The Last 168 Hours in DeFi

SBF Indicted on Federal Criminal Charges

ALPHA:

I am part of two upcoming NFT projects on Canto this week. The first is public and I have shared it on my Twitter profile. The second is stealth, but very exciting. Stay tuned!

Happy Rabbit ($RAB) Meme Token NFT Launch:

Happy Rabbit @HappyRabbitCoin

For the launch of our NFT collection which takes place on 15/12/22. [ Mint price : 25 $NOTE ] We are giving away 2 rabbits (50$) to the community! To be eligible : - Like and tag 2 #canto degen🍈 - Retweet🔁 - Fill this form : forms.gle/mRCxpY7gddkf2z…

MARKET:

The Federal Reserve raised rates 50 bps after inflation printed lower than expectations. This is the first time the Fed has decreased rate raises all year. However, the expectation for Terminal Rate now exceeds 5% and continues to rise, meaning growth expectations must be tempered in 2023-25.

The $DXY broke its parabolic uptrend in late October and has continued to fall as inflation abates. In simpler terms, investors are starting to sell dollars to riskier assets slowly.

$BTC is trading in a range between $15,500-$18,100 and will likely continue to chop as we search for a bottom in the following months.

SBF IN JAIL:

Gurbaksh Singh Chahal @gchahal

A still image of Sam Bankman-Fried @SBF_FTX of @FTX_Official being escorted out of the Magistrate Court building in handcuffs after being criminally charged by US prosecutors in Nassau, Commonwealth of the Bahamas.

db @tier10k

[DB] SBF Charged With Wire Fraud, Wire Fraud Conspiracy, Securities Fraud, Securities Fraud Conspiracy and Money Laundering: NYT

db @tier10k

[DB] SEC Charges Samuel Bankman-Fried With Defrauding Investors in Crypto Asset Trading Platform FTX

US Attorney SDNY @SDNYnews

USA Damian Williams: Earlier this evening, Bahamian authorities arrested Samuel Bankman-Fried at the request of the U.S. Government, based on a sealed indictment filed by the SDNY. We expect to move to unseal the indictment in the morning and will have more to say at that time.

And campaign finance violations:

the veFI torpedo @hiphoptorpedo

CNBC: FTX founder Sam Bankman-Fried charged with campaign finance violations in criminal indictment.

cnbc.comSam Bankman-Fried diverted FTX customer funds to donate to political campaigns, authorities chargeFTX founder Sam Bankman-Fried is accused of using his crypto hedge fund Alameda Research as a “personal piggy bank” to make illegal political contributions.

No bail because SBF is a flight risk:

db @tier10k

[DB] SBF Denied Bail

SBF not going down without a fight:

db @tier10k

[DB] SBF Says He Is Not Waiving His Right to an Extraction Hearing: Nassau Guardian

FTX Contagion:

The Block @TheBlock__

Amber Group’s planned raise halved as it cuts 40% of jobs: Reports theblock.co/post/193529/am…

NEWS:

Blockworks @Blockworks_

JUST IN: PayPal will integrate its crypto services with MetaMask Wallet

REGULATORY:

Jerry Brito @jerrybrito

The bipartisan Digital Asset Anti-Money Laundering Act, introduced today by Sens. Warren and Marshall, is the most direct attack on the personal freedom and privacy of cryptocurrency users and developers we’ve yet seen. We explain here:

coincenter.orgThe Digital Asset Anti-Money Laundering Act is an opportunistic, unconstitutional assault on cryptocurrency self custody, developers, and n…Nothing about the bill would prevent the next FTX. In fact, it puts users at more risk.

RUGS:

BowTiedPickle.eth | Solidity Shipper @BowTiedPickle

@LodestarFinance on Arbitrum has just been exploited 🚨 The situation is still developing and post-mortem is still ongoing, but it looks like the entire protocol has been drained so far. That would represent a $6.9M loss.

The Block @TheBlock__

FTX stored private keys without encryption, the exchange’s new chief said theblock.co/post/194706/ft…

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