What up fellow HODLers, CoinMarketCap here! We know the endless hacks make you wanna rage quit the markets lately. But remember, some billionaires are going bullish on Bitcoin!
So, here we are to keep you informed on all those top crypto stories!
But before we dive into the details, here's a quick TLDR rundown of the key news stories:
Unibot token price crashes 30% following the exploit
UK government reveals final proposal for UK crypto-asset regulations
Sam Bankman-Fried's memory falters during testimony: “I don't recall”
Retail e-HKD CBDC could “add unique value,” according to Hong Kong Monetary Authority
Billionaire investor Stanley Druckenmiller: “I don’t own any Bitcoin to be frank, but I should”
Avalanche blockchain explorer SnowTrace to shut down Etherscan-powered website
Now let's dive deeper into each of these crypto stories!
Looks like web3 hacking is back in action! Unibot got taken for a ride when some hacker used a call injection attack to drain over 600 grand worth of tokens from connected wallets.
Prices for Unibot's token took a big fat dive afterwards, plunging over 30%. But hey, maybe getting hacked will be good marketing for them! Nothing gets the people talking like a good crypto crime.
Will Unibot be able to compensate its users? Read the full story!
The UK government wants to round up all the crypto critters and put them under the watchful eye of regulators. They're starting with stapling a "regulated" tag on any stablecoins that want to play in their pen.
And they're making crypto exchanges come running whenever regulators whistle. Those DeFi degens better watch out too, because regulators have got their lasso ready once they figure out how to rein them in.
Innovation is fun until the regulator shows up to lay down the law! Here are some details on how it will regulate the DeFi space too!
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Sam Bankman-Fried seems to be suffering a bad case of amnesia about his time as FTX’s CEO. When grilled about the FTX fiasco, he just kept saying "I don't recall.”
Misplacing billions in customer funds seems like the kind of thing you'd probably remember! Unless getting grilled about fraud makes SBF suddenly empty his memory vaults.
Bankman-Fried claims FTX failed due to market conditions and startup mistakes. He also revealed plans to eventually sell FTX to a rival exchange. But his spotty memory under oath seems rather questionable for someone who lost billions in client money.
