The NFT craze is fading, North Korea seems to be behind the Axie Infinity hack and can you guess which countries are the most crypto-friendly in the world? These stories and more this week in crypto.
Crypto Sentiment Index Reaches Extreme Scare
The well-known Crypto Fear and Greed Index, a popular indicator of investor sentiment, moved into the “extreme fear” range this week. Just three weeks ago, the index was pointing to “greed,” but since then bitcoin has lost over $7,500 in value and is struggling to hold the $40,000 mark.
The NFT of the first tweet has lost 99% of its value
The very first Tweet’s NFT went on sale with an asking price of $48 million, but the highest bid to come was only $6,800. The owner, who bought it last year for $2.9 million, says he still considers his NFT the Mona Lisa of the NFT world. Now he can’t sell at all.
North Korean group behind $600 million hack
The United States has linked North Korean-backed hackers to the $600 million Axie Infinity hack last month. FBI officials said a group called “Lazarus,” believed to be under the control of North Korean intelligence, was behind the offence. The hack of the popular play-to-earn game is one of the biggest in crypto history.
Crypto payments are frozen in India
Cryptocurrency payments are frozen across India after Coinbase announced it would support rupee deposits. Hours after Coinbase announced INR support, the central bank-backed entity that runs the payment system said it was “not aware” of a crypto exchange using its network. Coinbase along with several other companies that provide crypto-related trading services in India have since halted rupee transfers.
Amazon is considering NFTs
Amazon CEO Andy Jassy said the e-commerce giant has no plans to add crypto as a payment option to its retail business anytime soon. However, he also said that it might be possible to sell NFTs on Amazon’s platform, as he expects NFTs to continue to grow significantly.
Shiba Rise on Robinhood’s list
Popular trading platform Robinhood listed the Shiba Inu coin, and its price rose 20% on the listing announcement. The Shiba Inu community has been petitioning Change.org to have the platform list the meme piece since last October, garnering nearly 560,000 signatures to make it happen.
Jordan Belfort Hosts Crypto Workshops
Jordan Belfort, the inspiration for “The Wolf of Wall Street”, bills himself as a cryptocurrency guru. Although until recently Belfort was a crypto skeptic, now at his house in Miami Beach he hosts crypto workshops. Blockchain enthusiasts and entrepreneurs have the chance to hang out with the wolf and have an “intimate financial experience” for a few thousand dollars.
Germany is the most crypto-friendly country
Germany is the most crypto-friendly country on the planet according to a recent report by crypto analysts Coincub. The company studied 46 countries and ranked Germany, Singapore, the United States, Australia, and Switzerland among the top 5 digital currency friendly countries. Crypto trading and mining volumes, government legislation, and positions taken by central banks were among the ranking criteria.
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That’s what happened this week in crypto, see you next week.