🥂 Good morning, today is Tuesday, Nov. 29, 2022.

TL;DR

🔹 Bitcoin and Ether recovered slightly during the early hours of Tuesday, following the rallies of Hong Kong and China’s equity indices as investors anticipate the latest protests may hasten the speed of relaxing measures.

🔹 Germany’s CPI and Canada’s GDP growth rate will be the highlights on Tuesday. Meanwhile, Fed Chair Powell will deliver his speech on Wednesday 18:30 UTC following a basket of countries releasing a range of economic data throughout the day.

🔹 In the decentralized space, the biggest headline is BlockFi filing for chapter 11 bankruptcy protection Monday after suspending withdrawals amid the ongoing fallout from exchange FTX's bankruptcy filing.

🔹 The topic of the Day: BlockFi Officially Goes Bankrupt, Sues SBF for Causing Its Collapse

🔹 Happenings of the Week: Cross-chain bridge Across Protocol (ACX) is now open for airdrop claims; Aave deactivates YFI, CRV, MANA, 1INCH, and 17 other low liquidity asset pools; Israel's Ministry of Finance issues proposal for Digital Asset Regulation…

As of 01:51 UTC,

⚡️ Bitcoin (BTC) 24-Hour Change: 16,254 (+0.73%)
⚡️ Ether (ETH) 24-Hour Change: 1,176 (+1.15%)

Fed Chair Speech, China Unrest, And 2023 Stagflation Consensus

During the first hours of Tuesday's trading session, Bitcoin and Ether recovered slightly after falling with the rest of the markets Monday in the midst of uncertainties around global supply chains potentially caused by the latest unrest in China as well as disappointing retail sales conditions during Black Friday in the US.

The halt in pessimism comes as some Chinese firms reported stronger-than-expected earnings, new housing support from the government, and speculation that nationwide demonstrations may hasten a shift away from Covid-Zero policies. As a result, equity markets rose in Hong Kong and mainland China.

On the other hand, US futures were little changed following a statement from St. Louis Fed President James Bullard who said that markets may be underestimating the chances of higher rates. Meanwhile, New York Fed President John Williams noted policymakers have more work to do to curb inflation, and Fed Vice Chair Lael Brainard said the string of supply shocks is keeping inflation risks elevated.

Elsewhere, oil fell Tuesday after gaining Monday when OPEC+ was seen considering deeper output cuts amid a faltering market. Bitcoin’s correlations with US Oil Fund and US Natural Gas Fund are at 0.69 and -0.27, up and down from 0.46 and -0.06 a week ago, respectively, per IntoTheBlock data.

Traders and investors alike will remain focused on developments in China Tuesday, and further ahead to Fed chief Jerome Powell’s speech Wednesday. Some economists expect he’ll cement bets that the Fed will slow its pace of rate increases next month -- while reminding Americans that its fight against inflation will run into 2023.

According to Bloomberg’s latest MLIV Pulse survey, almost half of the 388 respondents said a scenario where growth continues to slow while inflation remains elevated will dominate globally next year. In other words, stagflation may be the key risk for the global economy going forward into 2023.

On Tuesday, Germany and Canada are slated to report on their CPI and GDP, respectively. On Wednesday, China, India, the US, Eurozone (Italy and France), and Turkey will be in the spotlights as each of these nations reports on critical economic data.

3️⃣ Wednesday

01:30 UTC

China NBS Manufacturing PMI NOV

Actual: Awaiting Data; Consensus: 49; Previous: 49.2

• In OCT, the official NBS Manufacturing PMI unexpectedly fell to 49.2 from 50.1, missing market forecasts of 50.0. This was the lowest reading since July, amid strict COVID restrictions in several big cities with output (49.6 vs 51.5 in September), new orders (48.1 vs 49.8), and export sales (47.6 vs 47.0) all falling.
• Buying activity also declined following an increase in September (49.3 vs 50.2), while employment dropped at a steeper rate (48.3 vs 49.0). Meantime, delivery time lengthened the most in five months (47.1 vs 48.7).
• Turning to prices, input costs rose the most since May (53.3 vs 51.3); while output charges decreased at a softer pace (48.7 vs 47.1). Finally, business sentiment eased from September's three-month high (52.6 vs 53.4).

07:00 UTC

Turkey Q3 GDP YoY

Actual: Awaiting Data; Consensus: 4%; Previous: 7.6%

• In Q2, the Turkish economy expanded by 7.6 percent YoY, picking up from the 7.3 percent growth in the previous period and above market forecasts of a 7.5 percent increase.
• Household consumption expanded sharply (22.5 percent vs 21.5 percent in Q1), and gross fixed capital formation increased at a faster rate (4.7 percent vs 4.2 percent. Also, the change in net foreign demand contributed positively to growth as exports rose by 16.4 percent (from 14.8 percent) while imports increased by 5.8 percent (from 2.2 percent).
• On the other hand, government expenditure slowed (2.3 percent vs 3.1 percent). On a seasonally and calendar-adjusted basis, the economy grew by 2.1 percent from 1.2 percent in the first quarter.

07:45 UTC

France Inflation Rate YoY Prel NOV

Actual: Awaiting Data; Consensus: 6.2%; Previous: 6.2%

• In OCT, the annual inflation rate in France jumped 6.2%, the highest since June of 1985, from a 5.6% gain in September, and in line with preliminary estimates.
• Main upward pressures came from food (12.0% vs 9.9%), energy (19.1% vs 17.9%), and manufactured goods (4.2% vs 3.6%). On the other hand, inflation slowed slightly for services (3.1% vs 3.2%).
• On a monthly basis, consumer prices inched up by 1%, the biggest rise since March and reversing from a 0.6% drop in September. Meanwhile, the harmonized CPI was up 1.2% on the month and 7.1% on the year.

⭐️ 10:00 UTC

Eurozone Inflation Rate YoY Flash NOV

Actual: Awaiting Data; Consensus: 10.4%; Previous: 10.6%

• In OCT, the Eurozone consumer price inflation was revised slightly down to 10.6 percent YoY from a preliminary estimate of 10.7 percent. Still, the rate was the highest on record and well above the European Central Bank's target of 2.0 percent, amid surging energy prices and euro weakness. The data kept the pressure on ECB policymakers to continue raising rates despite signs of an economic downturn.
• Main upward pressure came from energy (41.5 percent vs 40.7 percent in September), followed by food, alcohol & tobacco (13.1 percent vs 11.8 percent), services (4.3 percent, the same as in September), and non-energy industrial goods (6.1 percent vs 5.5 percent).
• The annual core inflation, which excludes volatile prices of energy, food, alcohol & tobacco, climbed to 5.0 percent in October, also the highest on record. On a monthly basis, consumer prices rose 1.5 percent.

10:00 UTC

Italy Inflation Rate YoY Flash NOV

Actual: Awaiting Data; Consensus: 11.3%; Previous: 11.8%

• In OCT, the annual inflation rate in Italy soared to 11.8 percent, the highest in 37 years, from 8.9 percent in the previous month and slightly below preliminary estimates of 11.9 percent.
• Prices soared for energy (71.1 percent vs 44.5 percent in September), both for the non-regulated (79.4 percent vs 41.2 percent) and regulated (51.6 percent vs 47.7 percent) kinds, amid the increased costs of purchasing natural gas from sources alternative to Russia. Consumer costs also rose for food and non-alcoholic beverages (13.5 percent vs 11.7 percent).
• The annual core inflation rate, which excludes energy and unprocessed food, extended its record-high to 5.3 percent from 5 percent in September. On a monthly basis, consumer prices rose by 3.4 percent, the sharpest increase since 1980 and picking up from the 0.3 percent uptick in the prior month.

⭐️ 12:00 UTC

India Q3 GDP YoY

Actual: Awaiting Data; Consensus: 6.2%; Previous: 13.5%

• In Q2, the Indian economy expanded 13.5% YoY, the most in a year but less than market forecasts of 15.2%.
• Gross value added increased faster for agriculture, forestry & fishing (4.5% vs 2.2% in Q2 2021); electricity, gas, water supply & other utility services (14.7% vs 13.8%); financial, real estate & professional services (9.2% vs 2.3%) and public administration, defence & other services (26.3% vs 6.2%).
• On the other hand, a slowdown was seen for mining & quarrying (6.5% vs 18%); manufacturing (4.8% vs 49%); construction (16.8% vs 71.3%) and trade, hotels, transport, communication & services related to broadcasting (25.7% vs 34.3%). On the expenditure side, household consumption accelerated (25.9% vs 14.4% in Q2 2021) and government expenditure rebounded (1.3% vs -4.8%).
• Meanwhile, gross fixed capital formation slowed (20.1% vs 62.5%) and net foreign demand contributed negatively to growth, as exports rose 14.7% while imports advanced at a faster 37.2%.

13:15 UTC

US ADP Employment Change NOV

Actual: Awaiting Data; Consensus: 200K; Previous: 239K

• In OCT, private businesses in the US unexpectedly created 239K jobs, the most in three months, and compared to market forecasts of 195K.
• The hiring was not broad-based with the services-providing sector creating 247K jobs, led by leisure/hospitality (210K) and trade/transportation/utilities (84K). On the other hand, jobs were lost in information (-17K); professional/business (-14K); financial activities (-10K); education/health (-5K). Also, the goods sector shed 8K jobs, mainly due to manufacturing (-20K).
• According to ADP chief economist Nela Richardson, "Goods producers, which are sensitive to interest rates, are pulling back, and job changers are commanding smaller pay gains. While we're seeing early signs of Fed-driven demand destruction, it's affecting only certain sectors of the labor market."
• Meanwhile, the annual pay growth remained nearly the same for job starters (7.7%) and slowed slightly for job changers (15.2%).

⭐️ 13:30 UTC

US Q3 GDP QoQ 2nd Estimate

Actual: Awaiting Data; Consensus: 2.7%; Previous: -0.6%

• In the first estimate for Q3 GDP growth rate, the US economy grew an annualized 2.6% QoQ, beating forecasts of a 2.4% rise and rebounding from a contraction in the first half of the year.
• The biggest positive contribution came from net trade (2.77 pp vs 1.16 pp in Q2), as the trade gap narrowed. Imports sank 6.9% (vs +2.2%) while exports were up 14.4% (vs 13.8%), led by petroleum products, nonautomotive capital goods, and financial services.
• At the same time, nonresidential investment jumped 3.7% (vs 0.1%), boosted by increases in equipment and intellectual property. On the other hand, residential investment sank for the 6th quarter (-26.4%) as the housing market has been hit by soaring mortgage rates.
• Finally, consumer spending grew at a slower pace (1.4% vs 2%) but remained resilient as higher outlays on services (led by health care) offset a decrease in goods, namely motor vehicles and food and beverages. Also, the drag from private inventories was smaller (-0.7 pp vs -1.91 pp).

⭐️ 15:00 UTC

US JOLTs Job Openings OCT

Actual: Awaiting Data; Consensus: 10.3M; Previous: 10.717M

• In SEP, the number of vacancies in the United States unexpectedly rose by 437,000 to 10.72 million, up from 10.2 million in August and easily beating market expectations of 10.0 million. The level of openings remained close to record highs seen at the end of 2021, which could add to inflationary pressure coming from raising wages to attract and keep staff.
• Openings were up in several industries with the largest increases being reported in accommodation and food services (+215,000); health care and social assistance (+115,000); and transportation, warehousing, and utilities (+111,000).
• Meanwhile, job openings decreased in wholesale trade (-104,000) and in finance and insurance (-83,000). Elsewhere, the number of hires was down by 252,000 to 6.33 million, while total separations including quits, layoffs and discharges, and other separations declined by 370,000 to 5.69 million.

⭐️ 18:30 UTC

Fed Chair Powell Speech

Minutes from the November 1-2 FOMC meeting showed a substantial majority of Fed officials judged that a slowing in the pace of the fed funds rate increase would likely soon be appropriate, as it would better allow the Committee to assess progress toward its goals of maximum employment and price stability.

Policymakers also noted that with inflation showing little sign of abating, and with supply and demand imbalances in the economy persisting, the ultimate level of the federal funds rate that would be necessary to achieve the Committee's goals was somewhat higher than they had previously expected.

The Federal Reserve raised the target range for the federal funds rate by 75bps to 3.75%-4% during its November 2022 meeting, marking a sixth consecutive rate hike and the fourth straight three-quarter point increase, pushing borrowing costs to a new high since 2008.

2️⃣ Tuesday

13:00 UTC

Germany Inflation Rate YoY NOV

Actual: Awaiting Data; Consensus: 10.3%; Previous: 10.4%

Inflation Rate MoM Prel NOV

Actual: Awaiting Data; Consensus: -0.2%; Previous: 0.9%

• In OCT, the annual inflation rate in Germany was at 10.4%, matching the preliminary reading and hitting a fresh peak since the reunification, amid euro weakness, a deepening energy crisis, and lingering supply chain issues.
• The goods inflation rose to 17.8% in October from 17.2% a month earlier, led by high cost of energy (43.0% vs 43.9% in September) and an acceleration in food prices (20.3% vs 18.7%). Also, cost of services quickened (4.0% vs 3.6%), with rent prices rising further by 1.8%.
• The prices of energy products increased sharply, especially for natural gas (109.8%), heating oil (35.6%), electricity (26.0%), and motor fuels (22.3%). On a monthly basis, consumer prices were up 0.9% in October.
• The CPI, harmonized to compare with other European countries, increase 11.6% on the year, the highest level on record; and went up 1.1% month-on-month.

13:30 UTC

Canada Q3 GDP YoY

Actual: Awaiting Data; Consensus: 1.5%; Previous: 3.3%

GDP Growth Rate QoQ

Actual: Awaiting Data; Consensus: 0.4%; Previous: 0.8%

• In Q2, the GDP in Canada expanded by 0.8 percent during the three months leading to June 2022, equaling the growth rate from the previous period to mark four consecutive quarters of growth.
• The accumulation of business inventories contributed the most to growth in non-farm and farming inventory investments. Final consumption expenditure grew by 1.7 percent, with solid contributions from household spending on semi-durable goods (5.6 percent) and services (3.9 percent).
• On the other hand, net foreign demand contributed negatively to real GDP growth, as the substantial rise in imports (6.9 percent) outpaced the slight rebound for exports (2.6 percent). On an annualized basis, the economy expanded by 3.3 percent, missing expectations of a 4.4 percent growth.

💡 Today's Markets at 01:07 UTC

BTC -0.20%; Ether -0.07%.

Asia: Japan -0.43%; Hong Kong -1.57**%**; China -0.75%; India +0.27%.

Europe: London +0.06%; Paris -0.70%; Frankfurt -1.09%.

Index Futures: Dow +0.01%; S&P +0.09%; Nasdaq +0.09%.

US Two-year Treasury unchanged at 4.465%.

US Ten-year Treasury up 1bps at 3.701%.

UK Ten-year Government up 2bps at 3.131%.

US Dollar Index +0.48% at 106.35.

FX: GBP: -0.81%; EUR: -0.31%; JPY: +0.21%; CNY: +0.60%.

**Gold -**0.76%; Brent Crude -0.47%.

🗓 Catalysts this week

• Tuesday: Germany CPI, Canada GDP
• Wednesday: US GDP, US Employment Change, China NBD PMI, India GDP, Eurozone CPI, France CPI, Italy CPI, Turkey GDP
• Thursday: China Caixin PMI, US Income & Spending, US ISM PMI, Japan Consumer Confidence, Eurozone Unemployment Rate, Italy Unemployment Rate, Brazil GDP
• Friday: US Non-Farm Payroll & Unemployment Rate, Germany Balance of Trade, Canada Unemployment Rate

🏦 BTC

BTC Weekly timeframe:

• Major Level: 13,965 (Monthly High of Jun. 2019)
• Closest support zone: 16,010 - 15,525
• Key resistance level: 16,430 - 16,850

Analysis as of Nov. 29 - Dec. 4 Session.

BTC Weekly Resistance zones

1. 16,430 - 16,850
2. 17,085 - 17,715
3. 17,875 - 18,246

BTC Weekly Support zones

1. 16,010 - 15,525
2. 15,310 - 15,200
3. 14,650 - 14,405

BTC Daily Timeframe:

• Closest support zone: 16,305 - 16,150
• Closest resistance zone: 16,630 - 16,800
• Key Level: 15,952 (Weekly Close Between Nov. 02 - 09, 2020)

Nov. 29 00:56 UTC Update:

Bitcoin (BTC) was trading at $16,182, or -1.56% in a 24hr period.

BTC Daily Resistance zones

1. 16,300 - 16,630
2. 16,745 - 16,875
3. 16,990 - 17,205

BTC Daily Support zones

1. 16,300 - 16,010
2. 15,860 - 15,780
3. 15,580 - 15,495

🌐 ETH

Weekly Timeframe

• Major Level - 757 (Monthly High of Dec. 2020)
• Closest support zone: 1,110 - 1,060
• Key resistance zone: 1,220 - 1,265

Analysis as of Nov. 29 - Dec. 4 Session.

ETH Weekly Resistance zones

1. 1,220 - 1,265
2. 1,280 - 1,330
3. 1,345 - 1,390

ETH Weekly Support zones

1. 1,110 - 1,060
2. 1,035 - 990
3. 910 - 795

ETH Daily Timeframe

• Closest support zone: 1,175 - 1,160
• Closest resistance zone: 1,220 - 1,240
• Key Level: 1,010 (Weekly High from Dec. 28, 2020 - Jan. 04, 2021)

Nov. 29 01:05 UTC Update:

ETH was trading at $1,165, or -1.08% in a 24hr period.

ETH Daily Resistance zones

1. 1,220 - 1,240
2. 1,255 - 1,270
3. 1,295 - 1,315

ETH Daily Support zones

1. 1,175 - 1,160
2. 1,140 - 1,120
3. 1,110 - 1,065

📌 Today's topic: BlockFi Officially Goes Bankrupt, Sues SBF for Causing Its Collapse

On November 28, crypto-lending company BlockFi and its eight subsidiaries officially filed for bankruptcy with the New Jersey Bankruptcy Court under Chapter 11. The filing shows that BlockFi has over 100,000 creditors with estimated assets and estimated liabilities in the range of $1 billion to $10 billion.

Ankura Trust Company, LLC is its largest creditor with approximately $729 million worth of unsecured claims, followed by FTX US with $275 million in unsecured claims and the SEC with $30 million.

Next, BlockFi will focus on collecting all debts from its counterparties, including FTX and related corporate entities. BlockFi also initiated an internal program today to significantly reduce expenses, including labor costs. Platform services will remain suspended.

BlockFi still holds $256.9 million in cash, which is expected to provide sufficient liquidity to support certain operations during the restructuring process.

Just hours after BlockFi filed for bankruptcy, BlockFi launched a lawsuit against SBF, seeking to seize $575 million worth of SBF's stock in Robinhood.

BlockFi's exposure to SBF ultimately led to its collapse, BlockFi said in court documents, after SBF pledged stock assets in Robinhood as collateral for an unnamed borrower on behalf of its Emergent Fidelity Technologies company earlier this month. Legal documents show that the "unnamed borrower" is none other than Alameda Research, which owed BlockFi $680 million in early November.

In addition, BlockFi legal counsel Mark Renzi said in a statement filed with the court that BlockFi sold its holdings to cover anticipated bankruptcy costs and does not intend to fund itself through loans while it is protected by the court. BlockFi is currently in the process of cutting costs for its bankruptcy reorganization plan and has issued layoff notices to nearly 250 employees (out of a total workforce of approximately 370).

Mark Renzi said BlockFi intends to reorganize in bankruptcy court rather than sell itself but is open to any deal that maximizes recovery of debt funds for creditors. How much assets users ultimately get back depends in large part on whether other crypto borrowers can honor their contracts with BlockFi and how well FTX Group's bankruptcy plays out.

In the event of an FTX bankruptcy, the company would have "no choice" but to seek legal protection for its creditors.

👁 Happenings of The Week (Nov. 25 - 29):

📣 Notables

🔹 Fed's Williams: Fed may cut rates in 2024

🔹 Putin calls for building international clearing solutions based on blockchain and digital currencies.

🔹 Hong Kong Treasury Secretary: New licensing regime for virtual asset service providers to be launched in coming months.

🔹 China's Central Bank will lower the reserve requirement ratio for financial institutions by 0.25 percentage points on December 5.

🔹 Hangzhou, China: New government policy to support the integrated application of new technologies such as metaverse and blockchain in the field of animation games and e-sports.

🔹 China's Hubei: Xianyang High-tech Zone to branch out a "metaverse industry pioneer zone" with the aim to make it the "second growth curve” for the province within three years

🔹 Belgium HKMA: Cryptocurrencies without issuers such as BTC and ETH are not securities and do not need to comply with financial rules.

🔹 Monetary Authority of Singapore (MAS) will further deepen cooperation with the UK Treasury in the field of crypto assets.

🔹 Israel's Ministry of Finance issues proposal for Digital Asset Regulation and calls for stronger regulation on Stablecoins and Crypto Taxes

📣 Nov. 29

🔹 Twitter restores 62,000 deactivated accounts, including one account with 5 million followers, and another with 75 million followers.

🔹 Across Protocol (ACX), the cross-chain bridge, is now open for airdrop claims.

🔹 BlockFi officially files for bankruptcy: there are over 100,000 creditors, while assets and liabilities are in the range between $1 billion to $10 billion.

🔹 Texas Governor is open to Bitcoin and has set up a working group to improve Bitcoin-related legislation.

📣 Nov. 28

🔹 Fidelity officially opens Fidelity Crypto, a crypto investment product for retail clients.

🔹 Global Web3 market raises $850 million in October, down 52% YoY.

🔹 Messari Founder: DCG and Genesis are facing a liquidity crisis, but there won’t be a GBTC Dump.

🔹 Aave deactivates YFI, CRV, MANA, 1INCH, and 17 other low liquidity asset pools to prevent attacks.

🔹 Crypto bloggers are gathering in the Bahamas, with many claiming to be joining the search for SBF.

🔹 Telegram now supports trading BTC and TON directly in the app chat interface.

🔹 The number of addresses holding 1 - 10 BTC is at a record high of nearly 800,000.

📣 Nov. 27

🔹 LG tops metaverse patent rankings, Huawei, Meta among top five.

🔹 Privacy project MobileCoin up over 300% in 24 hours, influenced by Twitter's launch of Signal encrypted private messaging.

🔹 Number of Addresses Holding 0.1 Bitcoins Reaches Record High of 4,069,920.

🔹 Swiss mobile app developer BIZI LABS launches flagship Web3 smartphone with Polygon integration.

🔹 Bloomberg: $84.1 Million Donated to U.S. Politicians by Crypto Industry Players, 84% from SBF and FTX Executives.

📣 Nov. 26

🔹 Musk will produce his own smartphone if Google and Apple take down Twitter.

🔹 CZ: FTX's collapse is nothing like Luna, expect crypto industry to improve next year

🔹 Multiple U.S. regulators are investigating whether Genesis Global Capital violated securities laws

📣 Nov. 25

🔹 Tiantian Kullander, co-founder of Amber Group, died unexpectedly.

🔹 Jihan Wu's crypto financial services platform Matrixport is looking to raise $100 million at a $1.5 billion valuation.

🔹 Solana Foundation Loses Over $180 Million Worth of Crypto Assets Due to FTX Bankruptcy.

🔹 Crypto Wallet Maker Ledger Launches Crypto Debit Card "Crypto Life" in Europe.

🔹 Amazon commissions independent film and TV production company AGBO for a TV series about FTX.

🔹 CoinList: Charging Delays are Technical Issues, Not Liquidity Crunch; Will Release Proof of Reserves

📣 This week’s fundraising activities include but are not limited to:

🔹 Cameroonian crypto platform Ejara has closed an $8 million round of funding led by Anthemis and Dragonfly. Ejara offers users in French-speaking Africa a service to buy, sell, exchange and store their cryptocurrencies, and does so using a non-custodial wallet. In addition to cryptocurrencies, it is also tokenizing government bonds and issuing savings products based on them.

🔹 Web3 game development company Midnight closed a $7.5 million seed round led by Shima Capital and others. Founded in late 2021, Midnight currently has more than 60 full-time employees and aims to create real value for players and build a world of IP-based games using blockchain technology. Its products include Next Protectors, a 2D pixel fighting game, and Legion, a 4X MMO game.

🔹 DAO tool XDAO closes $2.3 million seed round with participation from Panony and others. XDAO CEO Vlad Shavlidze said the round was completed through Token sales and the terms of the funding include a 12-month lock-up period and 36-month linear vesting period, as well as Token economics tailored to crypto bears.

🔹 NFT perpetual contract trading platform nftperp closed a $1.7 million seed round of funding, with a post-investment valuation of $17 million. flow Ventures and others participated in the round. It is reported that nftperp tracks the lowest price of NFT pools and allows users to go long and short NFT.

📣 This week’s on-chain criminal activities include but are not limited to:

🔹 FTX Hack Update: On November 25, on-chain analyst ZachXBT posted on social media that the FTX hacker "FTX Accounts Drainer" has laundered 360 BTC by using the crypto-mixer ChipMixer, nearly $6 million at current prices.

🔹 Pleasant Goat and Big Big Wolf NFT has a data breach security vulnerability and should be vigilant. According to the Sheepdog vulnerability monitoring system of Supremacy's security team, the Pleasant Goat and Big Big Wolf NFT project of AoFei Entertainment is vulnerable to a generic security vulnerability, CVE-2022-38217, previously disclosed by Supremacy. The vulnerability could lead to the early disclosure of metadata for all NFTs in the project, allowing hackers to pre-screen valuable NFTs and then target the casting of specified NFTs by monitoring Mempool and finally selling them in the secondary market for profit. Previously Supremacy has tried to contact the official through Discord, but as of this writing the official did not have any response.