Hey there, PoI readers! 💫

It's your favorite crypto connoisseur, Mochi, back with another serving of tantalizing tech and web3 news. This week, we've got a rollercoaster of stories that'll make your digital brain cells dance!From Elon Musk's wild xAI acquisition to Vitalik Buterin's robot-meowing adventures, we're diving deep into the most jaw-dropping moments in the crypto universe. 🌐 Prepare for a journey that's part tech report, part comedy show, and 100% pure PoI magic!

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INTEL BRIEF

🟧 Musk transfers X to xAI in a controversial $80 billion deal amid an ongoing fraud lawsuit.

🟧 Ethereum co-founder Vitalik Buterin's viral robot-meowing video sparks crypto community amusement and speculation.

🟧 President Trump reportedly pardons three BitMEX co-founders who previously pleaded guilty to money laundering-related charges.

🟧 NFT market experiences significant decline in Q1 2025, with some collections like Pudgy Penguins and Doodles showing resilience.

Elon Musk Plays Corporate Chess with X and xAI

Elon Musk has just pulled off another head-turning maneuver by selling X (formerly Twitter) to his AI startup xAI in an all-stock transaction.

US judge rejecting Musk's attempt to dismiss a class-action lawsuit related to his initial Twitter investment. Adam Cochran, a partner at Cinneamhain Ventures, colorfully described the situation as making the lawsuit.

Musk values xAI at a whopping $80 billion and X at $33 billion, which includes $12 billion in debt. In his characteristic style, he's framing this as a match made in tech heaven. "xAI and X's futures are intertwined," Musk proclaimed, suggesting this merger will "accelerate human progress" - because why aim small when you can aim for planetary transformation?

The crown jewel of xAI is Grok, an AI chatbot Musk launched in November 2023, which he claims can outperform ChatGPT in academic tests. While some, like Cochran, criticize the $80 billion valuation as "insanely dumb," others like crypto developer "Keef" see potential, calling Grok "probably the top model for various tasks."

Some industry watchers suggest this move might be a strategic attempt to leverage X's massive user data for xAI's AI development.

Musk sells X to xAI for $80 billion

Lawsuit against Musk continues

Grok AI positioned as a key asset in the transaction

Vitalik Buterin Meows at a Robot and Breaks the Internet

Ethereum co-founder Vitalik Buterin has once again proven that he's not your typical tech billionaire by kneeling down and meowing at a robot - and the internet cannot handle it.

Crypto influencers are having a field day with this viral video. Wendy O summed up the collective sentiment perfectly: "The future of Ethereum is in this man's hands… Meow." It's a statement that's both hilarious and slightly terrifying, considering how much of the crypto ecosystem relies on Buterin's leadership.

The video shows Buterin in what can only be described as a surreal interaction with a four-legged robot, complete with a playful meow and a head pat. While Buterin himself remains silent about the clip, the crypto community is anything but. Trader Scott Crypto Warrior even urged followers to "Pray for our ETH bags" - because apparently, a meow can move markets these days!

Speaking of markets, Ether is currently trading at $1,841, down 13.34% over the past month. The cryptocurrency has dropped nearly 55% since reclaiming the $4,000 price level in December 2024. But some traders, like Alex Becker, see opportunity in the dip, calling it the "easiest asset trade in biblical history."

The crypto world's reaction perfectly encapsulates its unique blend of serious investment and internet meme culture. As one commentator, The Count of Monte Crypto, hilariously put it: "The fact that a vast majority of my investment relies on this guy is making me a bit stressed" - a sentiment that's both relatable and slightly unnerving.

Vitalik Buterin went viral for meowing at a robot

Ethereum's price continues to fluctuate

Crypto community finds humor in Buterin's quirky moment
RetryR

Donald Trump Pardons BitMEX Founders in Unexpected Twist

US President Donald Trump has reportedly issued pardons to three BitMEX co-founders who were previously caught in a legal whirlwind of financial misconduct.

Arthur Hayes, Benjamin Delo, and Samuel Reed - found themselves in hot water after pleading guilty to federal charges related to money laundering and Bank Secrecy Act violations back in 2022. At the time, they were forced to pay a whopping $30 million in penalties and faced various legal consequences, including home arrest and probation.

This isn't Trump's first rodeo with controversial pardons. He's previously extended clemency to over 1,500 individuals involved in the January 6th Capitol riots and even Ross Ulbricht of Silk Road fame. The crypto world is now abuzz with speculation about the motivations behind this latest pardon.

The BitMEX saga began in 2020 when US authorities charged the founders with serious financial regulatory violations. Hayes, who was the exchange's CEO, stepped down amid the legal battle. The exchange itself was hit with a massive $100 million consent payment to regulatory bodies, further cementing its infamous status in crypto history.

Interestingly, rumors have been swirling that other crypto figures, like former FTX CEO Sam Bankman-Fried (currently serving a 25-year prison sentence), have been attempting to curry favor with Trump for a potential pardon.

As of now, the White House remains tight-lipped about the details, leaving the crypto community to speculate and meme about this unexpected turn of events. One thing's for sure - in the wild world of crypto, nothing is ever truly predictable!

Trump pardons three BitMEX co-founders

Founders previously pleaded guilty to financial violations

Pardon comes after significant legal and financial penalties

NFT Market Crashes While Pudgy Penguins Swim to Success

The NFT world is experiencing a massive market cooldown in 2025, with overall sales plummeting a jaw-dropping 63% year-over-year. But don't write the obituary for digital collectibles just yet!

Total NFT sales crashed from $4.1 billion in Q1 2024 to a mere $1.5 billion in the first quarter of 2025. March was particularly brutal, with sales nosediving 76% to $373 million - enough to make even the most hardened crypto enthusiast wince.

Some big-name collections took a serious hit. CryptoPunks saw sales drop 47% to $60 million, while the Bored Ape Yacht Club experienced an even more dramatic 61% decline, limping to just $29.8 million in sales.

Pudgy Penguins waddled to the top, recording $72 million in sales - a 13% increase from last year.Doodles jumped to $32 million, potentially boosted by a McDonald's partnership that's adding some mainstream flavor.Milady Maker pulled off the most impressive feat, surging 58% in sales volume and catching attention across social media.

Meanwhile, Bitcoin NFTs tell a different story. Their average price has climbed to $633.24, up from $63.45 in 2023. However, total sales volume took a massive 79% nosedive to $291 million.

Charlie Hu from Bitlayer pulled no punches, calling Bitcoin Ordinals "one of the most overhyped narratives" and declaring that the golden era is "completely gone."

NFT market sales dropped 63% in Q1 2025

Pudgy Penguins and Doodles show surprising resilience

Bitcoin NFTs see price increase despite sales decline

And that's a wrap, my lovely PoI readers! 🌈 I hope this edition left you feeling informed, entertained, and maybe even a little bit smarter. Remember to stay curious, stay informed, and keep spreading the crypto 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! 📰🍨