This week in crypto, among the many FTX-related news: Sam Bankman-Fried was trying to raise new capital in an effort to get FTX-owned Liquid to suspend withdrawals, BlockFi continued to suspend withdrawals, but then caught up with with Genesis and Gemini, and Ikigai admitted that it owns "the vast majority" of its assets in FTX. The suspension of Genesis services halted the Gopax exchange, and Tether said it had no exposure to Genesis Global and Gemini Earn. Charles Hoskinson said more damage would come from the FTX contagion, and Citi analyst Joseph Ayoub warned of serious contagion risks from the FTX implosion.
Visa then ended the FTX partnership, as did TSM and many others. Some coins rallied during the FTX crypto crash, and while Berkshire Hathaway VP Charlie Munger condemned crypto, Michael Saylor said Bitcoin would come out on top after FTX crashed, Pantera Capital argued Bitcoin will catch up. the €150,000 in the first half of 2025, and Brad Garlinghouse said that the current crisis will make crypto stronger. Meanwhile, AAX suspended withdrawals for up to 10 days due to a "planned system upgrade."
While this was going on, Tom Brady and Larry David were facing a class action lawsuit for endorsing FTX, the Bahamian police launched an investigation into FTX, the Japanese government vowed to do everything possible to protect FTX Japan customers, and an official The government said FTX's collapse would not prevent Hong Kong from becoming a virtual asset hub. We investigated whether SEC Chairman Gary Gensler helped Sam Bankman-Fried find loopholes for FTX, while US Treasury Secretary Janet Yellen said crypto markets needed "more effective oversight" and that the US House of Representatives Committee on Financial Services planned to investigate the collapse of FTX. . Additionally, Terra's audit showed that 80 BTC worth $000 billion was used to defend the UST peg.
We then learned that MasterCard, Citigroup and other global banking giants had launched a digital dollar pilot program with the New York Federal Reserve. PlayStation can use NFTs as in-game assets, and Cristiano Ronaldo has launched his NFT collection on Binance. In South Korea, a stablecoin scammer in his 60s was jailed for six years, police were investigating a crypto mining company that allegedly failed to refund investors, and the financial regulator said it wanted to introduce audit guidelines for crypto. . -Related companies.
Now we are going to laugh at some carefully selected jokes.