FTX lawyers not light on SBF, Elon enters the FTX discussion Metaverse to the moon

November 25, 2022

Crypto Market Update 25-11-2022

Friday is the day to bring our community the hottest news in crypto šŸ”„

Also, if your team is in the World Cup, I hope they are having good results āš½ļø Tell us where youā€™re from so we can follow the games together in our community !

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Now to business šŸ’¼ šŸ’µ

This week continued to focus on the aftermath of the FTX debacle and the fall of one of the most charismatic figures in crypto scene until a few weeks ago, Sam Bankman-Fried (SBF), but we will try to end as always with some good news:

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šŸ”“ FTX lawyers are not light on SBF.

Wellā€¦ honestly they may have their point. The news that came out (more here) through the lawyers examining the case is that a ā€œsubstantial amountā€ of FTXā€™s assets are gone, most of them ā€œhave either been stolen or are missingā€, whereas a closer look at the accounts shows that the failed exchange spent $300 million on buying property for their executive staff and also for SBFā€™s parents šŸ™ Well, we all need a houseā€¦ but $300 million itā€™s just pimp my ride style.

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šŸŸ” Elon enters the game.

The man of the moment couldnā€™t help but do what he does best, bring gas to a burning fire šŸ”„ In a recent tweet, Tesla and Twitterā€™s new CEO argued that FTX (more here) could still be working should SBF be as good at managing it as he is at ā€œbribingā€ media. The tweet is in response to news reports about all SBFā€™s efforts to buy the media to speak good things about him šŸ˜¬

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šŸŸ¢ Metaverse to the moon.

According to a recent report by international consultancy firm Deloitte, the Metaverse has the potential to generate an additional $800 billion to $1.4 trillion to Asiaā€™s gross domestic product (GDP) per year by 2035, growing into a market worth up to $13 trillion annually by 2030 (more here). This is just for Asiaā€¦ so we do understand why Deloitte writes that ā€œthe metaverse is no longer science fictionā€ šŸš€

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As usual, positive and promising news to open the weekend.

Take care you all. Weā€™ll talk next week šŸ‘‹

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Great job on learning something new today šŸŽ‰