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Russia is hinting that it will accept BTC for oil, Exxon Mobil will start mining the crypto, and Twitter scammers will try to steal Bored Ape NFTs. These stories and more this week in crypto.
Russia considers Bitcoin for oil
Bitcoin was trading up nearly 5% as markets reacted to news that Russia was considering accepting bitcoin as payment for oil and gas. Head of Russia’s State Duma Committee on Energy Says ‘Friendly’ Countries May Be Allowed to Pay in Bitcoin or Their Local Currencies as Country Explores Other Ways to Receive Payment for Exports of energy.
Exxon pilots bitcoin mining program
The largest US oil producer, Exxon Mobil, runs a pilot program that taps excess natural gas to power crypto mining machines. The oil giant is in partnership with Crusoe Energy Systems, which helps gas companies use flare gas to mine digital currencies. Exxon’s pilot mining program is taking place in North Dakota.
Coinbase adds Cardano staking
Cardano’s ADA token hit its highest level since mid-February after crypto exchange Coinbase expanded its staking offerings to include ADA. The crypto exchange estimated the return on staked Cardano to be around 3.75% per year. After an initial 20-day holding period, customers will receive rewards in their account weekly.
DeSantis: Florida businesses will pay taxes in Bitcoin
Florida Governor Ron DeSantis explained that he told state agencies to “discover” ways for businesses to pay taxes with cryptocurrencies like bitcoin. DeSantis, a public supporter of bitcoin, has also expressed concern about the possibility of central bank digital currencies, saying there are a lot of risks with this, when this is centrally controlled.
The Bored Ape team is building a metaverse game
Yuga Labs, the company behind the Bored Ape Yacht Club, hit a $4 billion valuation after a $450 million fundraising campaign led by venture capital firm Andreessen Horowitz. The Yuga Labs team said the money will go to its Metaverse project, Otherside. The MMORPG project should integrate the fundamental principles of Web3, such as interoperability and decentralization.
Crypto.com will sponsor the 2022 FIFA World Cup
Cryptocurrency exchange Crypto.com has become the official sponsor of the FIFA World Cup Qatar 2022. The exchange will be the exclusive bitcoin and cryptocurrency trading platform for the event. Crypto.com joins other digital currency companies, including crypto asset exchange FTX, that have spent significant time and money on sports sponsorships.
$1 million worth of NFTs stolen
Several hacked Twitter accounts started promoting a fake ApeCoin airdrop this week, resulting in the loss of money for the victims. ApeCoin is a cryptocurrency that can be claimed by Board Ape NFT holders via a real airdrop. An NFT collector has lost over half a million dollars from his collection. Never connect your wallet and never approve transactions on illegitimate sites.
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