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Another week has passed in the action-packed world of crypto, so it’s time to kick back, take stock of the situation, and enjoy this week’s bite-sized digest of the hottest crypto news from the past seven days. On the menu this go-round is Tesla CEO Elon Musk talking about Twitter’s ‘single most annoying problem,’ a deep dive into the world of Bored Ape Yacht Club NFT gains, a pile of bitcoins connected to Mt Gox still shrouded in mystery, and tax developments in Indonesia. Without further ado, this is the Bitcoin.com News Week in Review.
Tesla and Spacex CEO Elon Musk has joined Twitter’s board of directors and promised to “make significant improvements” to the social media platform. Some changes he is considering include adding an edit button and solving the crypto spam bot problem, which he sees as the “single most annoying problem on Twitter.”
Non-fungible tokens (NFTs) have been extremely popular during the last two years and in recent times, specific NFTs from certain collections sell for hundreds of thousands or even millions of dollars per NFT. During the last 30 days, Bored Ape Yacht Club (BAYC) NFTs saw $257 million in sales volume. While people still question the value of NFTs, it’s also interesting to see who is purchasing the most expensive NFTs like Bored Apes and trading them regularly. The following is an in-depth look at the top five BAYC traders of all time and the millions of dollars in profits they have made.
For the last 11 years, a mysterious wallet associated with the Mt Gox scandal has sat dormant holding close to 80,000 bitcoin worth $3.7 billion today. While the wallet was once the sixth-largest address a few years ago, today it’s the ninth-largest wallet in terms of bitcoin held, and the funds have never been spent since the first deposit on March 1, 2011.
The Indonesian government has decided to tax capital gains income from crypto investments at 0.1% starting in May. In addition, value-added tax (VAT) of the same rate will be levied on crypto purchases.
What are your thoughts on the past week’s hottest crypto news? Let us know in the comments section below.
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