CoinTelegraph

FTX and Alameda’s Ponzi-like trading scheme has dealt a heavy blow to the entire crypto industry. Here are three developments to keep a close eye on.

The development comes less than 24 hours after the platform issued an advisory urging its users to close down trading positions

Sam Bankman-Fried no longer qualifies for a listing on the Bloomberg Billionaires Index, while Elon Musk’s reported net worth has dropped by more than $86 billion in recent days.

The crypto market managed an 11% bounce from the Nov. 9 low, but a handful of metrics show a severe lack of investor confidence.

The DeFi market faced the heat of the FTX turmoil as well with the majority of tokens and projects registering a blood bath over the past week.

Cointelegraph is a member of the network of organizations committed to using blockchain technology for climate action.

Bitcoin, altcoins and crypto-linked stocks correct sharply after FTX officially files for bankruptcy with BTC price slipping below its June lows again.

The collapse of Sam Bankman-Fried’s crypto empire is likely to have repercussions beyond the crypto markets, according to Mike McGlone, senior commodity strategist at Bloomberg.

FTX Europe was one of roughly 130 companies in FTX Group which will be a part of bankruptcy proceedings in the United States.

After lecturing us about crypto regulation, Sam Bankman-Fried’s house of cards collapsed this week as FTX declared bankruptcy.

The emerging longevity sector is attracting many crypto natives, who can both benefit from it and contribute to it with blockchain tools.

FTX CEO Sam Bankman-Fried has resigned his position, and will be succeeded by John Ray.

From buying Bahamas-based NFTs to offering bounties to FTX employees, users with balances stuck in FTX are trying whatever they can to withdraw their money.

Zane Tackett suggests alternatives to “boomer procedures” when it comes to FTX bankruptcy.

The collapse of FTX came as a surprise to many, but as more information pours in, it seems FTX’s liquidity crisis began sooner than many thought.

A bearish technical setup and a declining number of Ether whales pose downside risks for ETH’s price.

Sandeep Nailwal, the co-founder of Polygon, encouraged Solana community members to keep on building.

A Bitcoin whale has moved 3,500 BTC to new wallets for the first time since 2011, changing the address format from P2PKH to P2SH.

ETH price plummeted to a 4-month low at $1,070 after a wave of futures liquidations.

Deepak.eth, the founder of the blockchain infrastructure Chain, listed their NFT collection for sale on OpenSea starting at 8,000 ETH.

A joint effort is aimed at assessing the possible use of wholesale central bank digital currencies in cross-border transactions.

Unrealized losses are hitting both long-term and short-term holders this week, with half of the supply underwater in wallets.

A rumor suggesting that FTX CEO Sam Bankman-Fried has been arrested is circulating on social media.

The California DFPI announced it will open up an investigation as to the “apparent failure” of FTX and says it takes this oversight very seriously.

The two U.S. Senators said the downfall of FTX clearly exemplified “the need for greater federal oversight of the digital asset industry.”

FTX won’t be getting a bailout from Tether who confirmed it isn’t planning to provide a cash injection despite the CEO reportedly reaching out to multiple firms for help.

Nearly all major stablecoins lost their dollar pegs amid the FTX saga, but most have recovered again as markets stabilize.

The JST token in particular is trading for a premium of around 1,200%, while BTT and TRX have inflated at least 500% apiece.

Ark Investments topped up its Coinbase stock shortly after FTX’s liquidity issues were revealed, which came after Coinbase stated that it had “minimal exposure” to the troubled trading platform.

“We intend to communicate as frequently as possible […] but anticipate that this will be less frequent than what our clients and other stakeholders are used to.”