gm - November 8th, 2022

gm 👋

Crypto has a pullback as the drama continues with CZ vs. SBF. On one hand, you have CZ trying to spread fear about FTX as it benefits Binance, but on the other hand, he is not wrong about questioning the solvency of Alameda and trying at calling their bluff on FTT tokens (FTX exchange tokens). If Alameda is indeed just playing the mark-to-market game, which their scrambling of various token holdings like Bitdao may suggest, then it remains to be seen how liquid the hedge fund is and if this might be another Three Arrows Capital moment. FTT is down 24% to $16.95, below the $22 price Alameda bid CZ for his stack. Bitcoin is back below $20k to $19.7k on $56B of volume, while Ethereum is below $1500 to $1479 on $17B of volume, both down 5% in 24hrs.

NFT volumes are around $16–7M today, with ETH-NFTs at $13M, Solana-NFTs at $3M, and ImmutableX at $1M. BAYC takes the top spot as over 1000 ETH trade ($2.3M) for the first time in a while for the collection — perhaps there is some insider information we plebs are not privy too. Art Blocks comes in second driven by Fidenza with $1.1M in volume. Gods Unchained prints $1M to keep ImmutableX relevant.

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NFT headlines:

Bank of Korea Tested NFT Trading, Remittances With CBDC: Report

Italian high performance carmaker Lamborghini is now in the NFT market

Luxury watchmaker Rolex enters metaverse with crypto and NFT trademark applications

From NFL to NFTs, Tim Tebow Gets Into the College Game With Solana-Based Platform

Line launches NFT marketplace on its platform DOSI

Buy an NFT, Get Maine Lobster Shipped to Your Door

Teachers Net $111,000 from Animoca Brands’ TinyTap Publisher NFTs

Magic Eden CEO: Royalties-Enforcing NFTs Could Be ‘New Asset Class’