Hey there, PoI readers! 💫 

It's your favorite crypto connoisseur, Mochi, back with another serving of tantalizing tech and web3 news. From CZ's prison release and Bedrock's unusual job offer to China's crypto curiosity and a billionaire's tax escape, we've got a lot to unpack. So, grab your digital spoons and let's dig into this crypto sundae! 🍨🔗

INTEL BRIEF

🟧 Binance founder CZ completes four-month prison sentence for AML violations and walks free.

🟧 Bedrock protocol offers job to hacker who exploited $2 million from its smart contract.

🟧 Former Chinese finance minister Lou Jiwei urges China to study cryptocurrency developments, especially in light of US Bitcoin ETF approvals.

🟧 Billionaire Christian Angermayer leaves UK for Lugano, Switzerland, citing unfavorable tax changes for non-doms.

CZ Walks Free as Binance Saga Takes a Wild Turn

Well, folks, it seems the crypto world's favorite billionaire, Changpeng "CZ" Zhao, has finally traded his prison jumpsuit for his usual t-shirt and jeans. The founder of Binance, the world's largest cryptocurrency exchange, has just completed a four-month stint in the slammer for some not-so-cool moves in the anti-money laundering (AML) department.

Now, you might be thinking, "Four months? That's barely enough time to binge-watch all seasons of 'Orange is the New Black'!" And you'd be right. It's a far cry from the 36 months the Department of Justice initially wanted to slap on our crypto kingpin. But hey, when you're worth a cool $60 billion, you can afford some pretty slick lawyers, am I right?

CZ's journey from the Dubai sunshine to California's minimum security prison reads like a bizarre tech tycoon version of "The Shawshank Redemption." He even got to spend his last two months in a halfway house in Long Beach, probably dreaming of blockchain while sipping on overpriced lattes during his supervised day trips.

But let's not forget why CZ ended up in this mess. Apparently, he forgot to dot some i's and cross some t's when it came to implementing proper AML controls at Binance.

The funny thing is, despite paying a $50 million fine and Binance coughing up a whopping $4.3 billion in penalties, CZ's personal piggy bank barely felt a dent. He's still sitting pretty with a 90% stake in Binance. Talk about failing upwards!

As CZ steps back into the free world, Binance seems to be doing just fine without him, boasting a jaw-dropping 230 million users globally. One can't help but wonder what's next for our crypto maestro. Maybe a Netflix special? "Orange is the New Blockchain," anyone?

CZ, Binance founder, completes 4-month prison sentence for AML violations

Binance paid $4.3 billion in penalties, CZ personally fined $50 million

CZ remains majority stakeholder in Binance, which now has 230 million users globally

Bedrock Offers Job to Hacker After 2 Million Dollar Heist

After losing a cool $2 million in a smart contract exploit, Bedrock didn't just lick its wounds – oh no, it decided to offer the hacker a job. Talk about turning lemons into blockchain-flavored lemonade!

Picture this: You're a hacker, minding your own business (which happens to be exploiting smart contracts), when suddenly the very protocol you just robbed slides into your DMs with a job offer.

The drama unfolded when Web3 security firm Dedaub spotted a vulnerability in Bedrock's uniBTC vaults. They tried to warn Bedrock, but apparently, the protocol was too busy to check its "Urgent Security Threats" inbox. Before they could react. The hacker had made off with $2 million. But here's the kicker – they could have snagged up to $75 million!

In a move that screams either desperation or genius (or perhaps a bit of both), Bedrock sent the hacker an on-chain message that basically said, "Hey, wanna job?" They even threw in a reward, probably hoping the hacker would be so touched by their entrepreneurial spirit that they'd return the stolen funds with a thank-you note.

As of now, the hacker hasn't responded. Maybe they're updating their LinkedIn profile or practicing their "Why I Want to Work Here" speech. Or perhaps they're just laughing all the way to their digital bank.

Meanwhile, Bedrock is assuring its users that the remaining funds are safe. Because nothing says "trust us with your money" quite like getting robbed and then trying to hire the robber, right?

In the grand tradition of crypto capers, this whole saga reminds us of Shezmu's recent $5 million recovery through on-chain negotiation. They managed to sweet-talk their hacker into returning the funds for a 20% bounty. Maybe Bedrock should've led with the bounty instead of the job offer.

Bedrock lost $2 million in a smart contract exploit

The protocol offered the hacker a job to help secure its system

The hacker hasn't responded to the unusual job offer (yet)

China Rethinks Crypto as Former Finance Minister Urges Bitcoin Study

Former Chinese finance minister Lou Jiwei has decided it's high time for China to stop giving the cold shoulder to cryptocurrencies and start paying attention. It's like your grandpa suddenly asking you to explain TikTok – unexpected, but kind of exciting!

At the 2024 Tsinghua Wudaokou Chief Economists Forum (try saying that five times fast), Lou dropped some truthbombs that had economists choking on their fortune cookies. He suggested that China should closely examine advancements in cryptocurrency.

Now, before you start imagining Chairman Mao on a Dogecoin, Lou's not exactly singing "Crypto Rhapsody" here. He's more like that cautious friend who wants to dip their toe in the pool before cannonballing. Lou pointed out the potential risks crypto poses to financial stability, including its notorious volatility and its reputation as the preferred currency of digital ne'er-do-wells.

But here's the kicker – Lou's got his eye on Uncle Sam. He's noticed that the US has gone from "crypto is the devil" to "Bitcoin ETFs for everyone!" It's like watching your arch-nemesis start dating your ex – you can't help but pay attention.

Despite China's 2021 blanket ban on Bitcoin mining and trading (which was about as effective as trying to ban memes), the country still controls over 55% of the Bitcoin mining network via mining pools. Talk about a long-distance relationship!

However, this crypto dominance might be slipping away. US mining firms are slowly but surely gaining ground, managing around 40% of all Bitcoin mining operations. It's like watching a really slow, really nerdy version of Risk.

Former Chinese finance minister urges study of cryptocurrency developments

US approval of Bitcoin ETFs cited as a reason for China to reassess its stance

China still dominates 55% of Bitcoin mining, but US firms are catching up

Billionaire Flees UK Tax Changes for Swiss Bitcoin Haven

Christian Angermayer, a man who apparently never met a disruptive technology he didn't like. From Bitcoin to biotech to psychedelics, this guy's portfolio reads like a sci-fi novel's table of contents.

Angermayer, previously enjoying the UK's "non-dom" status (which sounds like a fancy way of saying "I'm here but not really"), has packed his bags and headed to Lugano, Switzerland. Why Lugano, you ask? Well, it's not just for the scenic lakes and excellent chocolate. This little Swiss town has become a veritable Bitcoin bonanza, with about 250 merchants happily accepting crypto payments. It's like a real-life version of Bitcoin City, minus the volcano and the laser eyes.

The catalyst for this high-stakes game of musical chairs? The UK's brilliant idea to squeeze more taxes out of its wealthy non-dom residents. Angermayer, never one to mince words, called the move "a bigger act of national self-harm than Brexit." Ouch! That's like telling someone their economic policy is uglier than their Brexit.

But don't shed too many tears for old Christian. He's landed in a town where Tether stablecoins are as common as Swiss Army knives, thanks to a partnership between the stablecoin issuer and local authorities. It's like they rolled out the red carpet, except it's probably a QR code.

Angermayer isn't just dabbling in crypto, though. Oh no, this is the guy who thinks Bitcoin and psychedelics have a common link in freeing people from governments and egos, respectively. I'm not sure if that's visionary thinking or just a really wild trip.

And just when you thought it couldn't get any more interesting, Angermayer is also backing the Enhanced Games, an Olympic alternative where performance-enhancing drugs are encouraged. Because why stop at disrupting finance when you can disrupt sports too, right?

So, as the UK waves goodbye to yet another billionaire, Lugano gains a colorful character who's as comfortable discussing Bitcoin as he is psychedelics. One thing's for sure: with Angermayer in town, Lugano's Bitcoin circular economy is about to get a whole lot more... circular.

Billionaire Christian Angermayer leaves UK for Lugano, Switzerland due to tax changes

Lugano is a Bitcoin-friendly city with 250 merchants accepting crypto payments

Angermayer invests in Bitcoin, biotech, psychedelics, and even a doping-friendly Olympics alternative

And that's a wrap, my lovely PoI readers! 🎬 I hope this edition left you feeling informed, entertained, and maybe even a little bit dizzy from all the twists and turns in the crypto world. Remember, in this digital Wild West, anything can happen – even hackers getting job offers! 🤠💻 Until next time, this is Mochi, signing off with a virtual high-five and a sprinkle of blockchain magic! 🙌✨

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

🍨📰 Catch you in the next issue! 📰🍨