Goldman Sachs 'Hunts' For FTX-Affected Companies

GM Readers!📪 It's BitDegree Insider, and we bring you the web3 goodies.

⭐️Today's selection:

• 🏦Goldman Sachs 'On The Hunt' For FTX-Affected Companies
• 🦘FTX Obtained Australian Licence Without Verification?
• 📸Who Will Take FTX's Place?
• 💰Blur Airdrop Update
• 👌Selected Meme of The Day
• 📰Bite-Sized News

GOLDMAN SACHS 'HUNTS' FOR COMPANIES THAT SUFFERED FROM FTX COLLAPSE

The bankruptcy of FTX hurt the cryptocurrency market. At the same time, the exit has created a vacuum, an opportunity, and Goldman Sachs is not about to miss it.

The bank has launched a "scavenger hunt" for organizations that have been affected by FTX's bankruptcy.

The company is buying them up at an outright bargain price, increasing its presence in the crypto market.

"We do see some interesting options and opportunities, the potential costs of which have been somewhat reduced," said Matthew McDermott, head of digital assets at Goldman Sachs.

He also commented on the state of the market following the departure of FTX.

He said that many people have suffered as a result of this crisis, but the underlying technologies that underpin the industry will continue to evolve.

TL;DR: Not everyone has lost confidence in cryptocurrencies after FTX collapse. Goldman Sachs continues to invest in the industry. The bank is actually on a real "hunt" for promising start-ups🔥

FTX OBTAINED AUSTRALIAN LICENSE WITHOUT VERIFICATION?

Joseph Longo of ASIC (Australian Securities and Investments Commission) has revealed a dangerous loophole in local laws.

It helped FTX get its license without strict inspections.

Longo himself is now in trouble - the official had to appear before a parliamentary committee to explain the situation with the collapse of FTX and Alameda.

The authorities had asked how these companies had obtained licenses in Australia. Because... If they were in that deep of a mess... Could it have been avoided beforehand?

Well... No. Joseph Longo explained that FTX had managed to avoid the usual vetting process by acquiring broker IFS Markets in 2021.

This automatically gave the company the right to own a license for that brand. Do you see what FTX did there? They couldn't enter the entertainment park... so they bought it.

FTX Australia fully entered the local market in March by taking out an additional license.

However, ASIC did not investigate FTX's assets, adequate requirements and capital controls. This is what led to the current disaster.

The first question here is why? but the more important question is... how did SBF become so powerful that literally rose above the law?

TL;DR: Authorities in Australia are investigating how FTX obtained the local license in 2021 by using a loophole in the law. FTX bought a local firm and automatically became a licensee.

FTX IS OUT. WHO WILL TAKE FTX's PLACE?

Well, talking about FTX is easy. It looks like the company had the entire globe in its tentacles and the more time will pass, the more damage will be revealed.

Nevertheless, FTX is out of the game. Binance saw their biggest competitor get eliminated. 

But as the wisdom of the ancient ones teaches us... When a powerful player leaves the arena... A power vacuum gets created.

And it doesn't take long till someone takes their place.

So the question arises. Who's going to take FTX's throne? Who's going to be the newest headache for CZ?

Some of you don't know - here, at BitDegree Insider, we're busy. And apart from writing this newsletter, we've got a YouTube channel as well. 

And we have just a video in which we dissect this question about who's the next big player in town. 

In it, we analyze the backstory of what we've got today, the current largest players in the market, and who has more potential to grow and challenge Binance.

And judging by the sizes of daily trading volumes... The most promising fighters are Coinbase and Kraken. So, be sure to check it out, and tell us what do you think about it.

BLUR AIRDROP UPDATE

Not long ago we wrote about Blur, a new and competitive NFT marketplace, organizing an airdrop.

Well, they have just began distributing their airdrop №2.

So, if you participated in the first airdrop, and followed the instructions that we provided you, you can check out your airdrop status here.

In general, the steps weren't difficult: you had to purchase and immediately sell NFTs. By doing so, you would receive an airdrop without any losses.

Even if you haven't interacted with NFTs up until now... you still have a chance.

Blur is extending Airdrop-event until the marketplace launch in January, meaning that all the possible actions on the Blur marketplace will be taken into account for receiving the airdrop № 3 from today.

A simple bid for an NFT will count as an action that can make you airdrop eligible.

NFT marketplaces are usually very generous with airdrops! Here are some success stories:

Recently, Uniswap bought an NFT marketplace and gave every active user $300.

At the beginning of 2022, when the Looksrare NFT marketplace was launched, everyone with a certain trading volume received between $100 and $2000.

This time, with Blur, it's even easier. no need for big volume, you can literally just place bids with $50 in ETH and you will be good to go!

If you have any questions or you are still confused about how to participate, please drop your concern on our Telegram Chat and either we, or someone from our community, will help you with pleasure!

SELECTED MEME OF THE DAY

BITE-SIZED NEWS

• Twitter is Allegedly Launching its Native Coin, Dubbed Twitter Coin. Never let them know your next move.
• Crypto Lender Nexo is Pulling Out of the United States. Rough year for crypto lenders.
• Kentucky Investigates Contracts Offering Cheaper Electricity to Crypto Miners. KFC stands for Kentucky Focuses (on) Crypto.
• US Representative Maxine Waters Urges Sam Bankman-Fried to Testify.At one point people will begin begging him.
• Malta is Looking to Eliminate Non-Fungible Tokens (NFTs) from Its Crypto Law. Malternative view.
• Binance's Future Top Rival: Kraken or Coinbase? Asking the real questions.