Peak Oil, Meta Crash, Rising Interest Rates, Bored Apes At $5 Billion

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Among a Meta (formerly Facebook) crash of 26%, peak oil prices at $90 a barrel (first time since 2014) and rising interest rates in the US, the UK and Europe, you would expect market mayhem in crypto.

Strangely enough, Bitcoin is up today by some 2% at the time of writing.

Andreessen shifts to NFT

Bored Ape Yacht Club, the NFT group that we warned you about months ago, is about to go global. After getting interest from several celebrities who have purchased the pieces, the startup is now valued at around $5 billion and in talks to bring Andreessen Horowitz on board. That Silicon Valley venture capital firm was an early investor in Facebook, Twitter and AirBnB so that’s quite the statement.

Microstrategy CEO wants regulation

MicroStrategy co-founder and CEO Michael Saylor is a big Bitcoin believer. As such, you don’t normally expect him to call for regulation, which some crypto enthusiasts believe will dent the Bitcoin price at first.

Saylor explained on CNBC this week, stating that his company is looking for:

Clear, bright line definitions of digital property versus a digital security versus a digital currency and the operating rules of the digital exchange.

Additional regulatory clarity from the Biden administration is going to benefit bitcoin and accelerate institutional adoption of that asset.

YouTube Streamer Scams $500k Crypto

Paul “Ice Poseidon” Denino, a YouTube star who was banned from Twitch in 2017, has been accused of stealing $500,000 in cryptocoins from his fans and keeping most of it. The scam has been reported by several media outlets.

Apparently, the streamer called Ice Poseidon tricked his followers to invest in CxCoin, a coin the streamer founded, before he then pulled the rug from everyone. He took the profits and apparently bought a Tesla. the story comes only a month after a New York court started legal proceedings against Kim Kardashian for boosting a coin called EthereumMax.

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