Crypto News: Elon Musk, CryptoPunk NFT, and China’s New Law

Hey hamsters, Elon Musk is mocking us with Doge again. The most expensive CryptoPunk NFT was sold, and China’s new law is calling crypto transactions money laundering. Let’s look at the biggest headlines of today.

Justin Sun Causes Meme Coin Spike

Justin Sun caused a meme coin spike by changing his profile pic on X. The price of the token called Wukong rose tremendously minutes after Sun updated his profile to a picture of the RPG video game, Black Myth: Wukong. He recently said he’s not that into crypto, and now he’s messing with us again.

Elon Musk’s Latest Antics

Elon Musk posted an AI-generated photo saying he’s ready to serve at what he called the Department of Government Efficiency. I do not believe it was a lucky coincidence. He knows exactly what he’s doing. This comes after Donald Trump said in an interview that he would consider making Elon Musk an advisor to his administration in 2025 if he becomes president, calling him a smart and brilliant guy. “I certainly would if he would do it. I certainly would. He’s a brilliant guy,” Trump said.

China Classifies Crypto Transactions as Money Laundering

China just classified crypto transactions as a method of money laundering. Chinese authorities announced it on Tuesday, and the decision went into effect immediately.

CryptoPunk’s Most Expensive NFT Sold

CryptoPunk’s most expensive NFT was sold for an undisclosed amount. The NFT, which was acquired in 2022 for 8,000 Ethereum (worth $23.7 million at the time), was sold, and since the amount was not announced, the community speculated that it was way less than $23 million. Well, not surprising, to be honest, since the NFT market has been cooling down for a while now.

That’s all for today. Thanks for watching. Subscribe and remember, hamsters are power. One for all and all for one. See you tomorrow!

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