Happy Bull’s Year, North Korean Hackers!

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In this episode, Anna Baydakova and Danny Nelson discuss North Korea, which reportedly stole your crypto to make nuclear weapons, Tesla, which is rocking markets at an opportune time, and Nigeria, which is trying to ban crypto.

From February 12th we are in the year of the ox or bull on the Chinese calendar. For now, at least, things look pretty optimistic for crypto. Ordinarily, Chinese users would sell bitcoin massively before the new year, but the current rally is mostly being driven by institutions rather than retail buyers in Asia. So it looks like the show “To the Moon” has to go on!

A panel of experts at the United Nations said North Korea used the money extorted from cyberattacks to finance the development of nuclear weapons. The panel said that according to its investigation, the hackers associated with the North Korean regime worked throughout 2020 and made the money now funding weapons of mass destruction and ballistic missile programs. According to Chainalysis, the hackers used the DeFi infrastructure, over-the-counter brokers and mixers to sell their crypto. Will we have some North Korean hacking crypto one day?

Tesla was hyping the Bitcoin market just as some bad news was coming from China. In February, Tesla’s annual report to the Securities and Exchange Commission contained news that the company had invested a total of $ 1.5 billion in Bitcoin. Shortly before this filing, several Chinese government agencies publicly questioned the quality and safety of Tesla vehicles. Coincidence?

Nigeria is trying to curb the adoption of crypto, but it’s not that easy. In early February, the country’s central bank sent a letter to financial institutions asking them to close all bank accounts associated with cryptocurrency trading platforms. Result: Binance stopped deposits in Nigeria. As a result, Nigerians turned to peer-to-peer trading platforms. Is that actually good for crypto adoption? We will see.

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