With investor confidence in cryptocurrencies ebbing as a result of the collapse of Sam Bankman-Fried’s FTX exchange, the total market capitalization of digital assets has fallen this month below $800 billion, a level not seen since early 2021, according to data from TradingView. 

Once crypto survives this scandal, the overall winner will be a healthier foundation on which we can build upon, minus the excess leverage and fraudulent actors.

Crypto lender Nexo had offered BlockFi a deal worth a total of around $850 million, Nexo co-founder Antoni Trenchev said. It included $30 million for the acquisition of 51% of BlockFi through a combination of cash and equity, $30 million payable to BlockFi's existing shareholders upon successful S1 registration of BlockFi's yield product with the U.S. Securities and Exchange Commission and a $500 million credit line to address BlockFi's liquidity needs, according to the investment proposal document.

Alameda Research, the venture capital and trading firm sister of collapsed crypto exchange FTX, made $4.1 billion in loans to related parties, including $1 billion for former CEO Sam Bankman-Fried, according to bankruptcy filings made on Thursday.

Authorities in multiple jurisdictions are questioning Binance over the international crypto exchange's role in the downfall of FTX. The inquiries come on top of ongoing investigations into FTX itself by U.S. law enforcement and regulators. Binance's acknowledgment of the inquiries comes in response to criticism from UK MPs over an alleged lack of information provided to a parliamentary committee on that exact topic.

John Ray III, the new Chief Executive Officer of troubled cryptocurrency exchange, FTX, has described the running of the FTX Group under Sam Bankman-Fried, Co-Founder and former CEO, as “a complete failure of corporate controls.” Ray III also described the business environment under Bankman-Fried as "unprecedented.” 

Senators Elizabeth Warren (D-Mass.) and Dick Durbin (D-Ill.) <a href="https://www.warren.senate.gov/imo/media/doc/2022.11.16%20Letter%20to%20SBF%20&amp;%20FTX.pdf">sent a letter </a>on Wednesday to both the Bahamas-based exchange’s former CEO, Sam Bankman-Fried, and its current CEO, former Enron clean-up man John Jay Ray III, who replaced Bankman-Fried after FTX and its 130-odd subsidiaries declared bankruptcy on November 11, asking for more information about what precipitated the exchange’s collapse.

The new CEO of FTX called out Sam Bankman-Fried and the rest of the failed crypto exchange's leadership for a "complete failure of corporate controls" in a bankruptcy court filing. The filing stated: "In terms of the celebrity of Mr. Bankman-Fried, his unconventional leadership style, his incessant and disruptive tweeting since the Petition Date, and the almost complete lack of dependable corporate records, these Chapter 11 Cases are unprecedented." This is a developing story.&nbsp;

Investment firm Paradigm is still optimistic about crypto’s potential following the collapse of FTX. “The blowup of FTX has caused some to question crypto’s value. But the issues at FTX are precisely ones that decentralized finance [defi] can solve through increased transparency and security,” the firm’s co-founder emphasized.

The author of Rich Dad Poor Dad, Robert Kiyosaki,&nbsp;wrote on Twitter, “WTF: FTX largest donator to Democrats for midterms,” adding:

Former FTX CEO Sam Bankman-Fried threw his meandering “What H-A-P-P-E-N-E-D” Twitter thread into damage control Wednesday after a Vox reporter <a href="https://www.vox.com/future-perfect/23462333/sam-bankman-fried-ftx-cryptocurrency-effective-altruism-crypto-bahamas-philanthropy">published</a> Twitter direct messages of him cursing about regulators – a group he famously and publicly courted for their influence.

FTX and its officers will soon face an inquiry from the U.S. Congress.

Sam Bankman-Fried continues tweeting and commenting about what caused FTX's collapse.

'We got overconfident and careless', Sam Bankman-Fried continues tweeting

Former FTX CEO Sam Bankman-Fried made a number of eyebrow-raising statements in a <a href="https://www.vox.com/future-perfect/23462333/sam-bankman-fried-ftx-cryptocurrency-effective-altruism-crypto-bahamas-philanthropy">wide-ranging interview</a> conducted over Twitter DMs for more than an hour late Tuesday with Vox reporter Kelsey Piper. "Fuck regulators," he said when asked the exchange's lobby efforts had been mostly public relations. "They make everything worse."

The House Financial Services Committee will hold a hearing into FTX next month, the committee announced Wednesday.

Billy Markus, the founder of meme cryptocurrency Dogecoin (<a href="https://finbold.com/cryptocurrency/dogecoin/">DOGE</a>), has warned that raising money to rescue FTX will give room for Bankman-Fried to ‘commit enormous fraud again,’ he <a href="https://twitter.com/BillyM2k/status/1592764273742471172" target="_blank">said</a> in a tweet on November 16.&nbsp;

The hacker behind the FTX accounts with ten different accounts identified kept the stolen assets on the move, making multiple swaps across several protocols. Following the multiple swaps, the account currently has balances in several assets, including 74K BNB ($20M), 1.68M DAI, and 235K ETH ($209M). Its ETH balance makes it the 34th largest holder of Ethereum.

Grayscale has assured clients of the safety and security of their funds amid the panic triggered by the FTX implosion and redemption suspension of a subsidiary of one of its affiliate firms, Genesis Global Capital.

Founder and former CEO of FTX Sam Bankman-Fried is striving to raise fresh capital in a bid to make customers whole despite bankruptcy filings.&nbsp;