FTX sister firm Alameda paid $11.5M for control of a small WA-based US-licensed bank, raising questions about why federal regulators approved the deal (Stephen Gandel/New York Times)

Ryan Browne / CNBC:
Crypto lender Nexo buys a stake in the parent of Summit National Bank, a US regulated bank, paving the way for it to offer US licensed banking services  —  – Cryptocurrency lender Nexo said it has agreed to buy an undisclosed stake in Hulett Bancorp, which owns a little-known bank called Summit National Bank.

Kate Clark / The Information:
SBF quietly invested $500M+ in Paradigm, Altimeter, and other VCs, including, sources say a $200M commitment to Sequoia, and $300M to K5 per PitchBook  —  FTX founder Sam Bankman-Fried was not only a tireless fundraiser from venture capital firms including Paradigm and Sequoia Capital …

Wall Street Journal:
Sources: Alameda CEO Caroline Ellison told staff on November 9 that she, SBF, and two FTX executives were aware that FTX lent its customers’ money to Alameda  —  Trading firm Alameda’s troubles helped lead to the bankruptcy of crypto exchange FTX  —  Alameda Research’s chief executive …

Nansen:
An in-depth look at FTX and Alameda shows UST’s collapse in May increased their reliance on FTT, leading to $4B outflows from Alameda to FTX in June and July  —  mins  —  Nansen’s research team dives into the collapse of Alameda and FTX using blockchain analytics  —  Key Takeaways

Kari McMahon / The Block:
London-based Archax, the UK’s only digital asset exchange licensed by the Financial Conduct Authority, raised a $28.5M Series A led by investment firm abrdn  —  Archax, the UK’s only digital asset exchange to be licensed by the Financial Conduct Authority, has raised $28.5 million in a Series A fundraising round.

Jennifer Korn / CNN:
Researchers submitted 20 ads with “blatant” voting misinfo and TikTok approved 90% of them, Facebook approved a “significant number”, YouTube approved none  —  New York CNN Business —  Facebook and TikTok failed to block advertisements with “blatant” …