Top 5 Most Affected Countries By FTX Collapse

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⭐️Today's selection:

• 🌎Countries Most Affected By FTX
• 🆘Genesis Asks Binance For Help
• 🚨Sam Bankman-Fried Deepfake Goes Viral
• 👌Selected Meme of The Day
• 📰Bite-Sized News

WHAT COUNTRIES WERE AFFECTED BY THE FTX CRASH THE MOST?

When a giant falls, you better make sure you're safe and it's not falling down directly on you.

But FTX fell, and so it happened that a lot of individuals, communities, companies, and even countries found themselves squashed by the falling colossus. 

FTX's user base consisted of people from various countries. 

South Korea, Singapore, Japan, Russia, and Germany are the top 5 countries that were impacted by the crash the most, if ranked by monthly unique visitors.

South Korea alone represents 297,229 unique monthly FTX visitors. That's 6.1% of FTX's monthly traffic.

Singapore, despite only having a population of 5.4M, claims the second place with 241,675 unique monthly visitors. 

At its peak FTX had over 1.2 million users. The damage they caused was truly distributed internationally. 

TL;DR: South Korea, Singapore, Japan were affected by the FTX's crash the most.

GENESIS ASKS BINANCE FOR HELP, GETS TURNED DOWN

The problems for Genesis multiply. Last week their lending business unit (Genesis Global Capital) froze withdrawals.

They said they're doing this because of the mess that had caused FTX. 

Later it was revealed that before suspending withdrawals, they were actively seeking $1 billion emergency loan. But it didn't work out.

This situation communicates liquidity problems lurking just behind the corner.

And it's true. It's been reported that Genesis executives are getting desperate. 

New reports have been announced about Genesis trying their best to receive some financial support from Binance. 

And the cry for help was turned down. Binance commented on their decision:

"Binance decided not to invest, fearful that some of Genesis's business could create a conflict of interest down the line, according to one of the people familiar with the matter."

However, despite everything looking dire, Genesis keeps their head up:

"We have no plans to file (bankruptcy) anytime soon. Our goal is to resolve the current situation by consensus without declaring bankruptcy. Genesis will continue to negotiate constructively with creditors."

Currently, instead of $1B, they're in search of $0.5B. Maybe this will be easier to find.

Nevertheless, this shows that Genesis continues sinking in the liquidity swamp. 

TL;DR: The lending branch of Genesis, the crypto investment bank, has frozen withdrawals. They asked for additional investment injections to save them. Binance said 'no'.

SBF's DEEPFAKE GOES VIRAL

When you think things couldn't get any crazier... they always do.

So, scammers realized that SBF's communication with the public was pretty odd (for example his cryptic tweets that we wrote about).

Everyone are eagerly waiting for him to speak more. So... if they created a fake SBF... it would get people's attention. 

So these scammers did exactly that. 

They faked a video of SBF trying to direct gullible users to a malicious website. In the video he's promising 'giveaways' and that opportunities to get rich.

It appears that scammers have used interview footage, and a voice emulator. They ended up creating this 'attempt' at convincing people that it's legit.

And, actually, the result was pretty decent. The voice part sounds convincing. But the video, on the other hand... It didn't take long for people to notice that something's off.

The fact that such techniques are employed by scammers are scary, and no one wants Black Mirror to become reality as soon as 2022. 

But there's something else. The video was posted by a verified account. The fake 'SBF' had a blue tick verification. Which he acquired for the infamous $8. 

Elon Musk promised to solve the problem of Twitter's spam bots. But as of today, it looks like the mess only got messier.

Because if this won't get addressed asap, scams like this will reoccur. Often. And in higher quality.

TL;DR: Scammers made a fake video of SBF promising people compensation for their losses. It redirected users to a malicious website. 

SELECTED MEME OF THE DAY

BITE-SIZED NEWS

• Uniswap Labs to Gather Public User On-Chain Data. Decentralized... or not anymore?
• Texas Regulator to Investigate Steph Curry and Tom Brady for FTX Endorsement. Investing into FTX isn't one of his career's highlights.
• Crypto Exchange Bitget Announces Registration in Seychelles. She sells sea shells in Seychelles.
• Authorities in Kenya Consider Imposing Taxes on Crypto Transactions. No one likes that.