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🔴 Extreme Fear Hits Crypto


The NFT craze is fading, North Korea seems to be behind the Axie Infinity hack and can you guess which countries are the world’s most crypto-friendly? These stories and more this week in crypto.

Crypto Sentiment Index Reached Extreme Fear

The famous Crypto Fear and Greed Index, a popular indicator of investor sentiment, has slipped into the “extreme fear” range this week. Just three weeks ago the index was indicating “greed” but since then bitcoin has lost more than $7,500 in value and has struggled to hold the $40,000 mark.

NFT of First-Ever Tweet Lost 99% of Value

The NFT of the first-ever Tweet was put up for sale with a $48 million asking price, but the highest offer to come in was only $6,800. The owner, who bought it last year for $2.9 million says he still considers his NFT to be the Mona Lisa of the NFT world. Now he may not sell at all.

North Korean Group Behind $600 million Hack

The US has linked North Korea-backed hackers to last month’s $600 million hack of Axie Infinity. FBI officials say a group called “Lazarus” which is believed to be under the control of North Korea’s intelligence was behind the breach. The hack of the popular play-to-earn game is one of the biggest ever 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’s announcement of INR support, the central bank-backed entity that runs the payment system said it was “not aware” of any 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 Considering NFTs

Amazon CEO, Andy Jassy said that the e-commerce giant does not intend to add crypto as a payment option to its retail business anytime soon. However, he also said it might be possible to sell NFTs on Amazon’s platform as he expects NFTs to continue to grow significantly.

Shiba Rise on Robinhood Listing

The popular trading platform Robinhood has listed the Shiba Inu meme coin, and its price rose 20% on the news of the listing. The Shiba Inu community has been petitioning on Change.org for the platform to list the meme coin since last October, collecting nearly 560K signatures to make this happen.

Jordan Belfort hosts Crypto Workshops

Jordan Belfort, the inspiration for “The Wolf of Wall Street,” is marketing himself as a cryptocurrency guru. Even though until recently, Belfort was a crypto skeptic, now in his house in Miami Beach, he is hosting crypto workshops. Blockchain enthusiasts and entrepreneurs have a chance to hang out with the Wolf and enjoy an “intimate financial experience” for a couple thousand dollars.

Germany is the Most Crypto-Friendly Country

Germany is the most crypto-friendly country on the planet according to a recent report from crypto analysts Coincub. The firm researched 46 countries and ranked Germany, Singapore, the United States, Australia and Switzerland as the world’s top 5 countries most favorable for digital currencies. Crypto trading and mining volumes, government legislation, and stances taken by central banks were among the ranking criteria.

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That’s what’s happened this week in crypto, see you next week.

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