Bankman-Fried’s trading firm, Alameda Research, which had close ties with his crypto exchange FTX and which shut down this week, invested at least $20 million in Paradigm last year, according to two people with direct knowledge of the matter.

California's Department of Financial Protection and Innovation announced it was investigating FTX late Thursday. The regulator did not provide much detail in a press release, only saying it was "investigating the apparent failure of crypto asset platform FTX." A spokesperson declined to comment further.

Employees working for the U.S. arm of FTX's cryptocurrency exchange business are trying to sell company assets, in some cases without CEO Sam Bankman-Fried's “participation,” according to Bloomberg News, which cited two people familiar with the matter.

The wallet that Binance’s FTX tokens were transferred into still has 17 million FTT, worth approximately <a href="https://etherscan.io/token/0x50d1c9771902476076ecfc8b2a83ad6b9355a4c9?a=0x28c6c06298d514db089934071355e5743bf21d60" target="_blank">$65 million</a> at the time of writing, according to Etherscan. Binance’s position represents a 5% stake in the total FTT supply.&nbsp;

Deep dive into the latest developments of the FTX collapse, by analysing all the verifiable information, and related events that have come out since the initial collapse.

Chainlink Labs offered its Proof of Reserve product as a solution to future trust issues in the crypto exchange market on Nov. 10. In a tweet thread, Chainlink Labs <a href="https://twitter.com/chainlink/status/1590805758643519488" target="_blank">asked</a>&nbsp;“Will crypto continue to repeat the mistakes of the traditional black-box financial industry? Or will a better system emerge?”

Crises also bring opportunities. As we can expect more price turbulences in the coming weeks, now is a good time to plan your next steps.

Bryan Pellegrino, Co-Founder and CEO of LayerZero Labs, announced LayerZero is willing to follow Tron’s step and accept STG balances in FTX at a rate of 1:1 (STG basis) to the underlying STG, with a cap of 50k STG(roughly 2.8 million) in total. Its goal is to “help as many people get something out as possible”.

Cryptocurrencies risk harming everyday Americans without proper oversight and the latest news involving crypto underscores these concerns, White House press secretary Karine Jean-Pierre said on Thursday.

Investment banking company Jefferies Group’s CEO, Richard “Rich” Handler, took to Twitter to reveal that he unsuccessfully tried to get in touch with FTX CEO Sam Bankman-Fried earlier this year when the latter was offering bailouts to several troubled firms.