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Top Conversations on Crypto Twitter Last Week: The FTX quake still rumbles!

In this brand new series, we at CoinDCX want to keep you abreast of everything that has been happening on Twitter, crypto and everything in between. This past week has been in a whirlwind of activity – with one of the most recent and talked about news being crypto lending behemoth BlockFi filed for Chapter 11 under the bankruptcy code less than two weeks after the FTX crypto exchange.

The sentiment of the overall crypto twitter has been on the bearish side, primarily led by the FUD around the FTX collapse. The whole discourse on crypto Twitter was primarily led by firms disclosing their exposure to the fallen FTX exchange and its tokens, FTT. However, in the Indian perspective – things have begun to look to the brighter side. Read on to know more!

MONDAY – 21 NOVEMBER

The week began on a rather sombre note, with new developments on the FTX collapse. Towards the end of the FTX collapse fiasco, the exchange was targeted by a hacker who stole approximately $477 million worth of ETH tokens. Out of that, it sent about 180k ETH or about $200 million to at least a dozen wallets on the morning of 21 November, 2022. Definitely, not a good start to the week.

But on a positive note for more mass adoption of crypto – American investment banking giant, JP Morgan Chase filed for a trademark for a crypto wallet. This comes ahead of the news that the firm would be offering crypto services, including Bitcoin exchange services via the newly developed trademark.

TUESDAY – 22 NOVEMBER

Along the same lines – another major crypto service provider Genesis claimed that a bankruptcy could very well be on the way if more funding isn’t raised. This arrives after the platform stated its need for a $1 billion emergency fund by this week. In response to this, a user took to Twitter to post a timeline of Genesis’ statements about its FTX exposure over the past month.

Also on the same day, one of the biggest crypto data and news aggregators, CoinMarketCap announced the launch of its new ‘Exchange’s Proof of Reserves‘ tab on its platform. This would come as a boon to all crypto investors and traders to accurately and quickly verify the financial standing of crypto exchanges.

WEDNESDAY – 23 NOVEMBER

In one major development – the Demo Day program by Buidl.so x Polygon is now backed by CoinDCX Ventures. This is in line with its vision to support goal-driven Web3 and blockchain startups.

Also, according to a new research paper by Harvard – central banks should HODL Bitcoin! Crypto mainstream adoption ftw!

THURSDAY – 24 NOVEMBER

This was the day CoinDCX co-founder, Sumit Gupta took to Twitter to share CoinDCX’s proof of reserves, published in partnership with Nansen AI.

The biggest crypto exchange in India – CoinDCX garnered a lot of positive attention and appreciation for such prompt action on the user demand for publishing proof of reserves, take a look!

However, on the flip side – two Cardano based projects ceased operations on their respective crypto projects. The first was the privacy focused Orbis and the ‘all-in-one decentralized stablecoin ecosystem’ Ardana – also known as the DeFi hub of Cardano.

Funnily enough, tweets from both these projects cited similar reason behind shuttering operations – mainly pertaining to constraints in obtaining funding to continue their respective research and development.

FRIDAY – 25 NOVEMBER

On this day, we saw more details emerge about the Ethereum’s second most significant upgrade – after the Ethereum Merge that happened on 15 September, 2022. The ‘Shanghai’ upgrade is highly anticipated and several EIPs were listed and considered for inclusion, according to Ethereum core developer Tim Beiko.

Even Ethereum co-founder Vitalik Buterin took to Twitter to talk about the proposals that are being considered post the recent R&D call.

Read more: Ethereum Shanghai Upgrade

Catch the Latest Crypto News & Updates on CoinDCX Blog

SUNDAY – 27 NOVEMBER

In a side note – crypto Twitter never fails to amuse you. In the recent iteration of crypto Twitter’s version of humor, popular crypto influencer BitBoy, aka Brian Armstrong – flew out all the way to the Bahamas where FTX’s founder Sam Bankman-Fried was last spotted – in an attempt to get an audience with him. Needless to say he didn’t get it – but his journey did go viral!

MONDAY – 28 NOVEMBER

This is definitely going to be the biggest news in the past week – with BlockFi filing for voluntary cases under Chapter 11 of the US Bankruptcy Code. According to the crypto lending behemoth – their heavy exposure to the FTX crypto exchange had resulted in the formation of a liquidity crunch.

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