• BUSD, the third-largest stablecoin by market cap, quickly dropped to a low of 20 cents against DAI on Wednesday morning due to a large sell order. • The plunge

Summary: • FTX company insiders, including Sam Bankman-Fried, have been served subpoenas by bankruptcy administrators as the firm’s new leadership tries to reclaim $400 million from a hedge fund investment.

• Bitcoin’s HODL Waves indicator shows that the percentage of unspent transaction outputs (UTXO) older than five years has increased by 17% in the past six months. • This indicates