Hey there, PoI readers! 💫

It's your favorite crypto connoisseur, Mochi, back with another serving of tantalizing tech and web3 news. From Finder's epic legal victory over ASIC and Snapchat's helicopter parenting feature to MicroStrategy's billion-dollar Bitcoin binge and Logan Paul's courtroom comedy, we've got a lot to unpack. So, buckle up and get ready for a wild ride through the wonderland of digital assets!

INTEL BRIEF

🟧 Australian fintech Finder scored a major legal victory when the Federal Court ruled its crypto yield product wasn't a financial instrument, defeating ASIC's appeal after a nearly three-year battle.

🟧 Snapchat just dropped a "Home Safe" feature that automatically alerts your friends when you've made it home, because apparently we've reached peak helicopter parenting in the digital age.

🟧 MicroStrategy quadrupled its preferred stock offering to $2 billion as Michael Saylor's Bitcoin-hoarding strategy continues to absolutely dominate the corporate treasury game.

🟧 A Texas judge basically told Logan Paul "nice try, buddy" when he attempted to dodge his CryptoZoo lawsuit by throwing his co-founders under the bus.

Finder Absolutely Destroys ASIC in Epic Australian Crypto Court Battle

Australia's Federal Court officially told ASIC to take a long walk off a short pier when they ruled that Finder's crypto yield product, aptly named "Finder Earn," is NOT a financial instrument. That's right folks - after nearly three years of legal back-and-forth, Justices Stewart, Cheeseman, and Meagher (what a trio!) confirmed that Finder's wallet and yield product were totally legit under consumer financial laws.

This whole drama started when Finder Earn was offering users a sweet 4% to 6% annual yield by converting Aussie dollars into stablecoins between February and November 2022. ASIC wasn't having it and decided to rain on everyone's crypto parade. But plot twist - the initial court said "nah mate, you're wrong," and when ASIC appealed in March, the Federal Court basically said "still wrong, mate" in the most legally polite way possible.

What makes this case absolutely legendary is that it was the first time an Australian court tested the legal definition of "debenture" concerning cryptocurrency. Finder's founder Fred Schebesta is calling it a win for the entire Australian fintech industry, and honestly, he's not wrong. The company even returned all customer funds (over 500,000 TrueAUD, roughly $336,000) like the responsible crypto citizens they are.

Finder beats ASIC in Federal Court after 3-year legal battle over crypto yield product

Court ruled Finder Earn wasn't a financial instrument, setting important crypto precedent

Victory is speculated to boost Australian fintech innovation and regulatory clarity

Snapchat Just Turned Into Your Overprotective Mom With New Safety Feature

Snapchat just announced their latest feature that's going to make overprotective parents everywhere absolutely lose their minds with joy. Say hello to "Home Safe" - the digital equivalent of your mom making you call when you get home, except now it's automated and slightly less embarrassing.

First, you set your home location by tapping your adorable little Bitmoji on Snap Map and selecting "My Home" (because apparently we needed to teach our phones where we live). Then, when you're out living your best life and want to ease someone's anxiety, you open a chat, tap the Map icon, and hit that shiny new "Home Safe" button.

The magic happens when you actually arrive home - your friend gets an automatic alert in your chat conversation saying "Hey, they didn't get kidnapped by aliens!" Well, not in those exact words, but you get the idea.

Snapchat wants you to know that this feature only works with friends you already share your location with. Plus, since location sharing is off by default on Snap Map.

Snapchat is positioning this as the perfect solution for those anxiety-inducing moments - whether you're "heading back from a first date, a crowded concert, or a weekend getaway."

This launch comes hot on the heels of Snap Map hitting 400 million monthly active users back in November. Clearly, people love sharing their whereabouts, and now they can share their safe arrivals too. What a time to be alive!

Snapchat launches "Home Safe" - auto-alerts friends when you arrive home safely

Feature only works with friends you already share location with (privacy still intact)

Comes after Snap Map reached 400M monthly users, expanding location-based features

MicroStrategy Raises $2B Because Michael Saylor's Bitcoin Addiction Got Expensive

Michael Saylor and his Bitcoin-obsessed empire MicroStrategy just cranked their fundraising dial up to eleven, expanding their preferred stock offering from a measly $500 million to a whopping $2 billion.

The company is hawking 5 million Series A Perpetual Stretch preferred shares at $90 a pop with a juicy 9% initial dividend. The deal's got heavy hitters like Morgan Stanley, Barclays, TD Securities, and Moelis & Co. backing it.

MicroStrategy's common stock (MSTR) is chilling around $413, but get this - it's up 37% year-to-date and a staggering 146% over the last 12 months! The company's market cap has ballooned to around $116 billion, making the S&P 500's measly 17% gain look like pocket change.

MicroStrategy is sitting pretty on 607,770 BTC since they started their Bitcoin treasury strategy back in 2020. They're not just the largest corporate Bitcoin holder - they're absolutely dominating the game, owning 66% of all public company Bitcoin holdings! Out of the top 100 publicly traded Bitcoin treasury companies holding 917,599 BTC total, Saylor's crew owns more than two-thirds.

Japanese AI firm Quantum Solutions just announced plans to snag 3,000 BTC over the next year, while Bitcoin miners like MARA Holdings (50K BTC) are also stacking sats like there's no tomorrow.

Saylor's basically turned MicroStrategy into a Bitcoin investment vehicle with a side business, and honestly? It's working spectacularly!

MicroStrategy expands stock offering to $2B (up from $500M) to buy more Bitcoin

Company owns 607,770 BTC - that's 66% of all public company holdings

MSTR stock up 146% in 12 months, outperforming S&P 500 by massive margin

Texas Judge Tells Logan Paul He Can't Escape CryptoZoo Disaster by Blaming Everyone Else

Logan Paul is learning the hard way that you can't just point fingers and moonwalk away from a crypto disaster! A Texas magistrate judge just delivered a judicial reality check.

Paul tried to pull the classic "blame the other guys" move by requesting a default judgment against his CryptoZoo co-founders Eduardo Ibanez and Jake Greenbaum, who apparently decided that showing up to court was optional. Claim these two conned him and caused the whole CryptoZoo catastrophe while he was just an innocent bystander with a massive YouTube following.

But Magistrate Judge Ronald Griffin wasn't having any of it! The judge essentially said "hold up there, champ" and recommended denying Paul's sneaky legal maneuver. Why? Because allowing it would create "inconsistent judgments" - legal speak for "this would be a hot mess that makes no sense."

CryptoZoo NFT buyers sued Paul and his crew in early 2023, claiming the project was a classic "rug pull" that promised blockchain gaming magic but delivered absolutely nothing. CryptoZoo launched in 2021 with fancy NFTs and tokens, but that promised game? Yeah, it never materialized - shocking, we know!

Judge Griffin dropped some serious legal wisdom, pointing out that if Paul successfully blamed everything on his missing-in-action co-founders, what would happen to the original lawsuit from the buyers?

Paul is also battling YouTuber "Coffeezilla" (Stephen Findeisen) in a separate defamation lawsuit over videos exposing CryptoZoo's issues.

To his credit, Paul did set aside $2.3 million for refunds in 2024, paying buyers back their original 0.1 ETH investment. But that came with strings attached - no suing allowed!

Judge rejects Logan Paul's attempt to blame CryptoZoo co-founders for project's collapse

Paul can't dodge the main lawsuit by throwing partners under the bus via default judgment

CryptoZoo buyers' fraud claims against Paul and others will proceed to trial

And that's a wrap, my lovely PoI readers! 💎 I hope this edition left you feeling informed, entertained, and maybe even a little bit richer (in knowledge, of course). From Australian fintech victories to social media safety features, corporate Bitcoin hoarding, and YouTuber legal drama - today's been quite the rollercoaster! Remember to stay curious, stay informed, and keep spreading the love. Until next time, this is Mochi, signing off with a virtual high-five!

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

🍨📰 Catch you in the next issue! 📰🍨