Hey there, PoI readers! 🙌

It's your favorite newsletter nerd, Mochi, serving up another delicious platter of tech and web3 delights! From Microsoft's Bitcoin contemplation and Tether's mineral adventures to Ripple's legal gymnastics and OpenAI's executive musical chairs, we've got more drama than a season finale of your favorite show. Grab your favorite beverage, settle into your comfy chair, and let's dive into this week's most captivating stories! 🌐 ✨

INTEL BRIEF

🟧 Microsoft shareholders to vote on potential Bitcoin investments in December, while board maintains they already evaluate crypto assets.

🟧 Tether proposes boron-backed tokens to Turkish government, targeting the country's dominant 70% share of global reserves.

🟧 Ripple files Form C appeal against SEC's $125 million fine, challenging the Howey test application on XRP institutional sales.

🟧 OpenAI's AGI Readiness chief exits company amid growing executive exodus, citing need for unbiased research opportunities.

Microsoft Board Fights Back As Shareholders Demand Bitcoin Investment Plan

In what could be described as the ultimate "should we or shouldn't we" corporate drama, Microsoft shareholders are gearing up for a December 10 showdown over whether the tech giant should seriously consider adding Bitcoin to its treasure chest.

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The plot thickens as the National Center for Public Policy Research (NCPPR) - is leading this charge. They're pointing fingers at MicroStrategy's impressive 300% outperformance of Microsoft this year.

But hold onto your keyboards, because Microsoft's board is giving this proposal the corporate equivalent of an eye-roll. Their response? "Been there, thought about that!" They're claiming they already evaluate Bitcoin along with other investable assets, thank you very much. It's like when your mom says "we have Bitcoin at home" - except the Bitcoin at home is just an Excel spreadsheet about Bitcoin. 😅

Interestingly enough, Microsoft isn't completely crypto-allergic - they actually accepted Bitcoin payments at their Xbox store from 2014 to 2018. But these days, they're more interested in teaching robots to chat than watching crypto charts.

The NCPPR makes some interesting points, suggesting that even a tiny 1% Bitcoin allocation could be worth considering, especially with those fancy new spot Bitcoin ETFs making crypto more mainstream than a pumpkin spice latte. They're also waving the "inflation hedge" flag, though Bitcoin's price swings make roller coasters look like kiddie rides.

As of October 24, Microsoft's stock barely budged at $424.7, showing about as much movement as a Windows update progress bar (0.03% increase). While the crypto community eagerly awaits the December vote, Microsoft seems more focused on teaching AI to write poetry than adding Bitcoin to their balance sheet.

Microsoft shareholders will vote on December 10 about potentially evaluating Bitcoin investments

The board recommends voting against it, saying they already consider Bitcoin in their asset evaluations

NCPPR suggests even a 1% Bitcoin investment could be beneficial, citing MicroStrategy's 300% outperformance

Tether Eyes Turkish Mineral Wealth With 1.3 Billion Dollar Boron Token Proposal

Tether, our favorite stablecoin giant, is pulling a chemistry-meets-crypto move that would make Walter White jealous (minus the illegal stuff, of course). They're proposing to create digital tokens backed by boron to the Turkish government.

Turkey is sitting on a literal mother lode of boron, controlling more than 70% of the world's reserves. That's like having the world's biggest piggy bank, but instead of coins, it's full of minerals used in everything from your fancy ceramics to that fertilizer your neighbor won't stop talking about.

The Turkish government is eyeing some serious cash flow here, with projected boron sales of $1.3 billion in 2024. That's a lot of mineral wealth to potentially tokenize! However, Turkish officials are playing it cooler than a cucumber in a crisper drawer. While one official gave it the classic "not right now" response, another from the Energy Ministry hints that talks are still brewing.

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But wait, there's more! Tether isn't just stopping at boron tokens - they're also floating the idea of setting up a digital asset exchange in Istanbul. Talk about a power move! It's like saying, "Hey, we'll help you tokenize your rocks, AND we'll give you a place to trade them!"

Tether's been busy making friends in high places too. Their local expansion manager, Anadolu Aydinli, has been meeting everyone from the Vice President to the Energy Minister. It's like a crypto-diplomatic speed dating event!

The timing isn't random either. Turkey has emerged as one of the biggest stablecoin markets globally, with locals using digital dollars to dodge the local currency's volatility. Tether's CEO Paolo Ardoino is practically doing the happy dance about Turkey becoming a blockchain tech hub.

Tether proposed creating boron-backed tokens to Turkey, targeting the country's massive 70% share of global boron reserves

Turkey could potentially tokenize $1.3 billion worth of boron sales expected in 2024

Tether is deepening its presence in Turkey, proposing a new digital asset exchange in Istanbul while engaging with top government officials

Ripple Launches Fresh Attack Against SEC Over 125 Million Dollar Fine

In the never-ending saga of "Ripple vs SEC: Dawn of Justice" (okay, I made that last part up), Ripple Labs has just dropped a Form C appeal.

The story begins with a spicy $125 million fine that Ripple got slapped with in August for their institutional XRP sales. But Ripple's basically saying, "Hold my blockchain!" and challenging that ruling.

Stuart Alderoty, Ripple's chief legal officer and resident legal ninja, confirmed this move on X (formerly Twitter, for those living under a digital rock). He's particularly gleeful about one detail: the SEC can't submit new evidence or demand more from Ripple. It's like telling your little sibling "no backsies" in a game of tag!

The spiciest part? Ripple's requesting a "de novo" review, which is fancy legal speak for "let's pretend that last ruling never happened and start fresh." It's basically the legal equivalent of pressing the reset button on your Nintendo, but with billions of dollars at stake.

This legal chess match gets even more interesting when you consider that just a week earlier, the SEC filed their own appeal on October 16th. But plot twist - they're not fighting the whole "XRP isn't always a security" ruling. They're just hung up on those institutional sales like a cat that can't decide whether to go in or out the door.

Remember that massive win for Ripple in July 2023? That's when Judge Torres (the real MVP) ruled that XRP isn't a security when sold programmatically on exchanges. The crypto community celebrated harder than Bitcoin maximalists during a bull run!

The whole thing now hinges on the Howey test - that ancient legal framework that's about as old as my grandpa's vinyl collection but somehow still determining the fate of digital assets.

Ripple filed a Form C appeal challenging the $125 million fine and SEC's ruling on institutional XRP sales

The appeal requests a complete review (de novo) of how the Howey test was applied to institutional sales

Both Ripple and the SEC have now filed appeals, but the SEC isn't contesting the "XRP isn't always a security" ruling

OpenAI Loses Another Tech Star As Safety Chief Joins Mass Executive Exodus

Miles Brundage, OpenAI's safety guru and head of "AGI Readiness", has just dropped the mic and walked out the door. Plot twist: he's saying neither OpenAI nor the world is ready for artificial general intelligence.

But wait, it gets juicier! The AGI Readiness team is reportedly being disbanded, write me a breakup letter." This leaves OpenAI potentially skating without a dedicated safety department. It's like removing the guardrails from a self-driving car - what could possibly go wrong? 😅

Brundage, who's been with OpenAI since 2018 (that's like 50 years in AI company time), says he wants to "be less biased" and explore new horizons. He's already eyeing a potential collab with Brendan McCord's Cosmos Institute, because apparently, one AI safety organization just wasn't enough excitement.

But here's where it gets spicier than a ghost pepper in a hot sauce factory - OpenAI is experiencing what I like to call the "Great AI Migration." Let's count the exits, shall we?

• Jan Leike rage-quit in May after hitting his "breaking point" (relatable)

• Ilya Sutskever said "see ya" and started his own $5 billion AI company (casual flex)

• Andrej Karpathy bounced in February to do his own thing

• John Schulman jumped ship to Anthropic in August

• And now Mira Murati is reportedly cooking up her own AI venture

OpenAI's official response to Brundage's departure is so perfectly corporate, it's like they fed "please don't panic" to ChatGPT and hit generate. They're "fully supporting" his decision and are "deeply grateful" for his contributions. Translation: "This is fine. Everything is fine."

Miles Brundage quit as OpenAI's safety chief, saying neither the company nor the world is ready for AGI

The AGI Readiness team is reportedly being disbanded, potentially leaving OpenAI without a dedicated safety department

This exit joins a growing list of high-profile departures from OpenAI, with many former executives starting competing ventures

And that's all the digital tea I've got for you today, my wonderful PoI family! From corporate giants playing with Bitcoin to AI executives playing musical chairs, we've covered quite the spectrum. As always, I've had a blast being your guide through this wild tech landscape. Remember to keep your keys secure, your mind open, and your sense of humor ready - because in this industry, you never know what tomorrow might bring! 🎮 ✨

P.S. Drop us a line and let us know your thoughts! Are you team Microsoft-should-buy-Bitcoin? Or maybe you're planning your own boron-backed token? (Just kidding, please don't!) Share this newsletter with your crypto-curious friends and let's grow our PoI community together! 🔮 💫

🍨📰 Catch you in the next issue! 📰🍨