NFT Market Update 14th November 2022

Binance is forming an industry recovery fund to help strong projects through liquidity crises. CEO, CZ, welcomes industry players with cash who wish to co-invest.

FTX contagion continues to hit the NFT market after Star Atlas, a web3 game on Solana, announced they were materially impacted by FTX after parking funds into a short term yield fund.

US lawmakers call for urgent crypto regulation following FTX fallout. Senator Warren tweeted, “the implosion of FTX must be a wake up call for regulators to hold this industry and its executives accountable. Too much of the crypto industry is smoke and mirrors. It’s time for stronger rules and stronger enforcement to protect ordinary people.”

Ryan Carson withdrew his advisorship from @VCX_xyz after further investigation into the team and is refunding holders who lost money due to his involvement.