Binance and Huobi block deposits of FTX’s native token, FTT, after 192M tokens worth ~$400M were released out of schedule and without warning (Shaurya Malwa/CoinDesk)

Helene Braun / CoinDesk:
Signature Bank plans to reduce its crypto-tied deposits by $8B-$10B to under 15%; as of September 2022, ~23.5% of the bank’s $103B deposits came from crypto  —  Nearly a quarter of the Wall Street bank’s current deposits come from crypto-related businesses.

CoinDesk:
Binance CEO Changpeng Zhao plans to sell the remaining FTT tokens taken on from exiting FTX’s Alameda in 2021; Binance received ~$2.1B from the previous sale  —  Alameda’s CEO offered to buy Binance’s FTT token holdings for $22 apiece.  —  Binance’s CEO, responding to a CoinDesk scoop …

Danny Nelson / CoinDesk:
Huobi, a top-10 crypto exchange by trading volume, has agreed to be acquired by Hong Kong-based About Capital; terms of the deal were not disclosed  —  The terms of the deal were not disclosed.  —  Crypto exchange Huobi Global, one of the biggest token trading outposts in the Asia markets …

Sam Reynolds / CoinDesk:
Binance announces a recovery fund to help “otherwise strong” projects facing a liquidity crisis; Justin Sun says Tron, Huobi, and Poloniex will support Binance  —  Tron founder Justin Sun said that Tron, Huobi Global and Poloniex will support Binance in its initiative.

Shaurya Malwa / CoinDesk:
Facing a large deficit in its treasury, DeFi protocol Sushi proposes diverting fees from the Kanpai protocol and reduces its runway requirement from $9M to $5M  —  Developers proposed to divert 100% of fees generated on the platform to Sushi’s multisig for one year or until new tokenomics are implemented.

Shaurya Malwa / CoinDesk:
FTX US General Counsel says the exchange has moved remaining funds to cold wallets to “mitigate damage” following a series of “unauthorized transactions”  —  Millions of dollars started to mysteriously move from FTX late Friday U.S. hours.