🔴 Exxon Explores Crypto Mining

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Russia hints at accepting BTC for oil, Exxon Mobil will begin mining crypto and Twitter scammers try to steal Bored Ape NFTs. These stories and more this week in crypto.

Russia Considers Bitcoin for Oil

Bitcoin was trading almost 5% higher, as markets reacted to the news that Russia was considering accepting bitcoin as payment for oil and gas. According to the head of Russia’s State Duma committee on energy, “friendly” countries could be allowed to pay in Bitcoin or in their local currencies, as the country has been exploring alternative ways to receive payment for energy exports.

Exxon Piloting a Bitcoin Mining Scheme

The largest U.S. oil producer, Exxon Mobil is running a pilot program that leverages excess natural gas to power crypto mining machines.The oil giant is partnered with Crusoe Energy Systems which helps gas companies use flare gas to mine digital currencies. Exxon’s pilot mining program is taking place in North Dakota.

Coinbase Adds Cardano Staking

Cardano’s ADA token rose to its highest level since mid-February after crypto exchange Coinbase expanded its staking offerings to include ADA. The crypto exchange estimated the yield on staked Cardano to be about 3.75% percent annually. After a 20 day initial holding period, customers will receive the awards to their account every week.

DeSantis: Florida Businesses to Pay Taxes in Bitcoin

Florida governor, Ron DeSantis, explained that he told state agencies to “figure out” ways for businesses to pay tax with cryptocurrencies like bitcoin. DeSantis, a public supporter of bitcoin, also expressed his concern about the possibility of central bank digital currencies, saying, there’s a lot of hazards with that, when that’s centrally controlled.

Bored Ape’s Team is Building a Metaverse Game

Yuga Labs, the company behind the Bored Ape Yacht Club, has reached a $4 billion valuation after a $450 million funding campaign led by venture firm Andreessen Horowitz. The Yuga Labs team said the money would go towards its Metaverse project, Otherside. The MMORPG project is planned to incorporate fundamental Web3 principles, such as interoperability and decentralization.

Crypto.com to Sponsor 2022 FIFA World Cup

Cryptocurrency exchange Crypto.com has become the official sponsor of the FIFA World Cup Qatar 2022. The exchange will be the exclusive bitcoin and cryptocurrency trading platform for the event. Crypto.com joins other digital currency firms, including crypto asset exchange FTX, that have dedicated a lot of time and money into sports sponsorships.

$1 Million worth of NFTs Stolen

Several hacked Twitter accounts began promoting a fake ApeCoin airdrop this week, resulting in the loss of for victims. ApeCoin is a cryptocurrency that can be claimed by Board Ape NFT holders through a real airdrop. One NFT collector has lost over half a million dollars worth of their collection. Never connect your wallet and approve transactions on illegitimate sites.

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