gm - November 16th, 2022

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Genesis Global Trading has just announced they are temporarily halting redemptions and new loan originations given the market turmoil. Crypto Twitter (CT) is already abuzz with rumors and speculation on the solvency of the firm. This affects Gemini’s earn program, and the exchange is slowly unwinding users out of the yield deposit service and working to redeem their funds. Ethereum is back down, -4.2% in 24hrs to $1220, while Bitcoin is at $16600, a -2% move on the day. South Korean prosecutors have raided Terra co-founder’s company in their ongoing UST case, as it suspects the company leaked customer data to Terraform Labs.

NFT volumes spike to about $18M, with ETH-NFTs at $16M and Solana-NFTs at $1.5M. Bored Apes take the top spot with a whopping $5.7M in volume as the floor price rips back up to 60 ETH after having flirted below 50 ETH just 24hrs ago. Mutant Apes follow close behind with $2.3M in volume as its floor price rises to 11.5 ETH from 10 ETH yesterday. Otherdeed is also in the ranks with $1M in turnover across 473 trades — Yuga announced a partnership with WAGMI-san of RTFKT fame for the Otherside.

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NFT headlines:

Sony Files Patent for Tracking In-Game Digital Assets With NFTs

Cristiano Ronaldo Launches NFT Collection With Binance Crypto Exchange

Coachella NFTs Trapped in FTX Crypto Fallout

NFT-Linked Sandals Worn by Steve Jobs Sell for $218,000

NFT platform, art collective launch collaboration in aid of Ukraine

Manchester United launch official NFT digital collectibles with Tezos