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The most important crypto news of the last week

2 min read

Another exciting week in crypto space is coming to an end. The most important events around BTC and Co. at a glance.

Inflation in Turkey reaches almost 50 percent

The Turkish lira continues to be in a crisis situation. Last week, Turkey’s statistical office said the inflation rate had risen to 48.69 percent. We also received news from the ECB that there will be no key interest rate hikes in Europe either – despite record inflation.

In any case, the most recent visit from El Salvador did not seem to motivate President Erdogan to change the direction of his crypto policy. However, with such devastating inflation, the question remains: Is now the time for the BTC standard in Turkey?

El Salvador wants to set up 1,500 BTC ATMs

After the problems of the state issued Chivowallet, El Salvador is now switching to the technology provider AlphaPoint. President Bukele also plans to continue expanding BTC adoption in the country. 1,500 BTC ATMs are to be set up for this purpose.

The IMF recently expressed criticism of El Salvador’s crypto policy. Meanwhile, there is no remorse about BTC as a means of payment in the Central American country.

Google announces plans for Web 3.0

The parent company shone with a turnover of around 75 billion US dollars alphabet in the release of fourth quarter financial results.

But other topics did not leave the investors indifferent in the call. So explained Sundar Pichai, CEO of Googlethat the company is “definitely watching the blockchain space.” Pichai also revealed that the cloud team at Google in particular is working on blockchain solutions.

While Google was able to score with its latest quarterly figures, the Meta share weakened significantly shortly after the disclosure of Zuckerberg’s results.

India wants to legalize crypto

The South Asian country announced a change in direction in its crypto policy last week. While India had not ruled out a complete ban on cryptocurrencies, this now seems to be out of the question – the country wants to earn a lot from it.

Instead, India now wants to impose a crypto tax of a whopping 30 percent. This would make this the highest tax in the Indian financial system.

Bored Ape NFT sold for record sum

A copy of the Bored Apes Yacht Club (BAYC) NFT collection has a new owner for a record amount of 1,080.68 ETH. Nothing is known about the buyer yet. But NFTs from the BAYC collection meanwhile include superstars like Justin Bieber or Eminem among its owners.

While that certainly marks a new record, caution is warranted in the NFT space. The famous NFT marketplace OpenSea According to the study, about 80 percent of digital artworks mined with a particular tool are fake.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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