Hello, ApolloXplorer!Have you seen today’s key headlines yet?<h2 id="header-0">#1. BlockFi files for bankruptcy</h2>Crypto lender BlockFi filed for bankruptcy protection Monday.The company said it was filing for Chapter 11 bankruptcy protection, hoping to restructure.According to a press release, BlockFi has about $257 million in cash on hand. BlockFi's executives estimate the company has more than 100,000 creditors, the largest being a $730 million unsecured claim.Source: <a href="https://www.coindesk.com/policy/2022/11/28/ftx-fallout-continues-as-crypto-lender-blockfi-declares-bankruptcy/" rel="noopener noreferrer nofollow">CoinDesk</a><h2 id="header-1">#2. FTX resumes employee payments</h2>FTX announced that it would resume "ordinary course payments" of salary and benefits to employees worldwide and certain contractors.This comes after FTX's legal counsel filed a motion to pay compensation, benefits, and relief to its employees and vendors.FTX said that the company would not pay anything to Sam Bankman-Fried, Gary Wang, Nishad Singh, Caroline Ellison, or "any who have a familial relationship."Source: <a href="https://decrypt.co/115819/ftx-resumes-post-bankruptcy-payments-to-employees" rel="noopener noreferrer nofollow">Decrypt</a><h2 id="header-2">#3. MakerDAO rejects CoinShares proposal</h2>The MakerDAO community rejected a proposal to use up to $500 million of USDC to invest in bonds with crypto investment firm CoinShares.CoinShares had proposed to actively invest the money in a portfolio of corporate debt securities and government-backed bonds, aiming to return a 3.8% yield.72% of votes were cast against the proposal. CoinShares said recent turmoil in crypto markets was the primary reason for the rejection.Source: <a href="https://www.coindesk.com/markets/2022/11/28/makerdao-community-rejects-coinshares-proposal-to-invest-up-to-500m-in-bonds/" rel="noopener noreferrer nofollow">CoinDesk</a><h2 id="header-3">#4. Compound to impose lending caps</h2>DeFi lending platform Compound Finance has passed a proposal to restrict the maximum borrowing of 10 tokens on the protocol.The proposal was put forth by Gauntlet and passed by majority vote. UNI, COMP and other altcoins had their borrow limits slashed. WBTC, which had no borrow limit, now has a lending ceiling.According to Gauntlet, the proposal would prevent risks including "insolvency risk from liquidation cascades” and "price manipulation Mango squeeze exploits”.Source: <a href="https://cointelegraph.com/news/compound-finance-to-impose-lending-caps-in-light-of-failed-aave-exploit" rel="noopener noreferrer nofollow">Cointelegraph</a><h2 id="header-4">#5. Silvergate claims minimal exposure to BlockFi</h2>Institutional crypto services provider Silvergate Capital confirmed its minimal exposure to BlockFi.It announced that its deposit relationship with BlockFi is “limited to less than $20 million of its total deposits from all digital asset customers,” which totaled $13.2 billion in Q3.It added that BlockFi was not a custodian for its Bitcoin-collateralized leverage loans and the firm has no investments in BlockFi.Source: <a href="https://cointelegraph.com/news/silvergate-denies-recent-fud-confirms-minimal-exposure-to-blockfi" rel="noopener noreferrer nofollow">Cointelegraph</a>--The ApolloX app is available on Apple Store or Google Play <a href="https://apollox.onelink.me/rf4R/newscryptowndl" rel="noopener noreferrer nofollow">here</a>.Stay up to date with ApolloX!<a href="https://t.me/apollox_com" rel="noopener noreferrer nofollow">Telegram</a> |<a href="https://twitter.com/ApolloX_com" rel="noopener noreferrer nofollow"> Twitter</a> |<a href="https://www.facebook.com/ApolloXcom" rel="noopener noreferrer nofollow"> Facebook</a> |<a href="https://www.instagram.com/apollox_com/" rel="noopener noreferrer nofollow"> Instagram</a> | <a href="https://apollox.link/blog-discord" rel="noopener noreferrer nofollow">Discord</a> | <a href="https://apollox.link/blog-APXNewsStation" rel="noopener noreferrer nofollow">ApolloX News Station</a> | <a href="https://coinmarketcap.com/community/profile/ApolloX" rel="noopener noreferrer nofollow">CMC</a>

Crypto News of the Day: FTX to resume paying employee salaries, Compound to impose lending caps

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