In case you missed out: top crypto and Web3 news for November 11 in brief

As expected, FTX and Alameda proved to be only the starting point of a winding road of machinations, deceptions, and downslides. The story of the ruined Sam Bankman-Fried`s empire will drag on for a long time, revealing more shocking details. However, the crypto world will come to its senses sooner or later. That’s why things don’t stop with FTX alone. There are other important news!

Bye, FTX & SBF

FTX, Alameda, and 130 other affiliates are starting Chapter 11 bankruptcy and reorganization proceedings, and the companies and tokens in which they invest are also on the verge of liquidation. Here’s the list. Ah, yes. Sam Bankman-Fried has resigned as CEO. 

Another unprotected project

Stablecoin-focused, Ethereum-based decentralized exchange, DFX Finance, lost about $7.5 million in a digital asset hack. According to PeckShield, that break-in was made possible “due to the lack of proper reentrancy protection.”

Airdrop contest by ClubRare

The first full-stack physical NFT marketplace called ClubRare announced a contest on the eve of the launch of Beta 2. It will give away $100,000 worth of tokens to the first community members. Here are more details.

To participate in this competition, users need to provide liquidity to Club Rare Uniswap tokens. After the contest, ClubRare will also hold a so-called ClubRare Partner Day, which will be held both in the Metaconset and physically in New York City.

Shell goes crypto

Major oil and gas company Shell will offer bitcoin (BTC) miners its lubrication and cooling solutions. The giant will sponsor the 2023 and 2024 bitcoin conferences. An agreement has been signed with Bitcoin Magazine, the organizer of the events.