Headlines
▌SBF Was Summoned to Attend the Hearing of the US Texas Regulator on February 2 Next Year
The Texas Securities Board (TSSB) believed that FTXUS violated the securities law and summoned SBF to participate in the hearing on February 2 next year. It is reported that the TSSB believes that FTXUS provides unregistered securities products through its revenue service, and has sent a registered letter to SBF's address in the Bahamas to notify the hearing of the news and suggest that the proceedings can be conducted through Zoom.
Cryptocurrency
▌Lawyer: BlockFi Is Most Likely to Pay the SEC First
Sasha Hodder, founder of HodderLaw, which focuses on encryption law, said on Tuesday that the US Securities and Exchange Commission (SEC) is likely to be the first to get paid in the lineup of creditors owed by BlockFi. In February, BlockFi reached a $50 million settlement with the SEC for failing to register the offering of its crypto loan product. It also agreed to pay an additional $50 million to states that filed similar charges. BlockFi has approximately $30 million in unpaid SEC fines.
▌BlockFi's $355 Million Worth of Cryptocurrency Is Frozen in FTX
Kirkland & Ellis partner lawyer Joshua Sussberg said in a bankruptcy court in New Jersey on Tuesday that BlockFi currently freezes about $355 million in cryptocurrencies in FTX. That amount does not include a $671 million loan to Alameda Research. Sussberg said that BlockFi does want to allow customers who have assets in the BlockFi Wallet to withdraw funds. Sussberg told Judge Michael Kaplan that he expected the process of recovering BlockFi’s funds from FTX to take “a very long time.”
▌Data: The Wealth of the Top Five Crypto Tycoons Has Shrunk by US$112.7 Billion
According to data provided by cryptoresales, the world’s top 5 crypto tycoons have lost a total of about US$112.7 billion in wealth this year. CZ's net assets were approximately US$96.5 billion a year ago, and his current net assets are US$14.6 billion, with a loss of more than US$82 billion, exceeding the sum of the decline in wealth of Mark Zuckerberg and Bill Gates. The wealth of FTX co-founders SBF and Gary Wang has shrunk by nearly $25 billion. Coinbase CEO Brian Armstrong's fortune has dropped by $4.7 billion. Ripple co-founder Chris Larsen's fortune will shrink by $1.3 billion in 2022.
▌OpenSea Announced That It Has Officially Launched on BNBChain
OpenSea Non-Fungible Token (NFT) Marketplace has announced the integration of BNB Chain NFTs, with buying and selling set to begin before the year’s end. The new connection unites the largest blockchain by active users and wallets with the largest NFT marketplace by volume. A press release shared with BSC News confirmed that BNB Chain NFTs will launch on OpenSea's Seaport Protocol in Q4 2022. The integration will surely bring more users to OpenSea from the BNB Chain NFT community, with many projects likely vying for the treasured place to be listed on the massive marketplace. BNB Chain’s blockchain technology will also give OpenSea users access to the quick and affordable trading ability available through the popular blockchain.
▌Online News Site CoinDesk Attracts Suitors Amid Crypto Crash
CoinDesk, the online news site whose story on cracks in Sam Bankman-Fried’s crypto empire sparked an industry-wide meltdown, has attracted takeover interest as its owner tries to reassure investors, people familiar with the matter said. One of the approaches suggested a $300 million purchase price but it was considered too low, some of the people said.