETH was sent to a different address, which is yet to be confirmed by the crypto exchange.

Back in August 2022, it was found that Crypto.com accidentally sent AUD $10.5 million to Melbourne-based investors, which was supposed to be an AUD $100 refund.

We share the belief that it should be necessary for crypto platforms to publicly share proof of reserves and https://t.

With most crypto businesses willing to share their proof of reserves, investors now have the opportunity to confirm the existence of their funds, which ultimately prevents business owners from misusing the cold storage funds.

Erin believed that people running Mt. Gox and LUNA ecosystems "Looked" sketchy and did not try too hard to whitewash themselves enough to change investor perspectives.

On the other hand, Buterin said that "FTX was the opposite and did full-on compliance virtue signaling."

While virtue signaling relates to the practice of publicly demonstrating one's good character, Binance CEO Changpeng "CZ" Zhao showed disappointment in FTX for misappropriating user funds, which according to him, has set the industry a few years back in terms of regulatory acceptance and mainstream adoption.

"SBF, the public figure deserves, what it's getting and it's even healthy to have a good dunking session to reaffirm important community values."

Given their length of acquaintance, Buterin believed that Sam, as a person, deserved love and support, adding that "I hope he has friends and family that can give it to him."

Not everybody was willing to cut some slack for the troubled entrepreneur.

Creator Billy Markus believed that SBF also deserved some jail time - a point of view resonating with small investors who recently lost their funds.

To avoid an FTX-like situation from happening, the crypto community has proactively begun cross-checking the cold storage funds and has started demanding clarifications for the on-chain anomalies.

Most recently, the community questioned Crypto.com's intent with transferring 320,000 ETH from an in-house cold wallet to Gate.io.

Crypto.com CEO Kris Marszalek clarified that the funds were accidentally sent to a whitelisted address on Gate.io that was owned by Crypto.com.

"If an exchange have to move large amounts of crypto before or after they demonstrate their wallet addresses, it is a clear sign of problems. Stay away," warned CZ. Delivered every Monday.

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