This week on crypto twitter: White House mining tax scrapped, Bukele hires bitcoin experts

Illustration by Mitchell Preffer for Decrypt

This week the markets finally started to grow a bit four weeks the stagnation. There wasn’t much news to push prices up. In the US, regulators continued to claim that the existing rules were sufficient for the industry. Meanwhile, another domestic crypto exchange – Gemini – continued its offshore expansion.

Crypto Twitter’s most politically important tweet this week came from Congressman Warren Davidson, who confirmed on Monday that the new US debt ceiling agreement represents an unpopular deadlock White House proposal crypto mining companies will be subject to a 30% excise tax based on their electricity consumption.

Also on this day, the Bitcoin NFT project Ordinals reached a new milestone.

On Tuesday, El Salvador’s National Bitcoin Bureau — an official body set up to popularize bitcoin as legal tender in the country — announced that the country’s authoritarian president, Nayib Bukele, had been hired a new bitcoin advisor.

Alex Svanevik, CEO of blockchain data and research firm Nansen, announced that the company would lay off 30% of its employees to streamline the company. He also cited the bear market as a factor.

Blockchain rubber shoe ZachXBT uncovered a particularly persistent scam on Thursday.

Imagine making a million in twenty four hours by doing nothing but opening your wallet. Well it has already happened. Welcome to the Blockchain.

It’s easy to worry about AI these days because so many leading companies in the technology industry refer to it as such a potential extinction risk. Sam Altman, CEO of OpenAI, made a more mundane prediction about the advent of artificial general intelligence: maybe it will continue.

According to PeckShieldAlert, NFT theft is declining, but the Blur marketplace is growing in popularity for stolen digital goods.

Messari analyst Ally Zach on Thursday delved deeply into the latest adopters of Solana and the possibilities of blockchain for consumer applications.

Finally, on Saturday, the crypto wallet provider Atomic warned that several wallets were compromised. Crypto sleuth ZachXBT revealed the staggering amounts of crypto at stake.

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