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Crypto Civil War?

Binance’s CZ and FTX’s SBF may have started a crypto civil war between the two exchanges, we’ll look at that fiasco today. Additionally, Google ($GOOG) Cloud Tweeted they are now a validator for Solana ($SOL.X). Finally, we’ll take a look at the staking rewards rates for the top ten cryptocurrencies by market cap. 

And on a worrisome note, LBRY lost its case against the SEC. A judge ruled that LBRY sold its $LBC.X tokens as unregistered securities. Fears that this may become a precedent and will affect the Ripple ($XRP.X) vs. SEC case are now very real. We’ll have more about this on Wednesday. 

Polygon ($MATIC.X) is today’s big leader, outperforming its peers again. It’s now up nearly +42% since November 1. Mixed performance across the board today, and that is reflected very clearly in how the Altcoin Market Cap has performed vs. the Total Market Cap. 

Here’s how the market looked at the end of the trading day:

Polygon (MATIC)
Polkadot (DOT) $7.29 7.10%
Algorand (ALGO) $0.43 6.71%
Chainlink (LINK)
Ethereum Classic (ETC)
Cardano (ADA) $0.41 1.94%
Avalanche (AVAX) $18.54 1.59%
Ethereum (ETH)
Bitcoin Cash (BCH)
Stellar (XLM)
Altcoin Market Cap
$585 Billion
Total Market Cap $983 Billion 0.12%


CZ vs. SBF

CZ vs. SBF Featured Image

Holy hand grenade of Antioch, the crypto world was just hit with a bombshell over the weekend. Essentially a Tweet battle between Binance CEO Changpeng Zhao (CZ) and FTX CEO Sam Bankman-Fried (SBF). Read CZ’s Tweet thread for yourself:

And the drama continued.

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Google Joins The Solana Club Featured Image

If there’s a cryptocurrency out there that must have a guardian angel or an entity with really, really deep pockets to protect it, it has to be Solana ($SOL.X). If Solana was a vehicle, it’s about as reliable as a 1990’s Ford Explorer or any 3500 Dodge Ram. 

Solana launched in 2020, and like the launch of 2016’s spectacular bomb No Man’s Sky (which is really freaking awesome now), it has been a huge mess. Solana has had 10 to 11 major outages that have resulted in either partial downtimes or total outages. 

To make matters worse, the Ethereum-killer and ‘censorship-resilient network’ lost one of its major cloud providers: Hetzner. Hetzner hosted a good chunk of Solana’s nodes. So if they’re turned off, what kind of impact would that have? A big one. 

Hetzner’s ban and subsequent shutdown of Solana’s nodes last week resulted in 40% of all nodes going offline and effectively taking down 20% of the network. From a price action perspective, either no one cared, or no one was worried. 

Then, on Saturday, the Google ($GOOG) Cloud Twitter account posted this message publicly to Solana’s head honcho:

Long story short, Google Cloud announced they are now, officially, a block-producing validator for Solana’s network. 

The table below is the current (November 7, 2022) staking yield rates of the top ten cryptocurrencies by their market cap. Not all cryptocurrencies have a staking mechanism on their networks, so, for example, you don’t see Bitcoin ($BTC.X) listed. 

Staked % is what percent of the total supply of that cryptocurrency is currently used to earn staking rewards. Sometimes called ‘Locked Up.’

The Lock-Up Period is how long crypto must stay staked before you can withdraw it and/or any rewards earned. 

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Bullets From The Day:

🛣️ Polygon ($MATIC.X) has been when one of the few high market cap cryptocurrencies that has consistent bullish (well, as consistent in the crypto space as you can be) price action. From a fundamentals perspective, Polygon is actively partnering with some big names to provide Web3 and/or NFT services. Some of those companies in include Walt Disney ($DIS), Adobe ($ADBE), Draft Kings ($DKNG), the NFL, and now Meta ($META). Get full list and breakdown from the Blockchain Council

🛣️ Remember Silk Road? In the early days of Bitcoin ($BTC.X), it was questionable whether Bitcoin could survive the media’s and lawmakers’ opinion that Bitcoin was just a way to launder money and buy illegal goods. Fast forward from 2012 to today – the U.S. Justice Department and Internal Revenue Service seized 50,000 Bitcoin from a hack made on Silk Road by James Zhong – who just pled guilty on Friday, November 4, 2022. The seizure is the second largest in the U.S. Justice Department’s history. Full press release from

📋 Many crypto assets have been or are soon to be delisted on some big-name exchanges. drops Osmosis ($OSMO.X) and Ribbon Finance ($RBN.X). FTX delists Mask Network ($MASK.X) and Tortuga Stake Aptos (tAPT). Kraken, KuCoin and Poloniex are dumping Hashflow (HFT). KuCoin is also delisting XCarnivalX (XCV) and Eco (ECOx). CryptoNews has a full list of exchanges and their delistings