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This Week in the News - December 5th

  1. Nexo Crypto Lending Platform To Cease US Operations– Lending platforms have struggled to achieve regulatory clarity in the US, and Nexo has had enough. (source)

  2. TIMEX Launches $2,500 Bored Ape Watches and Matching NFTs– The luxury watchmaker unveiled a line of 500 one-of-one customizable timepieces. (source)

  3. FTX Contagion Spreads as Orthogonal Trading Gets Default Notice for $36M Debt on Maple Finance– Creditor M11 Credit issued a default notice to Orthogonal Trading for $36 million of loans, while Maple Finance severed all ties with Orthogonal for misrepresenting its financial position. (source)

  4. USDC issuer Circle terminates SPAC merger with Concord– The deal previously valued Circle at $4.5 billion in July 2021 before an upward revision to $9 billion in February 2022. (source)

  5. Bankman-Fried Puts Off House Testimony on FTX– The now disgraced founder of FTX has been on a media blitz, but said he would appear before a House committee hearing only after he’s got all his facts straight. (source)

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