The Digital Assets Report 94

The Digital Assets Report 94
Photo by Jonathan Borba / Unsplash


  • The FTX domino continues with markets scrambling due to the fall of FTX platform from $32 billion to 0 in few days.
  • In the latter hours of Friday evening, FTX founder Sam Bankman-Fried secretly moved $10 billion in funds to Alameda trading firm via software "backdoor."
  • FTX's remaining funds were drained of more than $447 million worth of cryptocurrency, much of which appears to have been stolen.
  • Strange relationships between Alameda research CEO,
  • BlockFi halts withdrawals last Friday amid FTX crisis.
  • increased their reserve transparency and highlight 20% of their balance sheet in the meme coin Shiba Inu , CRO token is plunging, clients are withdrawing massively.
  • "accidentally sent $400M" in Ethereum to wrong address (85% of their reserves), another story last summer with $10.5M sent mistakenly, audit detected the issue only 6 months later.  
  • Binance, OKX, Bitfinex, Kucoin, Bybit and much more are promising transparency to boost user confidence but no one published their liabilities. It seems that multiple exchanges have moved (or borrowed) very important amounts in order to pass the "audits".
  • Crypto exchange outflows hit historic highs as Bitcoin investors self-custody.
  • 6 months ago, FTX CEO was claiming some crypto exchanges already secretly insolvent without any precision that FTX was one of them .
June 28, 2022 on Forbes Digital Assets
FTX Bankrupt, Hacked, Investigated: A Timeline of Events
A rundown of major FTX events since Binance pulled out of its proposed buyout deal, leading to Bankman-Fried’s exchange going bankrupt
Funding rounds revealed blue chips VC while none of them sitting at the FTX board
BlockFi says it can no longer operate its business as usual in the wake of FTX collapse
Client withdrawals from the crypto lender have been paused. Holds 20% of Its Reserves in Meme Token SHIB - Decrypt
Amid questions over holdings, shares its data—and a major meme token makes up a big chunk of its reserves. accidentally sends 320k ETH to, recovers funds days after
Marszalek confirmed that returned the funds to’s cold storage and reassured the investors that new processes and features were implemented to prevent a reoccurrence.
Jump Crypto says it remains ‘well capitalized’ following FTX downfall
Jump Trading’s crypto arm weighed in on the FTX crisis and its impact on Jump Crypto.
Binance Starts Recovery Fund for Crypto Projects Facing Liquidity Crisis
Tron founder Justin Sun said that Tron, Huobi Global and Poloniex will support Binance in its initiative.
Amid FTX collapse, crypto funds see largest inflows in 14 weeks
Are investors quietly buying the Bitcoin dip? According to the latest CoinShares data, it’s a distinct possibility.


Crypto Charts 87
Bitcoin As mentioned last week: A break below $20′045 and the bottom of the channel will confirm that new lows are expected in the weeks ahead and place stops above the wave (iv) high The fallout from the FTX bankruptcy saw crypto sell off sharply. It is possible that we
Exchange outflows hit historic highs as Bitcoin investors self-custody.


Let’s Actually Commit to Proofs of Reserve This Time, Okay?
Requiring exchanges to show they have assets to match their liabilities would improve transparency and help to win back public trust in crypto, says Nic Carter.

Podcast / Readings