😲 Solana DEX Hacked For $2.2m

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Markets

This Week in Coins: Bitcoin and Ethereum Fall With Stocks, Dogecoin Dives 20% (6 minute read)Bitcoin (BTC) and Ethereum (ETH) moved in lockstep with Wall Street this week - At its high point on Wednesday prior to the Fed’s meeting, BTC bounced above $18,000 for the first time since FTX’s collapse. As of Saturday morning, Bitcoin was down 2.6% over the past seven days, while Ethereum fared worse, down 6.6% in that period.

Imprisoned Sam Bankman-Fried May Relent in Extradition Fight (5 minute read)Days after being widely reported as being "in good spirits" at Fox Hill prison, disgraced FTX founder Sam-Bankman Fried is expected to reverse course on plans to fight extradition from The Bahamas.

2022 – Crypto Markets: A Year in Review (7 minute read)It’s no secret that 2022 has been a difficult year for global markets. The economic situation leading into 2022 allowed crypto to shine. Record low interest rates, an expanding money supply and a strong economy all set the stage for record growth, both in price and adoption, in the crypto economy.

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Web3: DeFi & NFTs

Solana DEX Raydium Hacked for $2.2M (5 minute read)Raydium, a decentralized exchange on the Solana blockchain, was exploited Friday morning for more than $2M. Raydium is the second largest DEX on Solana, with more than $36M in total value locked, according to Defi Llama. According to crypto wallet tracking platform Nansen, the attacker made off with $2.2M in tokens, most of which was Solana’s SOL token.

Trump NFT Prices Nosedive, Then Soar, as SNL Skewers Them (5 minute read)The collection spiked in trading volume after it launched on Thursday, to 5,548 ETH or over $6.5 million as of Sunday morning, according to OpenSea. The project currently sits on OpenSea’s homepage as the top-trending project. However, the price has been turbulent over the past day. The project’s floor price peaked around 0.84 ETH or around $990 on Saturday before plunging as low as 0.32 ETH or roughly $376 by early Sunday morning.

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Misc

Co-Founder of OneCoin Pyramid Scheme Pleads Guilty; ‘CryptoQueen’ Still Wanted (5 minute read)One of the founders behind OneCoin pleaded guilty to federal U.S. charges on Friday after one of the largest financial scams of all time, according to the Department of Justice. The purported cryptocurrency project was fraudulent from its 2014 beginnings, prosecutors said, with OneCoin – co-founded by Karl Greenwood – setting up a pyramid scheme to market it to millions of people, generating as much as $4 billion in revenue.

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