Are you sure you know everything about what’s been happening this week? Here are the answers to BeInCrypto’s weekly quiz, which will help you stay on top of what’s happening right now.
1. An NFT memorializing the first Tweet made by Twitter CEO Jack Dorsey finally sold this week. How much for?
Answer: $2.9 million
Twitter co-founder and CEO Jack Dorsey’s first-ever tweet memorialized in NFT format sold at auction for a staggering $2.9 million on Monday. The tweet had been up for sale for three months on NFT marketplace Valuables.
2. The New York Times also took its first step into the NFT space, turning an article written by one of its journalists into an NFT. But what was the focus of the article?
Answer: NFTs
New York Times journalist Kevin Roose turned an article he wrote about NFTs into an NFT. In the article, Roose explains what NFTs are and how he put his own NFT up for auction. The NFT sold at auction for a whopping $560,000.
3. Which top cryptocurrency exchange minted its first NFT this week?
Answer: Binance
Binance France began minting NFTs on Binance Smart Chain last week. The NFTs feature “diplomas” which acknowledge user participation in a series of six-hour-long webinars hosted in collaboration with Socios.com.
4. CBDCs are growing in popularity worldwide. Which central bank called CBDC experimentation a “necessary step?”
Answer: Bank of Japan
The Bank of Japan has formed a new committee dedicated to CBDC experimentation. In a statement released on Friday, the central bank called the experimentation “a necessary step.”
5. Which blockchain did Microsoft launch its first decentralized identity platform on this week?
Answer: Bitcoin
Microsoft, the world’s most famous computer software company, revealed the launch of its own decentralized identity platform built on Bitcoin’s blockchain. The platform, named ION, is the software giant’s bid for delivering decentralized identity applications in the digital world.
6. Microsoft’s President, Brad Smith, said he doesn’t think companies should be able to issue digital currencies this week. Who does Smith think should have that power in the future?
Answer: Governments
Smith says that he believes governments should be the only entity issuing digital currencies to protect the public interest:
“The money supply almost uniquely needs to be managed by an entity that is responsible to the public and thinks really only about the public interest, and that means governments.”
7. A record number of bitcoin options were set to expire yesterday. What is the total value of all outstanding contracts?
Answer: $6 billion
The market faced a record $6 billion worth of bitcoin options coming to expiration on Friday. Several voices in the crypto community suggest the event as a reason for bitcoin’s poor performance this week.
8. Goldman Sachs revealed it had filed an application to host an ETF in the United States. Which other investing giant followed suit?
Answer: Fidelity
In what is a major step forward for the crypto market, both Fidelity Investments and Goldman Sachs have filed for bitcoin ETF with the U.S. SEC. Goldman Sachs filed the application on March 19, while Fidelity filed a few days later on March 24.
9. According to a Harris Insights poll, what proportion of Americans have spent their stimulus checks on bitcoin and ether?
Answer: 7%
According to data from a Harris Insights poll, roughly 7% of Americans surveyed have used their stimulus checks to buy cryptocurrencies like bitcoin and ethereum.
10. Tesla followed through on its plans to accept cryptocurrencies as a payment method for its vehicles. Where will the option be available first?
Answer: United States
The payment option is only available in the United States, but will be available in more countries later in the year.
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