The Next CeFi Lender Down [ Crypto Espresso 11.29.22 ]

It's Tuesday which means there's news That's right it's the Tuesday Newsday do You like news well you've come to the Right place because I am your host Andrew and this is crypto espresso your Teeny tiny daily shot of caffeinated Crypto headlines prepare yourself first Up a bankruptcy filing reveals the scale Of the challenge facing blockfi the Company estimates that it has more than 100 000 creditors in the books and owes More than one billion dollars to the top Three a court document shows that one of Those odamani is the U.S Securities and Exchange Commission with a brain-popping Sum of 30 million dollars outstanding This is linked to a 100 million dollar Settlement agreed back in February after It failed to register the offers and Sales of its crypto lending product Overall the largest unsecured creditor Is ankora trust company which acted as a Trustee for the interest-bearing Accounts that blockfi offered it's owed A whopping 729 million dollars and in Other developments the financial times Is reporting that blockfi is suing Sam Bankman freed in an attempt to sees Shares in Robin Hood of all the fights That Elon Musk has picked since taking Control of Twitter the most dangerous One may be the one that he has now Picked with apple accusing it of Threatening to boot Twitter off the App

Store the billionaire has attacked the Tech giant for charging a 30 fee Whenever anything is purchased through An iPhone the whole kerfuffle came about After the entrepreneur tweeted Apple has Mostly stopped advertising on Twitter do They hate free speech in America Twitter's removal from the app store Would have devastating consequences for The Social Network that musk bought for A whopping 44 billion dollars it could Stop iPhone and iPad users from being Able to download it and prevent existing Users from getting software updates Kraken has been facing a maximum fine of 272 million two hundred and twenty eight Thousand nine hundred and sixty four Dollars after violating U.S sanctions by Letting Iranian Nationals use its Services but the penalty it's actually Paid 362 thousand dollars that's just 0.133 Of what it would have been and shows That Honesty might actually be the best Policy Kraken reported the violation Itself since the problem was a technical Flaw that allowed Iranians to get around It's generally good to know your Customer controls furthermore the Company agreed to spend an extra one Hundred thousand dollars to improve its Compliance systems so this little oopsie Wouldn't happen again the treasury Department's office of foreign asset

Control ofac which imposes and regulates Sanctions has its eye firmly on crypto At the moment so let that be a lesson to All exchanges be on your best behavior And finally the bear Market has led to a Number of high-profile casualties among Crypto businesses but according to the Ft they're not the only ones suffering a New report suggests that nightclubs in Miami have seen a marked decline in Big Spenders ever since the value of major Cryptocurrencies plummeted thus dragging Nfts down with them the Ft spoke to one Hotel group that said crypto Entrepreneurs were willing to blow five Hundred thousand dollars on renting a Club exclusively for just one evening Spending insane amounts of money the Revelers were 95 percent men and young With a kind of nerdy style with some Ordering 12 or 24 bottles of the most Expensive champagne and then just Showering themselves without even Drinking it and as somebody who Exclusively bathes in only the finest Champagne I I can relate the bubbles are Really good for your pores sure it makes You feel really sticky and greatly Increases the likelihood of bee attacks But it's a small price to pay to feel Better than everyone else a cheaper path To superiority though for budget Conscious folks it's liking this video Subscribing to our YouTube channel and

Clicking on that little bell icon to get Buzzed whenever a new crypto espresso Video goes live on yesterday's video I Asked for titles to Amazon's new FTX Docudrama and oh boy you delivered the Box 75 said how did FTX spill the crypto Espresso crypto Moon easy said FTX in The city or the f word and M Russi or Mr UC said Samuel the bankman's fraud uh I Think I have to add an alleged to that Our legal basis uh today sound off on Elon's Twitter report card thus far is He figuratively killing it or literally Killing it let us know in those comments Below because I read them and I'll shout Out my favorites in tomorrow's episode Questions about today's headlines or Crypto in general ask Alex in that Description below Alex is also a great Resource for all things web 3 and the Metaverse end that about does it for Today again I've been your host Andrew These have been your headlines and we'll See all of your beautiful faces tomorrow