In case you missed out: top crypto and Web3 news for November 8 in brief

Today was (as usual) a very busy day in the world of cryptocurrencies and Web3. Investors and analysts are watching with open mouths the continuation of two important stories: LBRY vs SEC and whether FTT will turn into LUNA 2.0.

The rest of the news is just as intriguing, but more positive.

Emergence of BMEX 

Cryptocurrency exchange and derivatives trading platform BitMEX announced the launch of its own token. Owning and betting on BMEX will unlock discounts on trading fees, staking rewards, waiver of withdrawal fees, and exclusive VIP privileges on and off the BitMEX platform.

📣Are you ready for the launch of $BMEX?

If you haven’t yet staked your BMEX, you can do so now via your Wallet to enjoy:

✅Withdrawal/network fee refunds
✅Trading discounts
✅Staking rewards
…and more.

Know more👇https://t.co/4fYHvlOpBa pic.twitter.com/X29PShNm0L

— BitMEX (@BitMEX) November 8, 2022

Falls one after another

The BitDAO token (BIT) fell 20% within an hour, and FTT also fell 20%. The price of both has now stabilized slightly and is $0.3726 and $15.21, respectively.

In 2021, Alameda Research converted 3.36 million FTT (1% of total volume) into 100 million BIT (1% of total volume), but the parties promised not to sell the coins for 3 years.

1/2 Community update on BIP-4: the 100M $BIT has been transferred to the original BIP-4 swap wallet https://t.co/72FBhGieKY.

Thanks @AlamedaResearch @carolinecapital for the prompt response.

— BitDAO (@BitDAO_Official) November 8, 2022

More Web3 games!

Prominent South Korean developer and publisher NCSoft (creator of Lineage, Guild Wars и Blade & Soul videogames) contributed to a recent $300 million Series B funding round for Mysten Labs, creator of the nascent Sui blockchain. Both companies will collaborate on future Web3 projects. NCSOFT invests $15 million in Mysten.

And…

Gaming company Eterlast has raised $4.5 million to offer Web3 games to sports fans. The round was led by Supernode Global and included investors such as Immutable X, Stake Capital, and Founders Factory. The startup separated from Founders Factory Venture Studios. 

📢 We have great news everyone! @eterlast has fundraised $4.5M to build the next-generation of sports gaming experiences 🚀

Massive thank you to our investors, advisors, friends and supporters!

Read more https://t.co/yoQpYP2H86#web3 #blockchain

— eterlast (@eterlast) November 8, 2022

FTX halts withdrawals?

Cryptocurrency exchange FTX appears to have stopped processing withdrawal requests. The last outgoing transaction from FTX took place at 10:59 a.m. ET, according to Etherscan. The address withdrew $963.575938 worth of Compound tokens (COMP).