Hey there, PoI readers! 💫 

It's your favorite crypto connoisseur, Mochi, serving up another delectable feast of digital delights! From Florida's pension fund Bitcoin dreams to presidential interventions in Nigeria, we've got some juicy stories that'll make your crypto wallet tingle with excitement. Plus, Visa and Coinbase are cooking up something special, while our Canadian friends are giving us their honest thoughts about digital dollars. So grab your favorite beverage, settle in, and let's dive into this week's most captivating crypto chronicles! 🌐 💎 ⚡

INTEL BRIEF

🟧 Florida's CFO Jimmy Patronis advocates for Bitcoin investment in state pension funds, following other states' cryptocurrency adoption trends.

🟧 US President Biden expressed gratitude to Nigerian President Tinubu for releasing Binance executive Tigran Gambaryan after eight months of detention and deteriorating health conditions.

🟧 Visa and Coinbase announce partnership enabling instant crypto transactions for eligible Visa debit cardholders in the US and EU.

🟧 Bank of Canada's research reveals Canadians remain hesitant about adopting a digital dollar, preferring traditional payment methods despite showing some interest in CBDC concept.

Florida Wants To Gamble 205 Billion Dollar Pension Fund On Bitcoin While Trump Watches

Florida's CFO Jimmy Patronis is stirring the crypto pot with a fresh proposal that could add some Bitcoin flavor to the state's retirement fund menu. In a letter dated October 29th to the Florida State Board of Administration (SBA), Patronis is pushing for what he calls "digital gold" to join the investment party. And let me tell you, we're not talking about small potatoes here - the Florida Retirement System Trust Fund is sitting on a whopping $205 billion in assets!

Here's where it gets interesting: Patronis is suggesting a "Digital Currency Investment Pilot Program" as part of the Florida Growth Fund. For those of you counting coins, this fund can play with up to 1.5% of the retirement trust fund's assets. (Last year, they invested nearly $1 billion in high-growth investments - talk about a shopping spree!)

But wait, there's more! This move is believed to be riding the wave of Donald Trump's national Bitcoin stockpile plans, showing that the crypto fever might be spreading faster than a Florida summer wildfire. Patronis is particularly excited about Bitcoin's potential to act as a hedge against traditional asset volatility - kind of like how Floridians keep hurricane supplies, but for their investment portfolio!

What's super intriguing is that Florida wouldn't be the first state to jump on this crypto train. Wisconsin and Michigan have already dipped their toes in the digital asset pool, with Wisconsin putting $164 million into spot Bitcoin ETFs (about 0.1% of their total assets), while Michigan went for a more conservative approach with their ARK 21Shares ETF investment (0.003% of assets).

The proposal is especially spicy considering it aligns with Governor Ron DeSantis's anti-CBDC stance, positioning crypto as the "antithesis" of central currency. Talk about making a statement!

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Florida CFO wants to add Bitcoin to state pension funds, requesting a feasibility report before March 2025

Proposal suggests creating a pilot program under the Florida Growth Fund, which can use up to 1.5% of the $205B retirement fund

Other states like Wisconsin and Michigan have already invested in crypto through various ETFs, setting a precedent

Binance Executive Breaks Free From Nigerian Prison After Biden Makes The Call

Tigran Gambaryan, Binance's head of financial crime compliance (oh, the irony!), finally got his ticket home after spending what must have felt like an eternity (actually eight months) in Nigerian custody. The plot twist? It took President Biden himself getting on the phone with Nigerian President Tinubu to thank him for the humanitarian release of our guy Tigran!

Now, let me paint you a picture of this wild ride. Back in February, Gambaryan and his colleague Nadeem Anjarwalla flew into Abuja for what they thought would be a routine meeting about some "suspicious flows" at Binance. Instead, they got a surprise extended stay at the notorious Kuje Prison! And here's where it gets even spicier - Anjarwalla pulled off what sounds like a scene from Prison Break, reportedly escaping to Kenya in March, while Gambaryan stayed behind to face the music.

Speaking of facing the music, our former IRS special agent wasn't exactly living the high life. Reports suggest he was dealing with a nasty cocktail of health issues - pneumonia, malaria, and spinal problems (talk about bad luck trifecta!). Even Binance CEO Richard Teng got fired up about it, demanding an end to the "inhumane treatment" after a video showed Gambaryan struggling to walk to court.

The good news? All charges were eventually dropped - tax evasion went poof in June, and money laundering charges disappeared in a bear market this October. Within 24 hours of becoming a free man, Gambaryan was on his way back to the US.

Binance executive Tigran Gambaryan was released from Nigerian custody after 8 months of detention and serious health issues

His colleague Anjarwalla escaped to Kenya while Gambaryan remained to face charges that were eventually dropped

President Biden personally thanked Nigerian President Tinubu for the humanitarian release

Your Visa Card Will Now Buy Crypto Instantly Thanks To Massive Coinbase Partnership

Visa and Coinbase just dropped a collaboration that's hotter than your phone after mining Bitcoin! In an announcement that's got the crypto community buzzing like a caffeinated bee, these two financial powerhouses are teaming up to make crypto transactions smoother than a freshly minted NFT.

If you're one of the millions of Coinbase users with a Visa debit card (and you're chillin' in the US or EU), you're about to get some serious superpowers! We're talking instant deposits, withdrawals, and crypto purchases.

As Yanilsa Gonzalez Ore (Visa Direct's North American head honcho) puts it, this means you can "take advantage of trading opportunities day and night." Translation: No more missing out on those sweet dips because your funds are stuck in transfer limbo!

What's particularly interesting is the timing of this announcement. It's like finding an oasis in a desert - coming during what many consider a crypto offerings drought from traditional finance firms (thanks a lot, FTX drama! 👀). But here's where it gets spicy: With the EU's MiCA regulations rolling out and millions being spent on US crypto lobbying, it looks like the tide might be turning!

And let's not forget - this isn't Visa's first crypto rodeo! They've been powering Coinbase's crypto debit cards for a while now, and they just inked a similar deal with FV Bank on October 28th. It's like Visa is collecting crypto partnerships like I collect trading losses (kidding... mostly 😅).

Instant crypto transactions coming to eligible Visa debit card holders using Coinbase in US and EU

Partnership enables real-time deposits, withdrawals, and crypto purchases, subject to bank and regional availability

Visa continues expanding its crypto presence with multiple partnerships, including recent FV Bank deal

Canada Friendzones Their Digital Dollar As Citizens Refuse To Let Go Of Cash

The Bank of Canada just annouced some fascinating research that shows our northern neighbors are playing it cooler than a frozen maple leaf when it comes to CBDCs. Get this: while 42% of Canadians are giving the digital dollar idea a polite thumbs up (how Canadian of them!)

Here's a number that'll make crypto enthusiasts spill their coffee: Less than 3% of Canadians have used Bitcoin or other cryptocurrencies for everyday purchases since 2022. Talk about a chilly reception!

But here's where it gets interesting - Canadians aren't saying "no" exactly; they're more like saying "show me the money... but make it perfect!" They've got a wish list longer than a moose's antlers for this digital dollar:

• Flawless reliability from day one (no pressure!)

• Privacy protection tighter than a beaver's dam

• Security stronger than a hockey player's slapshot

• User experience smoother than ice in a curling rink

The Bank of Canada has taken the hint and is now "scaling down" its CBDC work. They're not alone in this digital currency cool-down - Australia and Colombia are also hitting the pause button on their CBDC plans.

Interestingly, most Canadians aren't too fussed about offline functionality - apparently, when the power goes out, they're happy to stick with good old-fashioned cash. (Because nothing says emergency preparedness like a wallet full of colorful bills!)

42% of Canadians view digital dollar positively, but still heavily prefer traditional payment methods

Bank of Canada is scaling back CBDC development due to lukewarm reception and adoption concerns

Canadians demand perfect functionality and security from day one for any potential CBDC adoption

And that's a wrap, my lovely PoI readers! 🎯 Whether you're feeling bullish about Florida's crypto pension plans, relieved about Binance's exec release, excited about Visa's new crypto superpowers, or nodding along with our cautious Canadian friends, I hope this edition gave you plenty to think about! Remember to stay curious, stay smart, and keep that crypto spirit alive! Until next time, this is Mochi, your favorite ice-cream-named crypto enthusiast, signing off with a virtual high-five! 🙌 ✨

P.S. Share the newsletter with your crypto-curious friends and let's grow this amazing community together! 🌟 💫

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