Daily Digest - 7 November 2022

Headlines

▌CZ: Liquidating FTT Is a Lesson From LUNA

Changpeng Zhao, CEO of Binance, said on social media, “The liquidation of FTT is only a risk management for later withdrawal, and it has also learned the lessons of LUNA before. Binance has supported it before, but it will not pretend to love each other after divorce. We do not oppose anyone, but will not support those who are lobbying behind their backs against other industry players." Zhao added that this was not a war or battle, Binance just "swept the house" and moved on.

Blockchain Application

▌Vietnamese Blockchain Companies Urge Blockchain Training for Students and IT Experts

Vietnamese blockchain industry players emphasized the growing demand for blockchain talents in Vietnam, calling on the government and educational institutions to pay more attention to the talent shortage. As the scarcity of talent in the blockchain space is a global challenge, the country needs to address the lack of training, they said.

Cryptocurrency

▌CZ: Will Sell All FTT on the Account, and Withdraw From FTX Equity Last Year to Obtain $2.1 Billion in Funds

Binance founder Changpeng Zhao (CZ) tweeted that Binance received roughly $2.1 billion in cash (BUSD and FTT) as part of Binance’s exit from FTX last year. Due to the recent revelations, we have decided to liquidate any remaining FTT on our books. He also said it will try to do so in a way that minimizes market impact. This is expected to take several months to complete due to market conditions and limited liquidity. Changpeng Zhao also said that this did not appear to be a move against a competitor. “Our industry is in its infancy, and every public failure of a project hurts every user and every platform. We typically hold tokens for the long term. We have held FTT for so long, and we are transparent about our actions.” The co-CEO of Alameda Research responded to the online financial documents, only showing some assets, and most of the loans have been repaid.

▌SBF: FTX Maintains Financial Audit and Has Processed Billions of Dollars in Deposits and Withdrawals Today

FTX founder Sam Bankman-Fried (SBF) tweeted, "A bunch of unfounded rumors have been circulating, FTX retains audited financials, although it sometimes slows down on the product, but leaves FTX highly regulated. FTX has processed billions of dollars in deposits/withdrawals today, and there is a lot of dollar-to-stablecoin exchange going on.”

▌Alameda Co-CEO Responded to CZ: Willing to Buy the FTT That CZ Plans to Sell at $22

Alameda Research Co-CEO Caroline Ellison tweeted in response to Changpeng Zhao (CZ) saying that, “If you want to minimize the market impact on your FTT sales, Alameda would be happy to buy it from you today for $22.” Previously, Changpeng Zhao said that he would sell all FTT in the account.

▌Huobi Global Released a Statement on the Truth About the GALA Incident: pNetwork Will Be Held Accountable for All Responsibilities and Compensation

Justin Sun released Huobi Global's truth statement about the GALA incident: pNetwork's malicious use of management authority to issue more than 55.6 billion GALA tokens on the BNB Chain is not a white hat, but a premeditated hacking attack with malicious profit as the ultimate goal. White hat is an illegal excuse it seeks to avoid legal sanctions. Huobi will, on behalf of the industry and users, pursue all responsibilities and compensation in accordance with the law.

▌Musk: Any Future Impersonation of Twitter Accounts Without a Clear Description Of "Imitation" Will Be Permanently Disabled

Elon Musk, who just bought Twitter, said on social media that any impersonation of Twitter accounts in the future without a clear statement of "imitation" will be permanently suspended. While Twitter previously issued warnings before suspensions, now that it is rolling out “widespread verification, there will be no warning.” Any name change will also result in a temporary loss of the verified Blue Label certification mark.

▌Meta Is Preparing to Start Mass Layoffs This Week

Meta plans to start mass layoffs this week, according to people familiar with the matter, in what could be the largest round of layoffs in a recent string of layoffs at tech companies. The layoffs are expected to affect thousands of employees, and an announcement is planned as soon as Wednesday, the people said. The company has told employees to cancel non-essential travel starting this week, the people said. Meta reported more than 87,000 employees as of the end of September.