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 🔥

Also, if your team is in the World Cup, I hope they are having good results ⚽️ Tell us where you’re from so we can follow the games together in our community !

Now to business 💼 💵

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:

🔴 FTX lawyers are not light on SBF.

Well… honestly they may have their point. The news that came out (more here) through the lawyers examining the case is that a “substantial amount” of FTX’s assets are gone, most of them “have either been stolen or are missing”, 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 SBF’s parents 🏙 Well, we all need a house… but $300 million it’s just pimp my ride style.

🟡 Elon enters the game.

The man of the moment couldn’t help but do what he does best, bring gas to a burning fire 🔥 In a recent tweet, Tesla and Twitter’s new CEO argued that FTX (more here) could still be working should SBF be as good at managing it as he is at “bribing” media. The tweet is in response to news reports about all SBF’s efforts to buy the media to speak good things about him 😬

🟢 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 Asia’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 Asia… so we do understand why Deloitte writes that “the metaverse is no longer science fiction” 🚀

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

Take care you all. We’ll talk next week 👋

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