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.

Check out our Dune dashboard for details → https://dune.com/lhagiimn/cyan-market-dashboard

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