Orthogonal Trading defaults on eight loans to lending protocol Maple Finance totaling $36M, or ~30% of active loans on the protocol, likely due to FTX exposure (Tim Copeland/The Block)

Krisztian Sandor / CoinDesk:
A look at what went wrong at decentralized lending protocol Maple Finance, as $54M in loans, or 66% of its lending pools, turn bad and what could happen next  —  Maple Finance, the largest unsecured crypto lending platform, is grappling with a debt crisis while gearing up for a major system upgrade.

Nelson Wang / CoinDesk:
Genesis’ crypto lending unit, which had $2.8B in active loans in Q3, suspends redemptions and new loan originations; trading and custody units are unaffected  —  The unit, known as Genesis Global Capital, serves an institutional client base and had $2.8 billion in total active loans as of the end of the third quarter of 2022.

Kyle Wiggers / TechCrunch:
RisingWave Labs, which is developing a data stream processing service, raised a $36M Series A led by Yunqi Partners, bringing its total funding to $40M+  —  RisingWave Labs, a company developing a platform for data stream processing, today announced that it raised $36 million in a Series …

Kyle Wiggers / TechCrunch:
New York City-based Knoetic, which provides analytics tools to HR departments, has raised a $36M Series B led by EQT Ventures  —  In the last decade, so-called chief people officers (CPO) have seen a dramatic expansion of their day-to-day responsibilities.  The role has evolved …

Dan Primack / Axios:
Sequoia tells investors it is marking down its FTX investment, totaling $213.5M across two funds, to zero dollars, saying it “ran a rigorous diligence process”  —  – Its $150 million of exposure to both FTX and FTX.US in its third global growth fund represents less than 3% of that fund’s total capital commitment.

CoinDesk:
FTX US general counsel says he is investigating “abnormalities with wallet movements” after $380M+ in crypto left FTX and FTX US wallets on November 11  —  The lack of an official statement from FTX has led to speculation that the funds have been stolen by insiders or hackers.