Top crypto tweets of the day – November 8th

1 mins read November 8, 2022

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FTX pauses withdrawal, still

[DB] Withdrawals at https://t.co/nFry343Bq0 "Effectively Paused" – CEO Sam Bankman-Fried in Telegram Message to Staff: RTRS
— db (@tier10k) November 8, 2022

[DB] Crypto Exchange FTX Saw Around $6 BLN of Net Withdrawals in 72 Hours Before Tues Morning – CEO Sam Bankman-Fried in Telegram Message to Staff: RTRS
— db (@tier10k) November 8, 2022

Is SBF the bad guy?

Think back a few weeks ago to when @cz_binance was able to invest $500M into @elonmusk’s Twitter purchase.

You know who tried to invest as well but was shot down? That’s right SBF.

Elon knew who the good guys was at a time when only very few people knew the truth about SBF
— Discover Crypto (@DiscoverCrypto) November 8, 2022

Binance saves FTX from insolvency

All but confirms that FTX is insolvent without a bailout from Binance.

Alameda was speculating with user funds. https://t.co/ziqtp9Qq48
— Dylan LeClair (@DylanLeClair) November 8, 2022

"Liquidity crunch"

I thought your deposits were backed 1:1??

Or was your "proprietary trading desk" directionally trading using user funds. We could all see the movements flooding back from Alameda wallets on-chain yesterday as reserves got depleted. pic.twitter.com/f7Y3LsYsqq
— Dylan LeClair (@DylanLeClair) November 8, 2022

CFTC is monitoring the Binance-FTX saga

[DB] U.S. Commodity Futures Trading Commission Is "Monitoring" Binance-FTX Situation – Spokesperson: RTRS
— db (@tier10k) November 8, 2022

And FTT, Crypto freefall resumes

FTT down over 50% on the day pic.twitter.com/SUEjI6eWAe
— db (@tier10k) November 8, 2022

single digits pic.twitter.com/55POiy7hyU
— db (@tier10k) November 8, 2022

SBF gave away FTX to Binance because it was going to fail

SBF gave away FTX to Binance because it was going to fail.

Now he is trying to save Alameda.

The problem is its assets, namely FTT (which Alameda can no longer print), SOL, and the rest, are not recovering (yet?)

He needs FTT to moon >$22, or CZ gets Alameda for free too. pic.twitter.com/KIe4ApcQ7f
— Jim Bianco (@biancoresearch) November 8, 2022

There could be roadblocks to Binance acquiring FTX

Anti-monopoly law may prevent Binance from acquiring FTX. The European Commission can impose turnover fines of up to 10% on larger deals if they are not approved by authorities. The U.S. CFTC also said it was monitoring the situation. CoinDesk https://t.co/ZQaoQmG7ZN
— Wu Blockchain (@WuBlockchain) November 8, 2022

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Ibiam Wayas

Ibiam Wayas has covered the crypto news beat since 2019. He studied Computer Science at National Open University of Nigeria. His work has appeared on various crypto news platforms, including Coinfomania, Crypto News Australia, and AltcoinBuzz. Drawing on his background in Computer Science, he now focuses on crypto, robotics, and longevity news.

TABLE OF CONTENT

1. FTX pauses withdrawal, still

2. Is SBF the bad guy?

3. Binance saves FTX from insolvency

4. CFTC is monitoring the Binance-FTX saga

5. And FTT, Crypto freefall resumes

6. SBF gave away FTX to Binance because it was going to fail

7. There could be roadblocks to Binance acquiring FTX

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