Evening News ｜Alameda Research staff leaves; Sun Yuchen claims he is ready to provide billions of dollars for FTX

Organizer: flowie, ChainCatcher

"What Important Events Happened in the Last 24 Hours"

1. Alameda Research and FTX Charity Fund FTX Future Fund All Resign

According to TechFlow, Alameda Research held a meeting today and all employees resigned, with some sending farewell messages to former VC partners. On November 10, SBF tweeted that Alameda Research was ending trading in some way.

Earlier reports indicated that the FTX charity fund FTX Future Fund team issued an open letter stating, "The team collectively resigned this morning, and we are now unable to work or process grants. We apologize that the FTX Future Fund may not be able to fulfill many promised grants. We condemn any deceptive or dishonest behavior by FTX leadership in the strongest terms." (Source link)

2. Justin Sun: Ready to Provide Billions in Aid to FTX

Justin Sun stated in an interview with Bloomberg that he is ready to provide billions in aid to FTX.

Earlier reports indicated that FTX tweeted that it had reached a cooperation agreement with Tron to establish a special channel allowing holders of TRX, BTT, JST, SUN, and HT to exchange assets from FTX 1:1 to external wallets. Reuters cited sources reporting that SBF is seeking $9.4 billion in rescue funds for FTX, including $1 billion each from Tron founder Justin Sun, OKX, and Tether, totaling $3 billion; plans to raise $2 billion from other funds and consortiums; and the remainder from other investors. (Source link)

3. Forbes: Sequoia Capital, Temasek, and Paradigm Will Be the Three Investment Institutions with the Largest Losses from the FTX Incident

According to exclusive news from Forbes, a shareholder list obtained shows that Sequoia Capital, Temasek, and Paradigm will be the three investment institutions with the largest losses from the FTX incident.

Forbes pointed out that Sequoia Capital currently holds a 1.1% stake in FTX, with an estimated investment of about $200 million; Temasek holds a 1% stake, with an estimated investment of $205 million; and Paradigm holds a 1% stake, with an estimated investment of $215 million. If these institutional investors cannot "cash out" within a month, they are likely to end up with nothing. The report noted that the relevant analysis data does not include FTX's U.S. business, FTX.US.

Additionally, Bloomberg cited informed sources reporting that SoftBank invested nearly $100 million in FTX and expects to write down the investment as a loss in December. Bloomberg stated that SoftBank did not disclose the actual amount it invested in FTX. (Source link) (Forbes)

4. NFT Whale Deepak.eth Selling Blue-Chip NFTs to Raise Funds Due to FTX Liquidity Crisis

NFT whale Deepak.eth claimed on Twitter that due to his project Chain Protocol, of which he is CEO, having an eight-figure risk exposure on FTX, the project is facing liquidity issues. Therefore, he decided to sell a large number of valuable blue-chip NFTs to raise funds. Deepak.eth has listed all the NFTs for sale on Twitter, indicating he is considering selling them in a package for 8000 ETH or at the highest price individually. (Source link)

5. He Yi: Binance Has Suspended Selling FTT and Has Not Increased Its Holdings

In response to Twitter user @Phyrex_Ni mentioning that "Binance's holdings of FTT saw a significant increase at 3 AM Beijing time on November 9, and now the FTT stored in all Binance-controlled ERC20 addresses is nearly 42 million. CZ not only did not sell any FTT but instead increased his holdings nearly by double."

In this regard, Binance co-founder He Yi replied: "1. Labs indeed still has a lot of FTT, originally planned to sell it off in a few months; after Sam's call, selling was paused, as selling during the crash is meaningless; the reasoning is similar to when we didn't sell during Luna's crash.

2. The increase should be user deposits; Binance has not increased its holdings. To avoid community misunderstandings, I’ll explain a bit, which might break some conspiracy theories, but transparency is better." (Source link)

6. IBC Group Founder: SBF Related to LUNA and 3AC Collapse, Zhao Changpeng's Warnings Ignored

Mario Nawfal, founder and CEO of investment company IBC Group, tweeted: "An insider shared in my space the story of FTX founder Sam Bankman-Fried (SBF) causing the LUNA collapse and taking down Three Arrows Capital, and Zhao Changpeng knew about it. Zhao Changpeng warned SBF multiple times about his reckless behavior, but SBF ignored him. As things worsened, Zhao had no choice but to make this public. This led Zhao to tweet three days ago, which brought down FTX. I checked the source to ensure it wasn't misinformation, and it turned out to be a very close friend of Zhao, and the informant is a senior figure at a major centralized exchange."

However, Mario Nawfal stated that he deleted the tweet (specifically describing the above incident) because the informant faced immense pressure and threats, and he deleted it to avoid putting that person in a difficult position.

Previously, Zhu Su, co-founder of Three Arrows Capital, retweeted the above tweet. Zhu Su had tweeted that Alameda had been taking the opposite side of FTX users, but the LUNA incident caused massive losses. (Source link)

7. Aptos Partners with Google Cloud to Launch Accelerator Program

Aptos announced a partnership with Google Cloud, which will support some of its validation nodes and other services. The Aptos blockchain will also be indexed and included in Google Cloud's BigQuery service.

Additionally, Google and the Aptos Foundation will launch an accelerator program and co-host a hackathon next year. (Source link)

8. Digital Payment Solution Ping Completes $15 Million Seed Round Financing, with Participation from Y Combinator and Others

Digital payment solution Ping has completed a $15 million seed round financing, with investments from Y Combinator, Race Capital, BlockTower, Danhua Capital, Signum Capital, and Goat Capital. After this round of financing, Ping will expand its platform for freelancers and the gig economy.

Ping is headquartered in Miami and is built on Latamex, which provides cryptocurrency and fiat currency deposits and withdrawals in Latin America, allowing any individual, organization, or company to create a free international dollar account and receive bank transfers, enabling users to trade cryptocurrencies like Bitcoin and to deposit or withdraw USD. (Source link)

"What Exciting Articles Are Worth Reading in the Last 24 Hours"

1. *How Much Have Top Institutions Like Temasek and Paradigm Lost in FTX?

The crisis at FTX has not only left customers "in distress" but has also severely impacted investors. FTX's peak valuation was $32 billion, with total financing reaching $1.8 billion, including many top international venture capital firms. Who are the main "losers"?

Forbes has a shareholder list from FTX that SBF sent to Forbes during the reporting of the Forbes 400 list in August. This article analyzes the expected losses of major investors.

2. FTX Employee's Account: We Have Lost Our Life Savings

A screenshot of an FTX employee's account circulated in the community, stating: "I am a source close to the situation at FTX. Many employees' life savings are in FTX. Employees are actively developing products that can more easily automate remittances to FTX. This has been promoted both internally and externally. And SBF has ruined the lives of many of his current and former employees…"

3. The Battle for Web3 Traffic Entry: Who Will Win, Wallets, CEX, or DApps?

The current Web3 industry is still in its early stages of development, and compared to the traditional Web2.0 industry, the capture of traffic is still relatively primitive, usually conducted in a rough manner.

This article categorizes Web3 entry points based on different user behaviors, briefly describes their characteristics, and compares the main entry points within the same category. Finally, it provides insights into the future development of each Web3 entry point based on their characteristics and comparison results.