Hey there, PoI readers! 💫

It's your favorite ice cream-inspired crypto writer, Mochi, serving up today's freshest scoop of web3 drama! From Kanye West turning down millions to keep his integrity, to quantum computing threatening our digital wallets (but not really), we've got some seriously juicy stories today.
Grab your favorite snack, because this edition is spicier than wasabi ice cream!

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INTEL BRIEF

🟧 Kanye West publicly reveals he turned down a $2M crypto scam offer that would have involved deceiving his followers through a fake account hack scheme.

🟧 Tornado Cash developer Alexey Pertsev has been released from prison to house arrest amid ongoing legal battles and recent US court decisions overturning sanctions against the privacy protocol.

🟧 Florida Senator Joe Gruters proposes legislation to invest up to 10% of state funds in Bitcoin as an inflation hedge, joining a growing trend among US states.

🟧 Tether CEO predicts quantum computing will eventually crack "lost" Bitcoin wallets, though experts agree this possibility remains far in the future.

Leaked Messages Show How Scammers Offered Kanye West $2M For Fake Crypto Hack

Kanye West (aka Ye) just exposed a sketchy $2 million offer he allegedly received to participate in what appears to be the oldest trick in the crypto scam playbook. The deal? Post some sus crypto promo to his 32.6 million followers, pretend to get "hacked" later, and walk away with a fat stack of cash while his fans potentially lose their shirts. Talk about a deal with the digital devil!

The proposed scheme was apparently more detailed than my favorite boba order: $750,000 upfront for keeping the promotional post up for 8 hours, followed by a tasty $1.25 million dessert 16 hours later. But Ye, showing more restraint than a kid in a candy store, said "thanks, but no thanks" to this questionable crypto cake.

In true Ye fashion, he didn't just spill the tea – he dumped the whole teapot! He shared screenshots of the proposal and even showed a conversation where he was seeking legitimate crypto connections, name-dropping Coinbase CEO Brian Armstrong in the process.

This revelation comes at an interesting time in the celebrity crypto space, with recent headlines featuring everything from the HAWK memecoin drama (featuring Haliey Welch's first appearance after a two-month silence that we’ll talk about later) to the Trump family's dueling memecoins (yes, even Melania got in on the action, causing papa Trump's token to drop 38%).

Crypto commentators are having a field day with this one. Some suggest Ye should stick to selling merch through crypto (smart!), while others speculate this might just be some galaxy-brain marketing for his upcoming album. Either way, it's refreshing to see someone choose their community over their wallet – even if that wallet would've been $2 million heavier!

Kanye West rejected a $2M offer to participate in a crypto scam targeting his followers

The scam would have involved a fake hack claim after 8 hours of promoting a "fake ye currency"

KThis revelation comes amid a wave of celebrity token launches and crashes, including Trump and HAWK memecoins

Tornado Cash Developer Finally Released As US Government Makes Shocking Decision

Alexey Pertsev, the developer behind Tornado Cash, has finally traded his prison jumpsuit for some comfy house slippers after being released on February 7th. But before you pop the champagne, hold onto your hardware wallets – he's still under electronic monitoring and house arrest while preparing his legal appeal. As Pertsev himself noted with what I imagine was a heavy sigh: "It is not real freedom, but it is better than prison."

Our protagonist was found guilty of money laundering in May 2024 by the 's-Hertogenbosch Court of Appeal and got slapped with a five-year-and-four-month prison sentence. Plot twist? The developers had zero control over the funds or protocol they created!

The US Treasury's OFAC initially claimed Tornado Cash was used to launder a whopping $7 billion in illicit funds (including $455 million allegedly stolen by our least favorite crypto enthusiasts, the Lazarus group).US Fifth Circuit Appeals Court ruled that OFAC overstepped its bounds because, surprise surprise, immutable code isn't property!

In January 2025, the US District Court officially overturned the Tornado Cash sanctions, sending privacy advocates into a happy dance that probably looked a lot like my victory dance when my transactions finally clear.

Alexey Pertsev released to house arrest with electronic monitoring after 18 months in prison

Originally sentenced to 5+ years for money laundering despite having no control over protocol usage

US courts overturned OFAC sanctions against Tornado Cash, setting major precedents for privacy tools

Florida Government Shocks Crypto World With Massive 10 Percent Bitcoin Investment Plan

Florida Republican Senator Joe Gruters just dropped a bill proposing to let the Sunshine State park some of its cash in Bitcoin and other digital assets. Why? Because apparently, inflation is eating away at Florida's purchasing power.

Florida isn't trying to be a crypto pioneer here – they're actually playing catch-up! When Kentucky joined the party on February 6th, it became the 16th US state to propose similar legislation.

Senator Gruters is bringing some serious backing to his argument, name-dropping financial heavyweights like BlackRock, Fidelity, and Franklin Templeton who've already jumped on the Bitcoin bandwagon.

The proposal would give Jimmy Patronis, Florida's chief financial officer (who's already been eyeing Bitcoin for the state's retirement funds), the green light to invest up to 10% of various state funds in crypto.

Patronis himself seems to be vibing with the idea, previously calling Bitcoin "digital gold" in an October letter. Which, let's be honest, is a lot more exciting than regular gold – when's the last time you saw a gold bar do a 40% price swing in a month?

Florida proposes bill to invest up to 10% of state funds in Bitcoin as an inflation hedge

Florida would join 16 other US states considering similar Bitcoin reserve legislation

State CFO Jimmy Patronis supports the move, previously advocating for Bitcoin in retirement funds

Your Bitcoin Could Be At Risk After Tether CEO Makes Alarming Quantum Computing Predictions

Paolo Ardoino, Tether's CEO and apparently part-time future predictor, just dropped a quantum bomb on crypto Twitter that's got everyone's digital panties in a twist. He's suggesting that quantum computing will eventually be like that friend who knows how to pick locks – except instead of your apartment, it'll be cracking into those long-lost Bitcoin wallets!

But before you start panic-selling your Bitcoin here's the scoop: this isn't happening anytime soon.

Ardoino claims even Satoshi's wallet (assuming they're not sipping mai tais somewhere) could be cracked open like a digital piñata! This had Crypto Skull (and their 140,500 followers) practically hyperventilating, warning it could send us back to the "stone age" – though I'm pretty sure they still had rocks back then, not Bitcoin.

Even billionaire Chamath Palihapitiya chimed in with his two satoshis, suggesting Bitcoin holders should "plan accordingly." For all you science nerds out there, we're talking about Grover's search algorithm, which needs "millions of qubits" to crack Bitcoin's cryptography.

Quantum computing could eventually crack inactive Bitcoin wallets, but it's still far from being a real threat

Active wallets will likely upgrade to quantum-resistant protection before any risk materializes

Experts suggest early planning for quantum resistance while maintaining this is a distant future concern

And that's today's digital digest, my amazing PoI fam! From celebrity integrity to quantum computing threats, we've covered more ground than a blockchain validator! Remember, whether you're a Florida state senator planning to buy Bitcoin or just someone trying to keep your wallet quantum-proof (in a few decades), you're part of this wild crypto journey!

Until tomorrow, this is Mochi, your favorite ice cream-flavored crypto writer, melting away!

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

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