After a series of seemingly slow weeks things really heated up in crypto for the past 7 days. Conspiracy theories, celebrities buying monkeys, people losing tons of cash to known scammers and criminals...

Celebrity Monkey Business

The current hype around Bored Apes is starting to seem too good to be true and according to some sources that just may be the case. The week started with Paris Hilton showing her NFT on a late-night talk show, it heated up with an alleged Justin Bieber purchase of 500 ETH for Ape #3001 and just recently news came out that Tai Lopez spent 95 ETH on an ape that he will be giving away.

I had my doubts about all of this because it just makes no sense. On-chain data shows that Bieber got over 900 ETH from a wallet that is holding more than a few NFT projects for quite some time now. To make it simple, my assumption is that these sales are "sponsored" to pump the price of apes through celebrity endorsement. A subject I will be exploring further in the coming days. Until then, this Twitter thread is a great source of information and potential leads.

Another fun fact regarding the BAYC project is the similarity to some nazi symbolism which are thoroughly explained here.

Wonderland Investors Get Rekt

I covered Wonderland a few times and even reported on their latest attempt to save the project by merging it with Abracadabra, the project behind the MIM stablecoin. All of that seems irrelevant right now because the community has found out that Sifu, the "CFO" of Wonderland is actually a known felon and scammer that ran a Canadian-based crypto exchange which ended up stealing all user funds.

Most of the beans are already spilled all over the internet but if you want an in-depth explanation of this event, Rekt has covered the story.

According to the latest news, Wonderland will be dissolved and Time holders will get a share of the treasury proportional to their holdings.

JPMorgan Closes Hayden Adams's Account

Only days after a JPMorgan chief proclaimed cryptocurrencies were “here to stay”, the same bank then promptly closed the accounts of the founder of the world’s largest decentralised exchange protocol.

Uniswap's founder Hayden Adams has revealed that JP Morgan closed his account with no prior notice or clear reasoning. YahooFinance has reported on it and the crypto community took the opportunity to point out yet another flaw of centralized finance.

Elon Musk, GrimaceCoin and HitlerInu

Elon Musk continued to dominate the crypto Twitter community with his offer to eat a Happy Meal on TV if McDonalds starts accepting Dogecoin.

They responded with a meme

And Grimacecoin was obviously created just hours later...

Elon then continued to mind his own business and kept posting memes until he hit a sweet spot with Hitler.

Just a few hours later HitlerInu was created and surged for more than 5000%.

"LARYNX Claim Drop Imminent"

After all the carnage and cringe from the crypto markets, it was nice to see some good news on Hive. @spknetwork published an article regarding the LARYNX token claimdrop that will be here very soon!

The initial LARYNX Miner Token claim drop will be carried out on a dedicated Hive Layer 2 token system which we will call "SPK Claim Chain (SCC)". The claim of LARYNX tokens is due to begin in 2-3 weeks from now. We will follow up with further info over the coming days.

Get ready and stay tuned for more updates.

Posted Using LeoFinance ^Beta