FTX victims filed a lawsuit, El Salvador buys 1 Bitcoin per day, DeFi volume grew 10 times.

November 18, 2022

Crypto Market Update 18-11-2022

Good morning everyone!

⚽️ We are counting down to the start of the World Cup in Qatar. The first game is on Sunday, Qatar vs Ecuador and I wonder if any of you will be supporting one of these teams.

Now to the important stuff. We’re back with our weekly newsletter 🗞 to bring you the hottest news in crypto 🔥 — or sometimes the funniest, after all as Bum Phillips says “winning is only half of it, having fun is the other half”.

So let’s get down to business 💼:

🔴 FTX victims have filed a lawsuit

Against what could be your celebrity dream team. Tom Brady, Gisele Bundchen, Shaquille O’Neal and even Shark Tank’s Mr. Wonderful (yes Kevin O’Leary you mistook fish for shark) were all accused of having illegally promoted FTX and its products, causing serious damage to its depositors. The celebrities list also includes (more here) the NBA Champions Golden State Warriors, comedian Larry David, tennis player Naomi Osaka, and more.

🟡 El Salvador plans to buy 1 Bitcoin per day

To increase the country’s holdings. The Crypto Nation President, Nayib Bukele, yesterday announced (more here) that the country’s bag 💰 is far from full. El Salvador was the first country in the world to adopt Bitcoin as legal currency and has no plans to stop accumulating the most valuable asset in the space. (I hope they can leave some for us 😁).

🟢 DeFi transaction volume grew over 10x from 2020 to 2021

Reaching $5.8 trillion. (Yes, you read it right, Trillion 📈). According to the latest report (more here), although total transaction volume is set to fall this year given the bear market, DeFi has driven nearly $3.7 trillion in transaction volume in 2022 — more than half of all on-chain volume.

Data taken from the blockchain continues to be impressive 👀, showing an ever-increasing adoption of the technology, which, as several times reported (more here), is growing at twice the rate of the internet.

As usual, positive news to open the weekend!

Take care you all, we’ll talk next week🍻


Great job on learning something new today 🎉