Aloha, crypto comrades! It’s time to start off this Tuesday with a bang (and maybe a little bit of a hangover) 🍹, as we celebrate National Memorial Day with some crypto news. 🙌
💸 Debt Ceiling Deal Has a Less-talked Benefit
💰 NIKE Did It
💲Don’t Visit This Country, You Might Get Jailed
🕵️♀️ TikTok Star Puts All His Money In 1 Basket
No More Crypto Mining Tax! Hurray!
President Joe Biden and House Speaker Kevin McCarthy finally came to terms on the U.S. debt ceiling, but the really exciting news is what didn’t make the cut – the Biden administration’s proposed Digital Asset Mining Energy (DAME) excise tax!
You read that right, 💰💻 cryptocurrency mining firms dodged a bullet with this one – a 30% tax was on the table, all in the name of preventing environmental and societal damage. But, guess what?
It looks like we’ve been saved from the dreaded DAME excise tax, thanks to some swift action from Mr. U.S. Congressman Warren Davidson. 💪🏼
For those of you who missed the drama, the DAME tax was a proposed tax on digital asset miners operating on Proof-of-Work (PoW) and Proof-of-Stake (PoS) networks. Basically, it would have made life pretty tough for miners, requiring them to disclose a slew of info about their operations, including energy consumption and source— and pay a 30% tax on mining crypto.💡
Nike NFT Sneaker Collection Nets Big Bucks
🔥 Well, well, well, looks like the big dogs are getting a taste of the NFT game! American athletic footwear giant, Nike, is making moves in the Web3 space with their brand new NFT sneaker collection. They call it “Our Force 1,” and it’s already raked in millions of dollars! But, not everyone is thrilled about it. 👀🤔
Nike’s Web3 platform, .SWOOSH, launched the highly-anticipated NFT sneaker collection inspired by the iconic Nike Air Force 1 Low, which hails all the way back from 1928.
The new NFT collection has been a wild success, but it hasn’t exactly been smooth sailing. The launch faced persistent delays and technical difficulties that tested the community’s patience, leaving some diehard fans frustrated. 💥
Let’s just say, 🤦♀️Nike’s attempt at this NFT game had some bugs, and it didn’t go unnoticed by the community. Some people have even reported being charged for NFTs they never even received, adding salt to the wound.
But the kicker? Despite Nike’s best efforts to file down the rough edges and extend sale windows, believe it or not, the athletic giant hasn’t sold out all of its NFTs! According to PolygonScan, the sportswear giant sold a whopping 72,000 NFTs out of a total 106,000, raking in an impressive $1.4 million in sales at $19.62 apiece.
Crypto Bros! Let’s Say No To Bali
Listen up, crypto aficionados- if you’re planning on hitting up Bali 🌞🏝️ for some fun in the sun, you may want to leave your digital coins at home.
Why, you ask?
Well, according to reports, Bali’s governor, Wayan Koster, has warned tourists about using crypto as a form of payment on the island. Apparently, using digital assets to pay for accommodation, restaurants, activities, or shopping will not be tolerated- and may even result in the closure of certain businesses. Yikes.😱
To make matters worse, using foreign currencies for payment is also a big no-no in Indonesia. Only Indonesian Rupiah is considered a valid tender, so make sure you carry some cash if you don’t want to get into trouble.
But wait, there’s more! 😎 It seems that crypto’s use as payment for certain goods and services has been on the rise in Seminyak, a major tourist hotspot in Bali.
So, if Bali is on your travel itinerary, you may want to rethink using your crypto as a payment option. Or, if you’re feeling daring, go ahead and risk it for the biscuit, but be prepared for some pretty stiff consequences. 🤷♂️🌴 The choice, as always, is yours!
TikTok Star Risks His Home With $500K Crypto Investment
Oh boy, 🤑😬talk about a classic case of cryptocurrency FOMO! It looks like a Tik Tok Infleuncer Money_talk_tok was going through some serious buyer’s remorse after sinking a whopping $500,000 into XRP, the native token of Ripple.
Now, back in February, this TikTok personality apparently sold their soul (okay, maybe just their home) for XRP when the token was trading at $0.69, and market sentiment was about as good as a soggy baguette.
But did they let that stop them? Heck no! This influencer thought they could outsmart the market and double down on XRP.💸💭
Fast forward to today, and XRP is trading at a measly $0.47 per coin, which means Money_talk_tok is sitting on a loss of over $150,000. Yikes! That’s gotta hurt.
Honorable Mentions 🏆
- 💰 U.S. Criminal Charges Against Sam Bankman-Fried Don’t Warrant Dismissal, Prosecutors Say
- 🚀 OpenAI’s Sam Altman Secures $115M in Funding for Worldcoin Projec
- 🔥Bitcoin selling for $5K cheaper on Binance Australia as fiat ramp closes
Crypto Market Watch ft. AI🚀
(This section is exclusively written by AI tools)
Looks like Bitcoin is holding strong over the 200-Week MA and EMA, which is a really important indicator for assessing a market’s strength or weakness.
This bounce back indicates that Bitcoin is doing pretty well right now. In fact, some experts are predicting that we could see another big surge soon, and that Bitcoin could even hit between $38-42K before the next halving target.
Twice weekly crypto goodness, coming your way! Catch us every Tuesday and Friday. And hey, don’t forget to check us out on Wednesdays for all the latest AI news – because why limit yourself to just one kind of intelligence?
