Daily Digest - 10 November 2022

Headlines

▌Binance: Decided to Abandon the Acquisition of FTX According to the Results of Due Diligence

Binance said in an official document that it has decided not to pursue a potential acquisition of FTX.com based on the results of the company’s due diligence, as well as recent news reports about mishandling of client funds and investigations by so-called U.S. agencies. In the beginning, Binance wanted to be able to support FTX’s clients and provide liquidity, but these issues were beyond Binance’s control or ability to help. Every time a major player in an industry fails, retail investors suffer. Over the past few years, Binance has seen the crypto ecosystem become more resilient, and Binance believes that, sooner or later, abnormal acts of misuse of user funds will be eliminated by the free market. As the regulatory framework evolves, the ecosystem will become stronger as the industry continues to move towards greater decentralization.

Cryptocurrency

▌Bitmex: No FTX Exposure, Will Continue to Launch Native Tokens

Crypto exchange Bitmex said it still plans to launch its native token BMEX on Friday. Bitmex’s head of business development and partnerships said that Bitmex is “unaffected by Alameda, FTX and FTT,” the exchange has no exposure to FTX or Alameda, and the assets are safe.

▌U.S. Charges Three With Drug Supply in the U.S. And Sanctioned Their Cryptocurrency Addresses

The U.S. Department of the Treasury’s Office of Foreign Assets Control announced the addition of Dutch citizens Alex Adrianus Martinus Peijnenburg and Martinus Pterus Henri De Koning, and British citizen Matthew Simon Grimm to the sanctions list, in addition to more than 50 more BTC, ETH, and BCH addresses. The three were charged with supplying drugs in the United States, including fentanyl, stimulants, cannabinoids, and opioids.

▌Musk: Twitter May Offer Money Market Accounts and Peer-to-Peer Payments

Musk said that Twitter may offer money market accounts and peer-to-peer payments. This will not (using Twitter) do anything in Tesla's favor.

▌The Outflow of Bitcoin From Coinbase in the Past 24 Hours Exceeded 40,000

According to coinglass data, Coinbase’s outflow of Bitcoin reached 40,309.72 BTC in the past 24 hours, making it the top crypto trading platform with the highest outflow of BTC, followed by FTX, with an outflow of 19,941.64 BTC.