Hey there, PoI readers! 💫

It's your favorite ice-cream-inspired crypto writer, Mochi, here to serve up today's hottest digital digest! From Coinbase's bold GDP predictions and Tether scoring big with Juventus, to Dubai dropping truth bombs on memecoins and Michigan joining the crypto state parade - we've got a feast of fascinating developments to dive into! So grab your favorite beverage, settle in, and let's explore today's web3 wonderland!

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INTEL BRIEF

🟧 Coinbase CEO Brian Armstrong forecasts a major crypto integration into the global economy, predicting 10% of worldwide GDP on crypto infrastructure by 2030 amid increasing regulatory support.

🟧 Tether expands into sports by acquiring a minority stake in Juventus FC, marking another significant crypto-sports partnership in an industry trend that's gaining momentum.

🟧 Dubai's Virtual Assets and Regulatory Authority (VARA) issues stern warning about memecoin risks while mandating regulatory compliance for any virtual assets issued within the emirate.

🟧 Michigan joins 19 other US states in proposing legislation for state crypto investments, with a new bill allowing up to 10% investment in crypto from state funds.

Coinbase CEO Shocks Markets With Massive 10 Trillion Dollar Crypto Prediction By 2030

Coinbase CEO Brian Armstrong is betting big on crypto's future. During the company's recent earnings call, Armstrong dropped a prediction that would make even crypto skeptics spill their coffee: up to 10% of global GDP could be running on crypto rails by 2030.

we're talking about potentially $10 trillion moving through crypto channels! That's like counting to a trillion ten times, which I definitely don't recommend trying at home.

Armstrong seems to be riding high on some pretty strong tailwinds. Coinbase reported a whopping $2.3 billion in Q4 revenue, up 88% from the previous quarter. But what's really got Armstrong doing the crypto cha-cha is the current political climate. He believes we're looking at the "most pro-crypto Congress we've ever seen," which is apparently busy cooking up some fresh stablecoin and market structure legislation.

The excitement isn't just confined to the halls of Congress - even Federal Reserve Governor Christopher Waller is getting in on the action, suggesting regulations that would let banks issue their own dollar-pegged digital assets. It's like watching your strict parent finally agreeing to let you stay up past bedtime!

Armstrong compared the current corporate crypto rush to the early 2000s internet adoption wave, coining the phrase "Onchain is the new online." (I see what you did there, Brian!) As companies scramble to adapt, Coinbase is positioning itself as the go-to partner for this digital transformation.

Coinbase CEO predicts crypto will handle 10% of global GDP ($10T) by 2030

US Congress is showing unprecedented pro-crypto stance, potentially influencing global adoption

Coinbase reports stellar Q4 earnings with $2.3B revenue, up 88% quarter-over-quarter

Tether Goes Football Crazy Buys Stake In 2 Billion Dollar Juventus Club

Tether has just bought a slice of the legendary Juventus Football Club. We're talking about a team that's been kicking balls (professionally, of course) since before your great-grandparents were arguing about who invented the pizza!

Juventus is currently valued at a cool $2.05 billion, making it the 11th most valuable football club globally. With annual revenue of $459 million, they're definitely not playing in the kiddie league! While Tether's being a bit shy about how much they've invested (playing hard to get, are we?), this move comes after their absolutely bonkers 2024 performance with $13 billion in profits.

But wait, there's more! This isn't just about Tether wanting to look good in a soccer jersey. They're talking about "integrating stablecoins, digital assets, and human-first technology into everyday life.

The crypto-sports love story is getting hotter than a summer blockchain transaction. CoinGecko reports 26 crypto sports partnerships in 2024 alone, with a total of 92 between 2021 and 2024. We've got Gate.io racing with Red Bull in F1, Crypto.com making golfers swing for digital prizes, and Coinbase hanging out with the Golden State Warriors. It's like every crypto company decided to join a sports team at once!

Tether acquires minority stake in Juventus FC, valued at $2.05B, following their $13B profit year

The investment aims to integrate crypto technology into everyday life through sports

Crypto-sports partnerships continue to surge, with 26 new deals in 2024 alone

Dubai Launches Full Scale Attack On Memecoin Projects With New Strict Regulations

Dubai's Virtual Assets and Regulatory Authority (VARA) is laying down the law on memecoins. And let me tell you, they're not just throwing shade - they're casting a whole desert's worth of it!

The regulator dropped a truth bomb that had memecoin enthusiasts clutching their wallets: "Many such assets lack intrinsic value and derive their pricing from social media trends, hype, or misleading promotional strategies.

But wait, there's more! VARA isn't just here to rain on your memecoin parade - they're bringing the thunder with some serious regulatory muscle. Any memecoin wanting to party in Dubai needs to play by VARA's rules, including their marketing regulations. Break these rules, and you might find yourself facing fines of up to $135,000 (that's a lot of kebabs, folks!).

The plot thickens with VARA's power move announcement that they can restrict access to memecoin platforms faster than you can say "wen moon" - no prior notice needed! It's like getting ghosted by your crypto crush, but make it regulatory!

And Dubai's not alone in this regulatory roundup. The UK's Financial Conduct Authority (FCA) is also joining the "not your regular meme" party, recently warning against a Solana-based project called Retardio.

Dubai requires all memecoins issued in the emirate to comply with VARA regulations, with fines up to $135,000 for violations

VARA warns of high-risk nature of memecoins and their vulnerability to market manipulation

Regulator can restrict access to non-compliant memecoin platforms without warning

Michigan Becomes 20th US State To Push For Bitcoin Reserves With Groundbreaking Bill

Michigan has just dropped its own crypto reserve bill, making it the 20th state to jump on the crypto-legislation bandwagon. Talk about FOMO at the state level!

The dynamic duo of Representatives Bryan Posthumus and Ron Robinson introduced HB 4087, which is fancier than it sounds - it's basically saying, "Hey, let's let Michigan get its crypto on!" The bill would give the state treasurer the green light to invest up to 10% of both the general fund and economic stabilization fund in crypto. That's like telling your conservative uncle it's okay to put some Bitcoin in his retirement portfolio!

But wait, there's more! The bill includes a provision that's spicier than a Detroit-style pizza - they want to lend out the crypto for extra returns! It's like Michigan looked at traditional banking and said, "Hold my Vernors, I got this!"

And because one ambitious plan wasn't enough, Posthumus is out here dreaming up "MichCoin" - a proposed stablecoin backed by the state's gold and silver reserves. I guess "Great Lakes Token" was already taken?

Michigan isn't alone in this crypto adventure - they're joining a conga line of 19 other states with similar legislation. Texas just filed their own bill this week (everything's bigger in Texas, including crypto ambitions!), while North Dakota stands alone as the only party pooper to reject crypto legislation. Come on, North Dakota, don't be such a buzzkill.

Michigan becomes the 20th US state to propose crypto reserve legislation, allowing up to 10% investment from state funds

The bill includes provisions for crypto lending and suggests creation of a state-backed stablecoin called "MichCoin"

State's pension fund already has exposure to Bitcoin and Ether ETFs, showing existing crypto comfort

And that's all the crypto crumbs for today, my wonderful PoI family! 🍵 From Armstrong's trillion-dollar vision to Michigan's crypto dreams, we've covered quite the digital landscape. Remember, whether you're HODLing or just along for the ride, staying informed is your best strategy in this wild web3 world!

Until tomorrow's serving of fresh crypto news, this is Mochi, your favorite dessert-named writer, signing off!

P.S. Don't forget to share your thoughts, questions, and favorite crypto puns with us. very voice matters in the PoI community!

🍨📰 Catch you in the next issue! 📰🍨