Crypto NFT Today: The Latest News in Blockchain, Cryptocurrency and NFTs: Nov. 9-15, 2022

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Welcome to another edition of Crypto NFT Today! If you like cryptocurrency, NFTs and riding emotional roller coasters, this is the place to be.

Are you ready for the crunch? Let’s get started.

The FTX token is plummeting

The FTT token value fell 20% on Tuesday following a report last week that Alameda Research may be in financial trouble. Alameda is a trading company owned by Sam Bankman-Fried – who also owns the FTX exchange platform. Alameda is considered a crypto whale and has placed much of its wealth in FTT, FTX’s internal token.

Data from CoinGlass shows that short bets continue to build on FTT, as open interest in the crypto derivatives market has risen 8% in the last hour to a total of $215 million.

FTT is currently trading up 19% to $17.93. SOL is down 17% and Serum’s SRM token is down 10%. The action spills over into bitcoin (BTC), which is down 5.6% to $19,650.

Press release: World Crypto Conference 2023

One of Europe’s most exciting blockchain conferences — the World Crypto Conference 2023 — held from Jan. 13 to 15 in Switzerland, the global center of traditional finance and one of the world’s most crypto-friendly countries.

Fittingly, WCC2023 takes place just before the annual World Economic Forum in Davos. Delegates to both events will discuss the economic and social impact of technology, and in particular the transition to Web3.

The specific goal of WCC2023 is to bridge the gap between the traditional world of finance and business (TradFi) and the crypto world. It also aims to facilitate the mass adoption of cryptoassets and the creation of sustainable, fast and secure financial systems. It will encourage collaboration and networking between TradFi and DeFi companies and connect traditional IT companies with Web3.

The timing of the event could not be better as it coincides with several TradFi institutions moving towards blockchain solutions.

Polygon emerges as Top Web3 Blockchain

Polygon blockchain emerges as the top web3 blockchain. According to a recent Bernstein research report, the popular blockchain is the leading gateway to move Web2 consumers to Web3.

The system has been chosen by Starbucks, NuBank, Reddit, DraftKings, Robinhood Markets and Instagram.

Polygon’s original cryptocurrency, MATIC, rose 30% in two days last week after Meta said it would introduce a toolset that allows Instagram users to stamp and sell the Polygon drive non-fungible tokens (NFTs).

The Web3 and Blockchain Conference focuses on supporting indigenous communities

That Web3 and Blockchain World conference on November 8 and 9 in Toronto is working hard for a diverse program that supports human rights and progress.

Income from W3B Awards Gala on Nov. 8 will support Fraser Region Aboriginal Friendship Center Association (FRAFCA) with an NFT Art Education program. FRAFCA’s mission is to promote the health and well-being of Indigenous urban populations in the Fraser Salish region by providing culturally relevant services, support and advocacy. The NFT Art Education program will be delivered by Tamara Goddard, CEO and Founder of Fire our future indigenous economy and co-founder of 400 drumsThis program will enable members of the FRAFCA community to harness the power of Web3 and NFTs to keep indigenous cultures and learning alive.

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