Another whirlwind week in the crypto universe has passed, and as usual, it brings a mix of corporate drama, NFT riches, ancient mysteries, and regulatory moves. Here’s our bite-sized digest of the biggest stories.
Elon Musk Promises to Fix Twitter’s ‘Single Most Annoying Problem’ – Crypto Spam Bots
Tesla and SpaceX CEO Elon Musk has officially joined Twitter’s board of directors and pledged to make “significant improvements” to the platform. In a series of tweets, he called crypto spam bots the ‘single most annoying problem’ on Twitter and hinted at adding an edit button. The move follows Musk’s previous criticism of bot management and signals a potential shake-up for the social media giant.
Top 5 Bored Ape NFT Traders: Millions in Profits Revealed
The Bored Ape Yacht Club (BAYC) collection remains a powerhouse in the NFT space, recording $257 million in sales volume over the past 30 days. A deep dive into the five most profitable BAYC traders of all time shows how some have turned rare apes into life-changing wealth. While skepticism about NFT valuation persists, these trader profits underscore the speculative frenzy that still surrounds blue-chip collectibles.
The Mt Gox Cold Case: 80,000 Bitcoin Dormant for 11 Years
A wallet linked to the infamous Mt Gox exchange hack has sat untouched since its first deposit on March 1, 2011. It holds nearly 80,000 BTC, currently worth $3.7 billion. Now the ninth-richest Bitcoin address, the funds have never moved, leaving the crypto community to speculate about ownership and future movement.
Indonesia Sets 0.1% Crypto Tax from May 2022
The Indonesian government has confirmed it will levy a 0.1% income tax on crypto investment gains and an equal 0.1% value-added tax (VAT) on crypto purchases, starting in May. The relatively low tax rates aim to bring crypto trading into the formal tax net without stifling the emerging market.
From Musk’s boardroom antics to dormant billions and evolving regulations, this week proves that the crypto industry continues to capture mainstream attention even as old ghosts linger.