NFT Market Update 22nd November 2022

Parents of former FTX CEO, Sam Bankman-Fried purchased 19 Bahamas properties worth $121 million over the past two years.

Crypto lender Genesis warns that bankruptcy will come without new funding after Binance turned down its request for investment. The platform needs a $1 billion emergency fund by this week.

Gemini said it is working with Genesis and Digital Currency Group to find a solution to allow users to redeem their funds from the crypto exchange’s Earn product.

JPMorgan has filed a trademark for a new crypto wallet with the ability to exchange and transfer digital currencies. Earlier this month JP Morgan was the first bank to do blockchain-based transactions in the banking industry in a pilot program.

Applications for ApeCoin DAO Special Council closed yesterday after members Dean Steinbeck, Amy Wu, and Maaria Bajwa stepped down. New members will drive the vision for the future of ApeCoin and help make $APE ‘the coin that powers the metaverse’.