FTX Assets Priced at 2022 Bankruptcy Date

📉 FTX's Detailed Recovery Strategy

FTX's Bankruptcy Filing: FTX, led by Sam Bankman-Fried, faced a severe financial crisis, leading to its bankruptcy filing. The December 2023 reorganization plan is a strategic move to address these challenges.

Plan Aims at Creditor Prioritization: The plan outlines a method for prioritizing creditor and customer claims, with valuations based on asset prices at the bankruptcy filing time. It reflects FTX's effort to manage its financial turmoil.

Court Approval and Creditor Views: Subject to court approval, the plan may encounter opposition from creditor groups. It represents a key step in FTX's path towards recovery and stability. Read More.

️ On today's Top Picks:

  1. ⚖️ Coinbase files lawsuit against the SEC.
  2. 🪂 EigenLayer increasing restaking caps today.
  3. 🕊️ EU Commission investigating X & threatens sanctions.
  4. 🖼️ NFT Trader & Flooring Protocol exploited for ~$4M+ worth of NFTs.

Read time: ⏰ 8 minutes


Crypto News


• ⭐️ Coinbase files lawsuit against the SEC after it denied their petition request for transparent crypto rules & regulations.

• ⭐️ Fairshake Super PAC raises $78M to support pro-cryptocurrency US candidates.

Arbitrum sequencer back online after temporary outage due to flood of inscriptions.

Argent advises ArgentX wallet users to update to V5.11 before Thursday to avoid any problems any problems after Starknet feeder gateway deprecates.

Circle launches $EURC stablecoin on Solana.

Zilliqa block production interrupted due to technical issue as team works to resolve.

Arweave founder criticizes Irys for planning to fork the protocol while Irys defends their approach.

Alpha


• ⭐️ EigenLayer increasing restaking caps today.

Namada Shielded Expedition registration is open.

Linea DeFi Voyage on Intract ending in two days.

Pheasant Network launches Christmas Carnival campaign on TaskOn.

Red Bull Formula 1 team releases free Champions Collection NFTs on Sui.

Airdrops


Avail & EigenDA airdrop strategy by Olimpio.

Last week in airdrop by Earndrop.

Xai teases airdrop in tweet stating, "ai_ dr_p soon."

AsMatch airdrops 10M $ASM to 33K addresses.

30+ Projects with point systems by Alpha Drops.

Thetanuts Finance airdrop strategy by Airdrop Official.

Finance News


Americans rack up $1 Trillion in credit card debt.

• ⭐️ EU Commission investigating X & threatens sanctions due to comply with censorship request.

Netflix $NFLX resumes advertising on X after temporary boycott.

BlackRock $BLK investing $400M in Positive Zero, a Dubai-based decarbonisation company.

Citigroup $C plans to set up securities business in China delayed due to data laws.

Nvidia $NVDA launching RTX 4090D on Dec 28th in China to circumvent US export restrictions.

Apple $AAPL suspending Apple Watch Series 9 & Ultra 2 sales amid patent dispute.

Adobe $ADBE & Figma terminate planned $20B merger due to regulatory hurdles.

Southwest $LUV fined $140M due to 2022 holiday meltdown.

Security and Exploits


• ⭐️ NFT Trader exploited for ~$3M worth of NFTs after malicious code execution from a third party.

Flooring Protocol exploited for ~$1.5M worth of NFTs due to vulnerability in their peripheral/multi-call contract.

SlowMist weekly security report highlights ~$8M in estimated losses.

CertiK's website featured a link to a fake CertiK Discord server which contained a fake Collab Land bot that could drain wallet assets.

DefiLlama community member X account was hacked and posted malicious links that falsely claimed DefiLlama contracts were vulnerable.

Token Unlocks


• Nym / 3.34M $NYM / ~$583K / DEC 19
• Euler / 123.34K $EUL / ~$386K / DEC 20
• Space ID / 18.49M $ID / ~$4.97M / DEC 21
• Acala / 4.66M $ACA / ~$340M / DEC 24


Funding


MapleStory Universe, a virtual world ecosystem; raises $100M in funding.

Tap Protocol, an OrdFi enabling protocol for Bitcoin Ordinals; raises $4.2M in funding led by Sora Ventures.

Aki Network, a Web3 influencer network; raises an undisclosed amount in Series A funding.

GoDID, a DID marketplace aggregator; raises an undisclosed amount in funding led by NGC Ventures.

MetaFight, a fighting metaverse platform, raises an undisclosed amount in strategic investment from Animoca Brands.

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PROTOCOLASSETSAPY
Curve DEX logoCurve DEX (Ethereum)IDAIIUSDCIUSDT113.03%
Solv Funds logoSolv Funds (Arbitrum)USDT81.71%
Beefy logoBeefy (Arbitrum)MIMARBUSDCEUSDT41.98%
Abracadabra logoAbracadabra (Arbitrum)MIMUSDCUSDT41.45%
Aura logoAura (Arbitrum)DOLAUSDC32.24%
PancakeSwap AMM V3 logoPancakeSwap AMM V3 (Ethereum)USDCUSDT29.39%
Merkl logoMerkl (Arbitrum)STEURUSDC28.54%
Vela Exchange logoVela Exchange (Arbitrum)USDC22.57%
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. . .

That’s it for today’s edition! See you soon.

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