Today in DeFi - Binance FTX Potential Merger, Bebop Live, Inverse DBR Airdrop, and More...

Binance FTX Potential Merger

jonwu.eth @jonwu_

Less than a week ago, on November 2nd, CoinDesk broke a story claiming to have acquired Alameda Research's balance sheet. It showed a damning view of the relationship between Alameda, a hedge fund, and FTX, an exchange.

coindesk.comDivisions in Sam Bankman-Fried’s Crypto Empire Blur on His Trading Titan Alameda’s Balance SheetAlameda had $14.6 billion of assets as of June 30, according to a private document CoinDesk reviewed. Much of it is the FTT token issued by FTX, another Bankman-Fried company.

On Nov. 2nd, Coindesk reported on a leaked balance sheet from Alameda Research, which maintains close ties with FTX.

On Sunday night, Binance's CEO sent a tweet about selling FTT.

CZ 🔶 Binance @cz_binance

As part of Binance’s exit from FTX equity last year, Binance received roughly $2.1 billion USD equivalent in cash (BUSD and FTT). Due to recent revelations that have came to light, we have decided to liquidate any remaining FTT on our books. 1/4

FTX users started to withdraw amounts in big amounts, causing a liquidity crunch on the exchange. FTX was then forced to sell part of its crypto holdings to keep the reserve from depletion.

On Tuesday, Binance's CEO confirmed a deal on Twitter with FTX, saying the two exchanges signed a non-binding letter of intent where Binance may acquire FTX.The deal has not been settled as Binance is continuing to do DD on FTX.

User withdrawals have not been resumed on FTX as of writing.

Bebop Live on Polygon

Bebop @bebop_dex

1/ … aaaaaand WE ARE LIVE! 🤯 Attention #bebopfam & the world - we have big news: Bebop is now open for trading to EVERYONE on both @ethereum and @0xPolygon! 🥳

Bebop launches on Polygon due to the network’s low fees. Bebop is a DEX with low slippage and allows users to trade a basket of tokens in a single transaction.

Swim Shutting Down

Swim Protocol @SwimProtocol

1/ After careful consideration, we regret to inform you that we will be shutting down Swim due to external factors as well as Swim’s internal trajectory and traction.

Cross-chain stableswap Swim protocol announced it will terminate the protocol due to external and internal concerns.

WooFi Live on Arbitrum

WOO Network @WOOnetwork

New chain. New WOOFi. Yes, you read that correctly - WOOFi is now on @arbitrum and going Super Saiyan with the release of sPMM V2 🚀 Prepare yourselves as we unveil what is set to be a new chapter in the history books of $WOO 👇 (1/10) medium.com/woonetwork/woo…

medium.comWOOFi is now live on ArbitrumWOOFi evolves with sPMM V2 and pushes further into the Ethereum ecosystem following the integration of its fifth chain — Arbitrum

WooFi, WOO network’s DeFi products, launches on Arbitrum with the debut of sPMM v2, which brings improvements on gas cost and price feeds to swapping.

STEPN x ASICS & Solana

STEPN | Public Beta Phase V @Stepnofficial

A New Era of Web3 Fitness ⚡️ The @ASICSamerica x @solanapay + @Stepnofficial collaboration is perfectly poised to disrupt the fitness industry as we know it. Read now ⤵️

stepnofficial.medium.comSTEPN Partners with ASICS and Solana, Pioneering a New Era of Web3 FitnessWe at STEPN are proud to partner with ASICS and Solana to pave the way for the Web3 fitness industry. We are aligned with ASICS in our goal…

STEPN announces partnership with ASICS and Solana to launch the UI Collection, a physical product available to order using USDC on Solana Pay.

Ncsoft Invests in Sui

GamesBeat @GamesBeat

South Korean gaming giant NCSoft has invested $15 million in Mysten Labs as part of a previously announced $300 million funding round. #NCSoft #MystenLabs

venturebeat.comNCSoft invests $15M in Mysten Labs for Web3 gaming infrastructureSouth Korean gaming giant NCSoft has invested $15 million in Mysten Labs as part of a previously announced $300 million funding round.

Mysten Labs, the builder of the Sui blockchain, has entered a strategic partnership with South Korean gaming company Ncsoft. Both parties will partner up to create engaging gaming experiences.

Inverse DBR Airdrop

Overview