Week 45 | 11/7/22 - 11/12/22
By Matthew BrienenNews Flash
Monday 11.7.22: OpenSea shared its plans regarding NFT creator royalties, amid a growing trend of rival marketplaces not honoring them. In an accompanying blog post, OpenSea co-founder and CEO Devin Finzer detailed the firm’s history of honoring NFT royalties—typically a 5% to 10% fee set by the creator, which is paid by the seller on any secondary market sale. These royalty expectations are not fully enforceable on-chain, however the largest marketplaces (including OpenSea) have typically honored them.
Tuesday 11.8.22: Binance CEO Changpeng Zhao (CZ) isn’t interested in selling his company’s FTX Tokens in an OTC deal with Alameda. “I think we will stay in the free market,” he said on Twitter on Monday while responding to a question about Alameda’s potential involvement.
Wednesday 11.9.22: Binance withdraws their LOI for acquiring FTX in full stating mishandling of customer funds & a massive hole in the FTX balance sheet.
Thursday 11.10.22: FTX CEO Sam Bankman-Fried said on Twitter Thursday morning he is winding down trading at Alameda Research while he and his team are "doing everything we can to raise liquidity" for the exchange. "Every penny of that—and of the existing collateral—will go straight to the users, unless or until we've done right by them," he wrote. "After that, investors—old and new—and employees who have fought for what's right for their career, and who weren't responsible for any of the f**k ups."
CryptoCharged Live Show Recaps
Monday 11.7.22: Matt discusses the SEC subpoenaing influencers for promoting the Pulsechain ecosystem. Sam Bankman-Fried responds to FTX insolvency rumors, and LBRY loses summary judgment. We closed out the show with some technical analysis of the markets and discusses a theory involving the FTX native token.
Tuesday 11.8.22: The team talks about Binance CEO rejecting Alameda's bid to buy his company's FTX tokens, Sam Bankman-Fried potentially implying FTX was insolvent, and growing numb to the crypto space. A nice chance in pace with some bullish outlooks, Matt examined comparison chart to show what CSPR could do this cycle.
Wednesday 11.9.22: Brienen discusses Elon Musk filing to launch experiments with verification, Binance declining to pursue FTX acquisition, and Gary Gensler allegedly meeting with Sam Bankman-Fried. Brian Decker shares crucial advice for investors in this bear market. Dan Habib provides a technical analysis of the markets, and Matthew shares a few altcoins with more room to move.
Thursday 11.10.22: Dan Habib describes the Consumer Price Index for October 2022, lodging away from home, and when inflation will peak. Matthew Brienen discusses Sam Bankman-Fried’s apology, Tron's Justin Sun announces plans to restore "normalcy for all FTX users," and the SEC's net negative. Matthew offers a precise analysis of the markets and demonstrates how the crypto market is experiencing numerous relief rallies.
