Until recently, Sam Bankman-Fried (SBF) had one of the largest fortunes in the digital industry world, with an estimated net worth exceeding $16 billion. Yet now the world can see the truth: SBF lies a lot. Like most mark-to-market fortunes that only exist on paper, wealth can evaporate during a liquidity crisis.

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On the heels of a tumultuous few days, weeks, and months for the cryptocurrency industry, the Consumer Financial Protection Bureau (CFPB) has released a 45-page bulletin detailing consumer reports of frauds, scams, and other malfeasance related to crypto — but is it a day late and a dollar short?

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Insiders at could-be acquired crypto exchange FTX are sharing perspectives on Twitter that paint a bleak picture of the firm’s final throes. As the market questioned the solvency of Sam Bankman-Fried’s top exchange, employees were seemingly left in the dark.

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A prominent trader within the crypto community has recently speculated that Solana may pump if Binance chief Changpeng Zhao (CZ) tweets anything positive about his mooted takeover of FTX.

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Yesterday, the world’s largest crypto exchange Binance announced it’s set to buy out struggling Bahamas-based rival FTX pending due diligence. However, markets are seemingly 50/50 on the chances of the deal going through.

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Polkadot supporter Web3 Foundation recently claimed that the $7 billion token Polkadot (DOT) has made friends with the Securities and Exchange Commission (SEC) and no longer qualifies as a security — instead, it’s software. Only, no evidence exists that the SEC made such a claim.

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In an effort to assess FTX’s financial situation, we’ve attempted, unsuccessfully, to track down the cold wallet with the remainder of the exchange’s ether. In the process of searching for the wallet, we encountered a series of interesting transactions that, while not evidence of any malfeasance, point to a very close relationship between FTX and Alameda Research.

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BitDAO, a DeFi project “building governance, treasury management, and DeFi products” linked to crypto exchange ByBit, has called out DeFi-focused trading firm Alameda Research to request proof that it didn’t break a three-year agreement to not sell each other’s tokens.

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Binance and FTX have just announced that, pending due diligence, Binance will be acquiring FTX in order to help with a “liquidity crunch”.

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FTX has stopped processing withdrawals of ERC-20 tokens, Solana, and Tron since earlier this morning. This comes amidst a renewed focus on the financial position of FTX, Alameda Research, and the extended Sam Bankman-Fried universe.

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