Crypto Market Update 11-11-2022

Hello everyone!

The Christmas season is starting so we decided to bring you a weekly gift 🧑‍🎄. Every Friday we will deliver the hottest news and events of the week 🔥 so you can handle the cold weather.

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But first an interesting fact

Did you know Mariah Carey’s hit “All I Want for Christmas is You”🎵 was released 28 years ago (yes, 28!) and is still the most listened song at Christmas time? I wonder how many of you have been hearing it for all these years 😏

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Now let’s get down to business 💼 💵

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🔴 First things first.

This week was one of the craziest ever in the crypto world. We saw one of the biggest names collapse (FTX in case you’ve been distracted 🙂) and wipe billions from the space threatening a never ending crash and effects. Blockfi next ?

You can find out more about this story — almost fictional — here (more here). Viewer discretion is advised.

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🟡 After the fire came the firefighters 🚒

But instead of water, brought fuel. Binance, one of the world’s largest crypto exchanges, amid fears of market meltdown, said it had contacted FTX in order to help through an acquisition deal. However, just 24 hours later, CZ — the Fire Chief Officer (kidding, just Binance’s CEO in case you don’t know) — backed (more here) out of the deal.

This move not even Sun Tzu could have predicted in his “Art of War” ⚔️

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🟢 Meanwhile the markets started to recover 📈.

Everyone was waiting for the U.S. October inflation data. If higher than expected, total disaster. If lower, party in the house 🎉

Truth is, the results came in slightly lower (more here), with inflation slowing down and markets back in the green, so we can honestly say the hottest thing these days is really our new newsletter 🔥

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Well, positive news to open the weekend !