Hey there, PoI readers! 💫

It's your favorite crypto connoisseur, Mochi, back with another serving of tantalizing tech and web3 news. From Bitcoin's dramatic Middle East tumble and major exchanges securing their EU golden tickets to heartwarming blockchain education initiatives and high-stakes legal battles that could reshape the entire industry, 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

🟧 Bitcoin dropped $2,000 as Middle East tensions escalated with Trump calling advisers to the situation room and urging Tehran evacuations.

🟧 Gemini and Coinbase are reportedly set to receive EU licenses under MiCA regulations, with Malta and Luxembourg respectively approving their applications.

🟧 Bitget partners with UNICEF Luxembourg for a three-year initiative to train 300,000 girls across eight countries in blockchain and STEM skills through gamified learning.

🟧 Paradigm filed an amicus brief supporting Tornado Cash co-founder Roman Storm, arguing that a guilty verdict could stifle crypto and fintech innovation by criminalizing software development.

Bitcoin Takes a $2K Nosedive as Trump Hits the Panic Button

Bitcoin decided to take an impromptu elevator ride straight down to the basement! Our favorite digital gold just shed a cool $2,000.

The crypto markets are having what we like to call a "moment" as Middle East tensions reached new heights on Monday night. Our boy Trump literally bounced from the G7 summit in Canada like he was late for a Marvel movie premiere, except this time the situation room wasn't serving popcorn.

According to Fox News, Trump had his National Security Council on speed dial for a White House Situation Room gathering. But here's where things got spicy - he dropped a Truth Social bombshell that probably made every crypto trader's heart skip a beat: "Everyone should immediately evacuate Tehran!"

Talk about your classic "sell the news" moment! Bitcoin, which was feeling pretty confident at $108,780 earlier in the day, suddenly found itself tumbling to $106,421 faster than a influencer's credibility during a rug pull. That's a 2% drop that hit harder than realizing you bought the top.

Meanwhile, Ethereum decided to one-up Bitcoin's drama with an almost 5% nosedive, dropping to support just above $2,500. The rest of the altcoin gang wasn't having it either, with losses ranging between 5-6% across the board. $400 million in leveraged positions got liquidated according to CoinGlass.

Even China and Russia are telling their citizens to pack their bags and leave Israel, which is basically the international equivalent of your mom telling you to come home before dark.

Bitcoin dropped $2,000 (2%) on Middle East escalation fears as Trump left G7 early

Ethereum fell nearly 5% while altcoins suffered 5-6% losses

$400M in leveraged positions liquidated as geopolitical tensions spike

Gemini and Coinbase About to Get Their EU Golden Tickets

Gemini and Coinbase are reportedly about to join the European Union's exclusive crypto club! According to Reuters, these two heavyweight exchanges are on the fast track to securing their MiCA licenses - and honestly, it's about time someone figured out how to navigate Europe's regulatory maze without getting lost.

Gemini is apparently getting the thumbs up from Malta, while Coinbase is cozying up to Luxembourg for their golden stamp of approval. A Coinbase spokesperson played it coy when asked for details but did throw some shade by calling Luxembourg a "well-respected global financial center" - which is basically corporate speak for "we're fancy now."

These two would be joining the cool kids' table alongside Bybit, who already scored their EU pass through Austria, and Binance, who updated their Polish operations. The MiCA framework officially kicked into high gear in June 2024, with full implementation rolling out in December after the European Securities and Markets Authority (ESMA) finally decided what the rules actually meant.

MiCA's stablecoin requirements have been causing more drama than a reality TV show! The regulations demand that stablecoin issuers park a "significant" portion of their reserves in European banks, which is precisely why Tether basically said "thanks, but no thanks" to the whole MiCA party.

Meanwhile, at least 10 other stablecoins have gotten the green light, including offerings from Circle, Crypto.com, and Société Générale. However, adoption has been more lukewarm than yesterday's coffee, with Italy's Fabio Panetta noting that folks are more interested in "custodial and trading services" than stablecoins themselves.

Gemini (Malta) and Coinbase (Luxembourg) expected to receive EU MiCA licenses soon

Tether refuses MiCA registration due to European bank reserve requirements

10+ stablecoins approved but adoption remains lukewarm across EU markets

Bitget and UNICEF Team Up to Turn 300K Girls Into Blockchain Boss Ladies

Bitget just inked a three-year deal with UNICEF Luxembourg that's about to turn 300,000 young women into blockchain-savvy tech queens across eight countries. And honestly? This might be the most heartwarming thing to happen in crypto since... well, ever!

The partnership brings Bitget into UNICEF's Game Changers Coalition, where they're joining forces with heavy hitters like the Global Video Game Coalition and Women in Games. Together, they're aiming to empower 1.1 million girls with tech and blockchain skills by 2027 - because apparently someone finally realized that teaching girls to code is more valuable than teaching them to... well, literally anything else society usually focuses on.

This whole operation is backed by Bitget's $10 million Blockchain4Her initiative, which sounds like the kind of program we should have had years ago. The initiative spans Armenia, Brazil, Cambodia, India, Kazakhstan, Malaysia, Morocco, and South Africa - basically a global blockchain boot camp for the next generation of female tech leaders.

Bitget CEO Gracy Chen dropped some sobering stats that'll make your jaw hit the floor: adolescent girls and young women in low and middle-income countries are missing out on an estimated $15 billion in economic opportunities annually due to limited internet access and digital skills. With 90% of jobs now demanding digital competencies, this partnership isn't just nice-to-have - it's absolutely crucial.

They're using gamification to teach blockchain fundamentals through video game creation. As Chen put it, with roughly 3.3 billion people worldwide playing games, learning through interactive environments just makes sense. Bitget Academy is designing UNICEF's first interactive blockchain training module, combining online and in-person sessions that actually sound... fun?

Bitget + UNICEF targeting 300K girls across 8 countries with blockchain/STEM training

$10M Blockchain4Her initiative addresses $15B annual economic opportunity gap

Gamified learning approach uses video game creation to teach blockchain fundamentals

Paradigm Files Legal Brief to Save Tornado Cash Developer from Prison Time

Paradigm just swooped into the Roman Storm/Tornado Cash case like a legal superhero with a briefcase! The venture capital giant filed an amicus brief in a New York District court, basically telling the jury "Hey, maybe let's understand what we're actually prosecuting here before we accidentally criminalize every software developer on the planet."

Roman Storm, co-founder of the Tornado Cash crypto mixing protocol, is facing charges for allegedly running an unlicensed money-transmitting business. But here's where things get spicier than a jalapeño martini - Paradigm's chief legal officer Katie Biber and general counsel Gina Moon are arguing that the prosecution's case is more twisted than a pretzel factory explosion.

Tornado Cash is non-custodial, meaning the developers never actually hold or control user funds. The US Treasury Department even found back in 2014 (under Obama, no less) that software development doesn't constitute acceptance and transmission of value.

Biber and Moon dropped some serious legal knowledge bombs, pointing out that this case could absolutely devastate innovation in crypto, fintech, and beyond. They painted a picture scarier than a horror movie: software developers being held liable for how people use their products. As they put it, this logic is "as absurd as prosecuting a television manufacturer for the sharing of state secrets on-air, leather wallet craftsmen for wallets holding stolen cash, or Apple for conspiracies formed through iPhone conversations."

The Department of Justice already dropped one conspiracy charge in May after releasing an April memo saying they wouldn't prosecute crypto mixers like Tornado Cash for users' activities. Storm and co-founder Roman Semenov were originally charged in August 2023 for allegedly helping launder over $1 billion through the platform.

Paradigm argues prosecuting Storm could criminalize all software development

Tornado Cash is non-custodial - developers never control user funds

Trial starts July 14 with major implications for crypto innovation and open-source development

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 geopolitical crypto crashes to regulatory victories and inspiring educational partnerships, today's stories remind us why this space never stops being fascinating. Remember to stay curious, stay informed, and keep spreading the love. Until next time, this is Mochi, signing off with a virtual high-five!

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