Weekend Recommended Reading: Review of FTX Events; Inventory of 12 Binance Labs Incubation Program Shortlisted Projects

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《[Event Review] FTX is in jail, Binance abandons the acquisition, the Lehman moment in the encrypted world "

November 10 , according to the WSJ, FTX faces a liquidity gap of up to $8 billion. When Binance conducted its due diligence on FTX, it was alarmed by its huge financial hole, people familiar with the matter said. And FTX employs fewer than 400 people, and its work-intensive business is facilitating the trading of cryptocurrencies, which requires anti-money laundering investigations of customers. Subsequently,

Binance officially issued a document stating that it decided not to seek a potential acquisition of FTX.com based on the results of the company’s due diligence. Initially, Binance hoped to support FTX's customers and provide liquidity, but these issues were beyond Binance's control or ability to help. So what happened in just four days? This article is a review of this event.

SBF Letter to Employees The Last Letter (Full Text)"

On November 11, FTX officially issued a statement saying that it had Filed for bankruptcy reorganization. SBF has resigned as CEO of FTX and has been replaced by John J. Ray III. Before resigning, SBF sent a letter to all employees for a simple explanation and apology.

FTX’s $8 billion shortfall has discouraged Coinbase, OKX, and even Binance, which has the largest amount of funds. SBF, whose worth has shrunk by more than 90% from $19 billion in 3 days, is still looking for a way to Bailout. When the world's second largest encryption trading platform is destroyed within 3 days, this is what the founder most wants to say to his employees.

"Which institutions still have money In FTX? "

On November 10th, Binance officially issued a document stating that according to the results of the company’s due diligence and related improper handling The decision not to pursue a potential acquisition of FTX comes amid recent reports of client money and investigations by alleged U.S. agencies. Initially, Binance hoped to support FTX's customers and provide liquidity, but these issues were beyond Binance's control or ability to help. The crypto industry was once again in turmoil when bankruptcy concerns forced FTX to accept a non-binding takeover bid from Binance that fell through. FTX suspended withdrawals on Tuesday, but some peers and major trading institutions still have assets frozen in FTX. So which institutions' money is still in FTX?

How Much Money Are Top VC Funds Like Temasek, Paradigm Losing in FTX? "

The crisis of FTX not only makes customers "in trouble", but also investors It was also hit hard. The highest valuation of FTX was 32 billion US dollars, and the cumulative financing reached 1.8 billion US dollars. Among them, there are many top international venture capital institutions. Who is the main "taken advantage"? Forbes has a list of FTX shareholders, which was sent to Forbes by SBF in August during the report of the Forbes 400 list. The following are the main investors

"10 Charts Review FTX's Liquidity Crisis"

Two days ago, FTX CEO SBF issued a document stating that everything is normal for FTX and the funds are safe enough to cover all customer assets. Two days later, due to the huge liquidity crisis, SBF had to announce that FTX had reached an agreement with Binance on a strategic investment transaction. What happened to FTX, DeFi researcher Ignas reviewed the recent liquidity crisis of FTX through 10 charts.

《CZ in trade second Days to employees: This is not a victory"

Binance CEO CZ is plotting to save competitors The next day said that FTX's near-collapse had "seriously shaken" confidence in the crypto industry and would trigger greater scrutiny from regulators. In a memo to employees, CZ said the bailout cemented Binance's position as the world's largest cryptocurrency exchange, but it was not "a victory." The CEO admitted that the acquisition of FTX, creating by far the largest cryptocurrency exchange in the world, would make Binance a target.

"SBF first time after thunderstorm External explanation (full text): made two mistakes"

"I screwed up, it was all mine Liability, sorry." "FTX International (not FTX US) currently has a total market cap of assets/collateral higher than customer deposits (moving with crypto market prices). But this is not the same as the liquidity of deliveries - as can be seen from the status of withdrawals There was a huge change in liquidity, from high to nearly dry. I'm still adding details to what I'm about to tell, I made a big mistake, and I screwed up twice." After Lei, SBF explained the full text for the first time.

《AC: I was wrong Lessons Learned"

There are no shortcuts, no quick successes. I have always liked a sentence from the greatest DeFi founder I think. When we were discussing most of the stories that happened in the past four years, he told me, "Keep running until the end."

"Inventory 12 Binance Labs Incubation Program (Season 5) Shortlisted Projects"

Binance Labs' The Incubation Program is a platform that provides market opportunities, community support, and institutional guidance for new projects. The star projects that participated in the Binance Labs Incubation Program in the past will receive initial funding from Binance Labs and various support for project development. Recently, the fifth season of Binance Labs Incubation Program started, and 12 top-performing projects have been shortlisted. Odaily Planet Daily will take a look at these finalists with great potential.

The Ethereum Roadmap Advanced Road"

On July 21 this year, V God participated in the Ethereum community meeting held in Paris (ETHCC) said in a speech that Ethereum can achieve 100,000 TPS after completing 5 key stages. Some content resources mentioned in this article are essential for readers to understand the updated Ethereum roadmap.

《Confirm Token, Binance What's different about Lifeform, the DID project that led the investment? "

As Web 3 rushes into the Web 2 world with a more forward-looking technology attitude, the field of encryption is derived A lot of Web 3 products and concepts have been released. Some time ago, Web 3 domain names took the lead in triggering a wave of enthusiasm, and major institutions have also launched Web 3 domain name suffixes (.eth, .bnb, .bsc, .sol, etc.), this article will Introduce Lifeform, a recent popular visual DID project.

Previously on August 3, Lifeform, a provider of decentralized visual digital identity (DID) solutions, announced the completion of a seed round of financing led by Binance Labs. Lifeform's existing core technologies include: realistic 3D avatar creation tools, visual DID protocols, secure and innovative contract solutions, Web3 avatars based on decentralized identity systems, Metaverse Engine software development kit (SDK).

《BlockBeats since the establishment of the largest APP Upgrade to unlock new features immediately"

BlockBeats App V3 is officially launched. The new version supports users to log in with their Twitter accounts, and completes the mobile integration of the Mirror content retrieval tool "MirrorBeats". Other major version updates include:

- Added the "Personal Library" function, which supports users to create and share collections of personally compiled themed articles .

- Fully optimize the UI interface and add "night mode".

- Added the "Selected Comments" function to quickly view the hot opinions of big Vs and KOLs.

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