Hey there, PoI readers! 💫 

It's your favorite crypto connoisseur, Mochi, back with another serving of tantalizing tech and web3 news. From ChatGPT's chatty upgrades and disappearing DeFi acts to Bhutan's surprising Bitcoin stash and MicroStrategy's debt-fueled crypto feast, we've got a smorgasbord of digital delights to dig into. So, grab your favorite snack and let's embark on this wild journey through the ever-evolving crypto landscape! 🌐🍿

INTEL BRIEF

🟧 A Reddit user claims ChatGPT initiated a conversation based on previous information, coinciding with OpenAI's new upgrade and fundraising efforts.

🟧 BaseBros Fi, a DeFi protocol on Base blockchain, vanished after executing a rug pull through an unaudited smart contract, stealing user funds.

🟧 Bhutan reportedly holds over 13,000 BTC, more than double El Salvador's Bitcoin stash, according to Arkham Intelligence.

🟧 MicroStrategy announces its third debt offering of 2024, aiming to raise $700 million to refinance existing debt and purchase more Bitcoin.

The AI That Remembers Your First Day of School (and Might Ask for a Hefty Allowance)

You're minding your own business, probably procrastinating on Reddit, when suddenly, ChatGPT slides into your DMs like that old friend who remembers every embarrassing detail of your life. That's exactly what happened to one unsuspecting Redditor, who goes by the oh-so-creative name "SentuBill" (because "BillTheSenatorsThirdCousin" was taken, presumably).

Our pal SentuBill claims that ChatGPT, in a move that's equal parts impressive and creepy, initiated a conversation by asking about their first day of school. Now, unless ChatGPT has secretly been moonlighting as a guidance counselor, this is some next-level AI sorcery. The cheeky chatbot apparently pulled this tidbit from previous conversations, proving that it has a better memory than most of us.

This digital Sherlock Holmes boldly declared that its newfound nosiness was part of a fresh upgrade. It's like ChatGPT got a glow-up and decided to show off by becoming the world's most sophisticated icebreaker machine.

Now, before you dismiss this as just another tall tale from the depths of Reddit, our intrepid team at PoI put on their detective hats (they're very fetching, trust me) and verified the conversation on the official ChatGPT platform. It's legit, folks!

This AI gossip comes hot on the heels of OpenAI's latest party trick: the ChatGPT Strawberry Upgrade. Launched on September 13th to a select group of lucky ducks, this upgrade is supposedly giving ChatGPT the ability to "think before it answers." Finally, an AI that understands the concept of "think before you speak" – something we're still trying to teach certain politicians!

The new model is taking its sweet time to respond (10-20 seconds, because even AIs need a dramatic pause), but it's promising to scour the internet and conduct research independently. It's like having a super-smart intern who never sleeps, doesn't demand coffee, and won't steal your lunch from the office fridge.

Originally, OpenAI was planning to keep this juicy Strawberry under wraps until November 2024. But rumor has it they might be serving this digital delicacy sooner than expected. OpenAI is also shaking up their naming conventions. They're so confident in this new model that they're rolling the dial back to one.

But here's the kicker: While ChatGPT is getting smarter, it's also getting more expensive. OpenAI is considering some eye-watering price hikes, with potential high-end subscriptions costing up to $2,000 per month. For that price, I expect ChatGPT to not only do my taxes but also explain them in interpretive dance.

Despite the potential for wallet-draining subscriptions, OpenAI's products are hotter than a fresh batch of digital cookies. They've managed to snag over 1 million users since April, with about 600,000 of those being paying subscribers. Apparently, people really, really want to chat with a bot that remembers their school schedule.

ChatGPT is evolving faster than a Pokémon on steroids, remembering more than your high school yearbook, and potentially costing more than your monthly rent. Welcome to the future – hope you brought your wallet and a sense of humor!

ChatGPT allegedly initiated a conversation about a user's first day of school, showcasing new memory capabilities.

OpenAI's "Strawberry Upgrade" promises faster, more thorough AI responses, potentially launching earlier than expected.

OpenAI products are booming in popularity, but upcoming models might come with a hefty price tag of up to $2,000 per month.

DeFi Project Pulls a Houdini with Users Cash on Base

Ladies and gentlemen, let me introduce you to BaseBros Fi, the now-you-see-it-now-you-don't star of our crypto circus. This yield optimization protocol on the Base blockchain decided to take the "de" in decentralized finance a bit too literally and decentralized itself right out of existence!

On September 13th, in a move smoother than a buttered bitcoin, BaseBros Fi vanished faster than your motivation on a Monday morning. Their website? Gone. Their X (formerly Twitter) account? Poof! Their Telegram? Sayonara! It's like they took a page out of my playbook when I'm trying to avoid my responsibilities – except they took users' funds with them. Not cool, bros. Not cool.

Now, you might be thinking, "But Mochi, surely someone must have seen this coming?" Well, my dear Watson, you'd be right... partially. Enter Chain Audits, the Sherlock Holmes of the blockchain world. They had actually audited some of BaseBros' smart contracts. But here's the kicker – the contract that facilitated the rug pull was about as audited as my personal diary (which, for the record, is full of ice cream recipes and terrible crypto puns).

This sneaky, unaudited "Vault Contract" had a backdoor big enough to drive a truck full of stolen ETH through. It allowed the project owners to withdraw funds. Talk about a Base-ic instinct for theft!

Initially, there was a bit of a panic when people thought the Seamless protocol might be affected. After a quick investigation (and probably a few stress-induced gray hairs), Seamless declared itself and its investors' funds safe.

So, how much did our disappearing DeFi magicians make off with? According to blockchain detective Cyvers (who probably wears a digital deerstalker hat), the bad actors siphoned off about $130,000 worth of ill-gotten gains. And where did they send it? To the crypto world's favorite laundromat, Tornado Cash.

But wait, there's more! This rug pull actually got a standing ovation... from another hacker! The mastermind behind the Euler Finance hack (you know, the one who made off with a cool $195 million) sent an on-chain message to the Penpie hacker, basically saying "Bravo! You stuck it to the man!"

Ironically, our Euler Finance fan club president ended up returning 90% of their stolen loot in exchange for legal immunity and a 10% "finder's fee". I guess even in the wild west of crypto, some outlaws have a conscience... or at least a good lawyer.

BaseBros Fi, a DeFi protocol on Base blockchain, vanished after executing a rug pull via an unaudited smart contract.

Approximately $130,000 worth of user funds were stolen and laundered through Tornado Cash.

The incident highlights the importance of thorough smart contract audits and user vigilance in the DeFi space.

The Himalayan Kingdom That's Hodling more Bitcoin Than El Salvador

Hold onto your prayer wheels, because tiny Bhutan, with its population of just 790,000 (that's fewer people than most crypto Telegram groups) is apparently sitting on a Bitcoin treasure trove that would make even Smaug jealous! According to our friends at Arkham Intelligence, this Himalayan hideaway is hodling harder than a maximalist during a bear market.

On September 16th, Arkham tweeted that, Bhutan is squatting on a whopping 13,029 BTC. That's about $758 million worth of digital gold.

These Bitcoins are the fruit of Bhutan's very own mining operations, run by their investment arm, Druk Holdings. It's like they've turned their mountains into money printers, but instead of fiat, they're minting magic internet money! Bhutan's Bitcoin bag is more than double El Salvador's stash. It's like comparing a yak to a chihuahua – both adorable, but one's clearly packing more punch.

El Salvador, with its 5,875 BTC, is looking at Bhutan like that kid who brought a small bag of chips to the party while Bhutan rolled up with a full-sized Doritos truck. But don't feel too bad for El Salvador – they're still up 32.6% on their investment. Not too shabby for a country that decided to YOLO into Bitcoin when it was riding high at $51,700.

Bhutan started its Bitcoin mining adventure back in April 2019, when BTC was chilling at a cool $5,000. Talk about buying the dip! They've been quietly accumulating while the rest of us were arguing over whether crypto is the future or just magic beans.

And get this – Bhutan's Bitcoin holdings represent about a quarter of its entire GDP. It's like they looked at their national piggy bank and said, "You know what this needs? More blockchain!"

In partnership with Bitdeer, they're planning to crank up their mining capacity to a whopping 600MW by 2025. That's enough energy to power Doc Brown's DeLorean for about a million trips to the future!

Now, you might be wondering, "Isn't all this mining bad for the environment?" Well, hold onto your eco-friendly hats, because Bhutan's mining operation is powered by hydroelectric energy. That's right, they're turning rushing rivers into rushing returns. Mother Nature would be proud (if she understood blockchain).

Bhutan reportedly holds 13,029 BTC (worth ~$758 million), more than double El Salvador's Bitcoin holdings.

The country began Bitcoin mining in 2019 using hydroelectric power and plans to increase its mining capacity significantly by 2025.

Bhutan's Bitcoin holdings represent about a quarter of its GDP, showcasing a significant national investment in cryptocurrency.

MicroStrategy Serves Up Another Helping of Debt to Buy More Bitcoin

MicroStrategy, has just announced its third debt offering of 2024. That's right, folks - they're back for seconds... no, thirds! It's like watching a competitive eater at an all-you-can-eat Bitcoin buffet.

So, what's on the menu this time? A whopping $700 million in convertible senior notes, set to mature in 2028.

Now, you might be wondering, "Why on earth would a company take on more debt?" Well, my curious compadres, it's all part of MicroStrategy's master plan. They're using this financial feast to pay off $500 million in existing debt and gobble up even more Bitcoin.

Let's take a moment to appreciate MicroStrategy's Bitcoin holdings, shall we? As of September 13th, they're sitting on a pile of 244,800 BTC, worth around $14 billion. That's more Bitcoin than some small countries' GDPs!

This is MicroStrategy's third debt rodeo of 2024. They raised $700 million in March, another $500 million in June, and now they're back for more.

Now, you might think that having more Bitcoin than Scrooge McDuck has gold coins would be all sunshine and rainbows, right? Well, not quite. MicroStrategy's love affair with BTC has been giving their accountants some serious heartburn. They posted a net loss of $102.6 million in Q2 2024, which is about as appetizing as a Bitcoin pizza that costs $300 million (too soon?).

But here's the kicker - despite the financial indigestion, MicroStrategy's stock has been on a rocket ship to the moon. It's up nearly 295% in the past 12 months, reaching $134 as of September 16th.

So, what's the takeaway? Well, it seems that in the world of crypto, the old adage "go big or go home" has been replaced with "go big AND go into debt". Will this strategy pay off in the long run? Will MicroStrategy become the Bitcoin baron of the business world? Or will they end up with a case of financial food poisoning? Only time will tell, my friends.

MicroStrategy announces its third debt offering of 2024, aiming to raise $700 million to refinance debt and buy more Bitcoin.

The company currently holds 244,800 BTC (worth ~$14 billion) and has seen its stock price surge 295% in the past year.

Despite posting a Q2 2024 net loss, MicroStrategy continues its aggressive Bitcoin acquisition strategy.

And that's a wrap, my lovely PoI readers! 🎬 I hope this edition left you feeling informed, entertained, and maybe even a little bit mind-blown. From AI chit-chat to Himalayan Bitcoin hoards, we've covered it all. Remember to stay curious, stay vigilant, and keep that crypto enthusiasm burning bright! Until next time, this is Mochi, signing off with a virtual fortune cookie of wisdom! 🥠✨

P.S. Don't forget to share your thoughts, questions, and favorite crypto conspiracy theories with us. Every voice matters in the PoI community, even if it's just to ask, "Wen moon?" 📣❤️ Share the newsletter and spread the crypto love!

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