Blockchangers Blog

Weekly Wrap Up #67

Quote of the week: “Voters are very pro-technology, pro-innovation and they […] might not know the specifics of crypto legislation or tech legislation writ large, but they do have kind of an intuitive sense of […] what policy thinking that moves in the direction of embracing technology and innovation would look like.” – Martin Dobelle, one of the three co-founders of political software company Engage. Source:


Alpha Sigma Capital’s CEO, Enzo Villani, addresses FTX’s collapse in his letter to LPs and research subscribers. 

Alpha Sigma Capital Research launches “Ask Me Anything” Series with our first guest James Haft, Chairman, DLTx, and Simon Campbell, COO, DLTx on November 10, 2022.

A Clash Between Billionaires: Binance Agrees to Acquire FTX:  On November 8, Binance founder Changpeng Zhao (“CZ”) and FTX founder Sam Bankman-Fried announced the deal on Twitter that Binance agreed to acquire rival FTX after the exchange supposedly faced a liquidity crunch. The terms of the deal were not disclosed. Mr. Bankman-Fried stated in a tweet, “things have come full circle, and’s first, and last, investors are the same: we have come to an agreement on a strategic transaction with Binance for (pending DD etc.)…” Source: Wall St. Journal

Binance Pulls Out of FTX Deal:   Less than 48 hours after Binance signed a non-binding deal with FTX, the company announced its decision to not pursue the potential acquisition. A series of tweets by Binance stated that its decision was based on “reports regarding mishandled customer funds and alleged US agency investigations.” Source: Cointelegraph

The FTX Saga: The crypto markets are experiencing turmoil, which was in part caused by the news surrounding FTX and its liquidity crunch. Since Binance pulled out of the deal on November 9, the cryptocurrency markets responded and investor sentiment turned fearful; Bitcoin’s price dropped to a multi-year low of $15,600. Sam Bankman-Fried, head of FTX, reportedly asked investors for $8 billion in emergency funding to cover the “liquidity crunch.” Mr. Bankman-Fried was seeking to raise up to $4 billion from investors and said that he would cover the remaining amount with debt financing and his own personal fortune. On the same day, FTX’s website went down for two hours and when it was brought back online it came with a warning strongly advising against depositing and stating that the exchange was unable to process withdrawals. Source:  Cointelegraph

United States DOJ Seizes $3.36 Billion of Bitcoin:  The United States Department of Justice announced that law enforcement seized $3.36 billion of bitcoin that was stolen from the Silk Road online marketplace over a decade ago. This is the second-largest seizure in United States’ DOJ history.  Source:  CNBC

JPMorgan Executed its First DeFi Trade on a Public Blockchain: In the first week of November, the markets saw the institutionalization of DeFi markets; international banks and financial institutions, including JP Morgan and DBS Bank, executed their first DeFi transactions. Source: Cointelegraph

Gryphon Digital Mining, Inc. Update:  Gryphon Digital Mining, Inc., a leading net carbon-neutral bitcoin miner, continues to lead the way in operational efficiency. For the month of September, for instance, the company mined approximately 80 bitcoin-equivalent coins from its self-mining operations with an average hashing power of 656 PH/s. For the month of September, the company’s bitcoin efficiency rating was 122BTC/EH. The company’s production results placed it first among a peer group of companies. Source: Gryphon Digital Mining 

Fair Disclosure: Alpha Sigma Capital Fund LP is an investor in Gryphon Digital Mining. 

And, that’s a wrap!

Jordana Cohen,


Alpha Sigma Capital

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Daniel Siciliano

F. Daniel Siciliano is an Independent Director of the Federal Home Loan Bank of San Francisco and Chair of the American Immigration Council. He is the former faculty director of the Rock Center for Corporate Governance at Stanford University and former Professor of the Practice and Associate Dean at Stanford Law School. His work has included expert testimony in front of both the U.S. Senate and the House of Representatives and for 2009, 2010, and 2011, alongside leading academics and business leaders such as Ben Bernanke, Paul Krugman, and Carl Icahn, Professor Siciliano was named to the “Directorship 100” – a list of the most influential people in corporate governance.

Siciliano was also co-founder, CEO and ultimately Executive Chairman of LawLogix Group, Inc. – a global software technology company named 9 consecutive times to the Inc. 500/5000, several times ranked as one of the Top 100 fastest-growing private software companies in the US and named to the US Hispanic Business 500 (largest) and Hispanic Business 100 (fastest growing) lists for 2010 and 2011. In 2012 he sold a majority stake of the company to PNC Riverarch Capital, continued as Executive Chairman, and led the sale of the company to Hyland Software/Thoma Bravo in 2015.

Siciliano is a co-founder and board member of the Silicon Valley Directors’ Exchange (SVDX), Chairman of the national non-partisan American Immigration Council, past-President of the League of United Latin American Citizens (LULAC) Council #1057, and an active member of the Latino Corporate Directors’ Association.

Siciliano’s related areas of expertise include executive compensation, corporate compliance, the legal and social impact of autonomous (AI/robotic) systems, and corporate technology strategy and security. He has served as a governance consultant and trainer to the Board of Directors of dozens of Fortune 1000 companies (including Google, Microsoft, Fedex, Disney, Entergy and Applied Materials), is an angel investor and consultant to several firms and companies in Silicon Valley, Hong Kong, India, and Latin America, and currently serves as an independent director on the board of the Federal Home Loan Bank of San Francisco. He lives in Los Altos, California.