Evening News | Messari Analyst: FTX Depositors Expected to Recover 40-50% of Assets; Huobi Announces 17 New Senior Executives, Reporting to Advisors like Justin Sun

整理：西昻翔，ChainCatcher

"What Important Events Happened in the Last 24 Hours"

1. Messari Analyst: FTX Depositors Expected to Recover 40-50% of Assets

Messari analyst Kunal Goel stated that after studying FTX's "balance sheet," he found that FTX may currently have up to $4 billion in liquid assets, while customer deposits amount to $8 billion. This means that depositors are expected to recover 40-50% of their assets. (Source link)

2. Crypto KOL: Genesis May Have Solvency Issues

Crypto KOL Autism Capital posted on social media that there are market rumors suggesting that the crypto trading and lending institution Genesis may have solvency issues. The company will hold a call with creditors at 8:00 AM EST on November 17 to explain the situation. If the rumors are true, Genesis may sell ETHE and GBTC to repay lenders.

According to Coinglass data, the current negative premium of the Grayscale Bitcoin Trust (GBTC) is 37.08%, and the negative premium of the ETH Trust is 34.47%. (Source link)

3. OKX: Nansen Data Confirms $6 Billion in Assets, Only a Portion of Reserves

OKX tweeted that the team is working with Nansen to create a dashboard to verify part of its reserves and wallet addresses. The dashboard shows that OKX's largest asset allocation includes approximately 89,000 BTC, about 1 million ETH, and fiat-backed stablecoins, totaling around $6 billion. The wallet addresses indicate that most assets have not moved for several months.

OKX also stated that it will not lend customer assets, and the portfolio in this dashboard only represents a portion of its reserves. In the coming weeks, it will also execute a proof of reserves with third-party auditors. (Source link)

4. Crypto Platform Bybit Announces Its Reserve Assets

Crypto platform Bybit today announced its reserve assets in collaboration with Nansen. The data shows that Bybit's total reserve assets are valued at approximately $1.9 billion, with USDT being the highest valued asset; stablecoin assets, including USDT and USDC, account for 54.10%; BTC (21.52%) and ETH (11.10%) together account for 32.62%; BIT reserves rank fifth, accounting for 4.99%.

Bybit CEO Ben Zhou stated, "We are exploring new custody solutions that allow users to view their on-chain balances or third-party custody. Bybit guarantees a 1:1 reserve for all users, and Bybit will ensure that all user withdrawals are processed promptly during this special period." (Source link)

5. Huobi Announces 17 New Senior Executives, Reporting to Advisors like Justin Sun

According to Wu Blockchain, an internal email from Huobi shows that the Huobi advisory committee has made organizational adjustments, with nearly all department heads being replaced. All newly appointed department heads report to the global advisory committee represented by Justin Sun.

It is reported that some of the new leaders are former employees of TRON. The departments defined by Huobi include: spot, contracts, fiat, assets, DEX, NFT, liquidity, PR, finance, securities, risk control, auditing, international, procurement, HR, GR, etc.

Previously, former Huobi CEO Zhu Hua has officially left, and former Huobi PR/GR head Chen Dai also bid farewell to Huobi on social media. On November 4, former Huobi CFO Zhang Li left. The team led by Sun Yuchen has now fully taken over Huobi's operations. (Source link)

6. Wall Street Journal: BlockFi Plans to File for Bankruptcy Protection
According to a report by the Wall Street Journal citing insiders, affected by the FTX incident, crypto lending company BlockFi is currently preparing to lay off employees and may plan to file for bankruptcy protection. Previously, BlockFi announced significant risk exposure to FTX and related companies, suspended withdrawal operations, and hired external expert consultants to make further arrangements. (Wall Street Journal)

7. CZ: Binance Obtains Financial Services License in Abu Dhabi

Binance founder Changpeng Zhao (CZ) announced that Binance has obtained a financial services license (FSP) from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA), which will enable Binance to provide custody services for professional clients.

"We look forward to and support Binance's operations and R&D in ADGM, developing solutions for the Web 3.0 economy," said ADGM Chairman Ahmed Jasim Al Zaabi.
It is reported that in April this year, Binance received in-principle approval (IPA) from ADGM regulators to operate as a virtual asset broker-dealer. (Source link)

"What Interesting Articles Are Worth Reading in the Last 24 Hours"

1. How is Solana Coping with Internal and External Challenges After Being Stuck in the FTX Predicament?

Solana has faced numerous challenges this year: the crypto winter, ongoing outages, unprecedented large-scale attacks on ecosystem projects, and direct competition from new blockchains Aptos and Sui. Additionally, it has been criticized as a "VC chain" propped up by capital from a16z, Polychain, FTX Venture, Jump Crypto, and others. Amid internal and external pressures, coupled with the secondary crisis brought about by the FTX collapse, can the beleaguered Solana ecosystem withstand this unprecedented "stress test"?

2. The Block Researcher: It's Time to Reflect on the Capital Allocation Chaos in the Crypto Industry

October has been the lowest month for financing since February 21, occurring before the recent turmoil in the industry. The upcoming months will help us better understand which companies in the crypto industry are prepared for the long winter and which companies are still fantasizing about an environment of "only up, no down" and doing nothing.

What lessons should we learn from the recent negative events? It's time to say less nonsense, to show sincerity, to improve, to self-reflect and adjust, and to be transparent.

3. What Exactly Happened at Alameda Research?

The New York Times published a "whitewashing" article about SBF, which has drawn rebuttals from insiders. This article will explore the FTX incident from the perspective of Alameda Research, and how SBF, Sam Trabucco (former co-CEO of Alameda Research), and Caroline Ellison (current co-CEO of Alameda Research) burned over $20 billion in fund profits and FTX user deposits.