UNEXPECTED New Twist in FTX Scandal | Will Solana Survive? Avalanche AVAX gains 500 Million!



A new unexpected twist arises with FTX and Robinhood stock, Solana tanks over 10%, and Trader Joe moves to Arbitrum. Avalanche gains millions of new users as it partners with the International chess federation.
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⏱️ TIMESTAMPS
00:00 INTRO
0:27 BTC Whales Bad news
1:17 Solana Tanks 10% overnight
2:06 Cardano sees massive developer activity
2:44 SBF Buys Robinhood shares with Alameda Loan
4:03 The U,S DOJ looks into the FTX hack
5:05 Alameda Wallets begin selling off tokens for BTC
6:16 Trader Joe DEX moves to Arbitrum
7:06 AVAX partners with International Chess Federation

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#FTX #Solana #cryptonews

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SBF Declines a Congressional Invite; Alameda CEO Is Seen in New York City



This episode is sponsored by Nexo.io, Circle and Kraken.

On today’s episode, NLW catches up on the latest surrounding the fallout of FTX, including Sam Bankman-Fried’s back and forth with House Financial Services Committee Chair Rep. Maxine Waters (D-Calif.) over a congressional appearance next week, a spotting of Alameda Research CEO Caroline Ellison in New York City, the latest in the Three Arrows Capital bankruptcy and the problems with CoinDesk sister company Genesis Global Capital.

Nexo is a security-first platform where you can buy, exchange and borrow against your crypto. The company ensures the safety of your funds and keeps innovating with products like the Nexo Wallet – a non-custodial smart wallet that allows you to create your Web3 identity. Get early access at nexo.io/wallet.

Circle, the sole issuer of the trusted and reliable stablecoin USDC, is our sponsor for today’s show. USDC is a fast, cost-effective solution for global payments at internet speeds. Learn how businesses are taking advantage of these opportunities at Circle’s USDC Hub for Businesses.

Kraken, the secure, trusted digital asset exchange, is our sponsor for today’s show. Kraken makes it easy to instantly buy 185+ cryptocurrencies with fast, flexible funding options. Your account is covered by regular Proof of Reserves audits, industry-leading security and award-winning Client Engagement, available 24/7. Sign up and trade today at kraken.com/breakdown.

“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsors today is “Back To The End” by Strength To Last. Image credit: Chip Somodevilla/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

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