Share this article
First Mover Americas: FTX’s First Hearing, Genesis Seeks Help
The latest price moves in crypto markets in context for Nov. 23, 2022.
Updated Mar 3, 2023, 7:01 p.m. Published Nov 23, 2022, 1:27 p.m.
This article originally appeared in First Mover, CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day.
Latest Prices
CoinDesk Market Index (CMI) 831.65 +36.1 ▲ 4.5% Bitcoin $16,482 +571.8 ▲ 3.6% Ethereum $1,162 +55.0 ▲ 5.0% S&P 500 futures 4,015.75 +NaN ▲ NaN% FTSE 100 7,474.76 +22.0 ▲ 0.3% Treasury Yield 10 Years 3.76% ▼ 0.1 BTC/ETH prices per CoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Top Stories
Genesis Global Capital hired investment bank Moelis & Co. to explore options including a potential bankruptcy. The New York Times said a final decision hasn’t been made and it is still possible for the company to avoid a bankruptcy filing. Separately, Barry Silbert, founder of Genesis owner DCG, disclosed in a note to shareholders that the company had a roughly $575 million liability to Genesis Global Capital, which is due in May 2023. (DCG is also the parent company of CoinDesk.)
Sam Bankman-Fried, former CEO of FTX, apologized to the crypto exchange’s employees in a new letter sent out over the company’s Slack on Tuesday. He did not address concerns about customers' funds being misappropriated or other recent revelations about the company. Bankman-Fried said he felt "deeply sorry about what happened.” FTX also had its first hearing on Tuesday, letting the company’s lawyers finally get a better sense of just what was going on at the bankrupt crypto exchange.
Singapore’s largest bank by market cap, DBS, completed a fixed income trade on JPMorgan’s blockchain network Onyx. DBS said it is the first Asian bank to use the Onyx network, which is a blockchain-based fixed income trading network, to complete a trade. The Onyx Digital Assets network uses tokens for short-term trading in fixed income markets, enabling investors to lend assets for a period of hours without them leaving their balance sheets.
Chart of the Day
- The chart shows the open interest in bitcoin futures traded on the Chicago Mercantile Exchange (CME) has soared to 98,725 BTC, surpassing the peak of 93,628 BTC reached in October last year.
- Institutions have returned to the bitcoin market but on the bearish side.
- Open interest refers to the number of contracts open or active at a given time.
Trending Posts
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Bitcoin's growing roadblock: The trendline from $126,000 limits gains
Trendline from record highs capped BTC's recovery attempt Monday.
What to know:
- BTC's recovery attempts on Monday ran into a glass ceiling - trendline from record highs.
- A potential breakout would confirm a bearish-to-bullish trend change.
Top Stories
