SBF had his first public interview after FTX collapse; Telegram to build crypto exchange; Brazilian congress passes crypto bill; Binance acquires Japanese crypto exchange Sakura; understanding key risks associated with stablecoins.

LedgerX, one of the few solvent pieces of Sam Bankman-Fried’s crumbled FTX empire, is for sale and attracting interest from would-be buyers including crypto giants Blockchain.com and Gemini, according to people familiar with the matter.

With Exia Digital Assets this week joining FTX Japan under suspension orders by the Financial Services Agency, 31 regulated cryptocurrency exchanges remain operational in Japan.

Tether co-founder Reeve Collins said he and other cryptocurrency industry members were shocked by the collapse of FTX.

This was not the behavior of a cynic. It was the behavior of a true believer, even if all he believed in was that the crypto bubble would never really burst.

In Dec. 2 posts on Twitter, House Financial Services Committee chair Maxine Waters, a Democrat, and ranking member Patrick McHenry, a Republican, <a href="https://twitter.com/RepMaxineWaters/status/1598693811252875264" target="_blank">requested</a> SBF speak at a hearing aimed at investigating the events around the collapse of FTX. It’s unclear if the U.S. lawmakers intended the former FTX CEO to appear in person or remotely from the Bahamas.

FTX and Alameda <a href="https://ambcrypto.com/heres-the-good-news-in-a-post-ftx-collapse-world/" target="_blank">breakdown</a> controversies continue to hit the spotlight in the cryptosphere. The latest revelation gives insight into Alameda’s investments. According to a <a href="https://www.bloomberg.com/news/articles/2022-12-02/alameda-bet-big-on-crypto-miner-genesis-digital-before-sector-implosion?utm_campaign=socialflow-organic&amp;utm_medium=social&amp;utm_source=twitter&amp;utm_content=crypto&amp;leadSource=uverify%20wall" target="_blank">report</a> by Bloomberg, FTX’s venture arm had high hopes for <a href="https://ambcrypto.com/will-bitcoin-mining-expansion-help-btc-recover-this-month/" target="_blank">Bitcoin mining</a> as it invested as much as $1.15 billion in Genesis Digital Assets in four funding rounds.

The chairman of the Commodity Futures Trading Commission (CFTC) has revealed that he and his team met with Sam Bankman-Fried and other FTX executives 10 times before the crypto exchange filed for bankruptcy. The regulator sees the FTX collapse as “a classic run based on liquidity crunch.”

House Financial Services Chair Maxine Waters today thanked disgraced FTX founder Sam Bankman-Fried for being “candid” when talking about the bankrupt exchange.&nbsp;

Japanese users of failed crypto exchange FTX might soon be able to withdraw their funds as the Japanese subsidiary&nbsp;<a href="https://help-jp.ftx.com/hc/ja/articles/13054195917593-%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E5%BE%A9%E6%97%A7%E3%81%AB%E5%90%91%E3%81%91%E3%81%9F%E5%8F%96%E7%B5%84%E3%81%BF%E3%81%AB%E3%81%A4%E3%81%84%E3%81%A6">said</a> it is working to make funds available to their customers.

The founders of Three Arrows Capital, or 3AC, the Singapore-based crypto hedge fund with close ties to Terra Labs, have been spending more time engaging on social media and news outlets than dealing with its own liquidation, according to bankruptcy lawyers.

On Dec. 1, 2022, an attorney for the U.S. Trustee submitted a written letter to Delaware bankruptcy court officials that seeks to establish an independent examiner to investigate the FTX Chapter 11 bankruptcy proceedings. The U.S. Trustee explained in the letter that FTX’s collapse was comparable to complex bankruptcy cases like Lehman’s, Washington Mutual Bank’s, and New Century Financial’s. Moreover, while the U.S. Trustee submitted a filing that requested a third-party examiner, former FTX CEO Sam Bankman-Fried has continued to appear in numerous interviews with the media.

The Japanese arm of the troubled cryptocurrency exchange FTX is set to resume customer withdrawals after scoring important clarifications with Japan’s Financial Services Authority.

One is certain, this whole story will teach investors how important qualitative fundamental analysis is, and that quantitative is just a part of the whole picture, but it will also influence future crypto regulations since such stories create future standards.

In the <a href="https://www.goodmorningamerica.com/news/video/ftx-founder-sam-bankman-fried-denies-improper-customer-94268098" target="_blank">interview</a>, SBF was insistent that FTX was not a “Ponzi scheme” but was “a real business.” The former CEO also denied any knowledge of FTX customer deposits being used to pay Alameda Research’s creditors, as reportedly claimed by Alameda’s CEO Caroline Ellison. According to him, he had no knowledge of “any improper use of customer funds”.&nbsp;

Sam Bankman-Fried is doubling down on his claim that FTX US should never have filed for bankruptcy.&nbsp;

Sam Bankman-Fried claimed that he didn't spend time doing any risk management at FTX in yet another interview following the exchange's collapse.

Just over five years ago, Bitcoin.com News <a href="https://news.bitcoin.com/minimalist-family-sells-everything-for-bitcoin-hoping-it-pays-off/">reported</a> on the Taihuttu family after they decided to sell their home, children’s toys, and vehicles so they can accumulate bitcoin (<a href="https://markets.bitcoin.com/crypto/BTC" target="_blank">BTC</a>). On Wednesday, the patriarch of the family, Didi Taihuttu, <a href="https://www.cnbc.com/2022/11/30/bitcoin-family-moving-more-than-1-million-into-dexs-after-ftx-collapse.html">spoke</a> with CNBC and explained that the family is moving $1 million in crypto assets to dex protocols following the FTX collapse.

Solana has been on a downtrend since the collapse of FTX, as investors have been selling their&nbsp;<a href="https://cryptoslate.com/coins/solana/">SOL</a>&nbsp;holdings due to its connection with the Sam Bankman-Fried crypto empire.

The regulatory legislation supported by embattled former FTX CEO Sam Bankman-Fried will be back in the spotlight during the first congressional hearing on FTX’s collapse.