Hey there, PoI readers! 🎉 

Guess who's back with another scoop of delectable tech and web3 news? That's right, it's your favorite crypto connoisseur, Mochi! And let me tell you, we've got quite the lineup for our 90th newsletter today. 🎂 From Elon Musk's ultimatum to Apple over ChatGPT integration and an Aussie MP's bullish blockchain stance to Singapore's Bitcoin ransomware warning and Ethereum's identity crisis, we're diving deep into the juiciest stories. So, put on your thinking caps and get ready to explore the wild, wacky, and wonderful world of digital assets!

INTEL BRIEF

🟧 Elon Musk threatens to ban Apple devices at his companies if OpenAI's ChatGPT is integrated into Apple's operating systems, citing security and privacy concerns.

🟧 Australian Parliament Member Andrew Charlton believes blockchain technology could add $60 billion to the economy and reverse the country's stagnating productivity growth.

🟧 Singapore authorities warn local businesses about the rising threat of Akira ransomware, which has stolen millions from organizations worldwide, and advise against paying ransom to attackers.

🟧 Wintermute CEO Evgeny Gaevoy believes Ethereum leaders must choose between supporting capitalism or socialism, following recent comments by Vitalik Buterin and Hayden Adams on celebrity memecoins.

Musk's Ultimatum: Apple Devices Face Ban Over ChatGPT Integration

Elon Musk, is at it again! In a recent X post, the billionaire extraordinaire threatened to give Apple devices the boot from his companies if the tech giant dares to integrate OpenAI's ChatGPT into its operating systems. Musk, never one to mince words, called it an "unacceptable security violation" and even suggested that visitors to his company's headquarters might have to store their beloved iPhones in a Faraday cage. Talk about a warm welcome!

During Apple's recent Worldwide Developers Conference, the company unveiled "Apple Intelligence," a fancy new suite of generative AI features set to grace iOS 18, iPadOS 18, and macOS Sequoia later this year. One particularly intriguing feature will allow Siri to relay user questions to ChatGPT when needed, with the answer presented directly to the user. Sounds convenient, right?

Well, not according to Musk. He finds it "patently absurd" that Apple isn't smart enough to create its own AI and believes they're selling their customers down the river by outsourcing privacy and security. Musk even went as far as to say that Apple using the phrase "protect your privacy" while handing over data to a third-party AI is not protecting privacy at all.

However, it seems that Musk may have jumped the gun a bit, as he didn't provide any details on the privacy protections built into the OpenAI integration. This triggered the "readers added context" feature on X, which provided a link to Apple's press statement explaining that user IP addresses would remain obscured and OpenAI won't store requests.

Elon Musk threatens to ban Apple devices at his companies if ChatGPT is integrated into Apple's operating systems

Apple unveiled "Apple Intelligence," a suite of generative AI features, including Siri's ability to relay questions to ChatGPT

Musk believes Apple is compromising privacy and security by outsourcing to a third-party AI

Aussie MP's Blockchain Boost: $60B Potential for Economy

Australian Parliament Member Andrew Charlton has a plan to give the country's economy a much-needed shot in the arm. During Australia's Blockchain Week 2024 in Sydney, Charlton boldly declared that blockchain technology could add a whopping $60 billion to the economy and put an end to three decades of sluggish productivity growth.

According to Charlton, Australia's productivity growth has been limping along at a mere 0.9% in the final quarter of 2023, which simply won't cut it if the country wants to maintain basic increases in living standards. "We need this more than ever before," Charlton emphasized, making a strong case for increased blockchain adoption down under.

The pro-crypto politician believes that blockchain has the "rare ability" to not only improve its own industry but also revolutionize several others. From healthcare record management and tax collection to real estate and voting, the possibilities are endless. Charlton also highlighted blockchain's potential to streamline supply chains and financial transactions by reducing intermediaries and transaction times.

However, Charlton wasn't too thrilled with the Australian government's snail-like pace in developing digital asset regulation. "We have the strength to be a leader in responsible digital asset innovation," he said, "but the truth is, at the moment, we're not capturing this opportunity."

Australia has yet to pass any crypto-specific laws, and Charlton hopes the country will adopt a regulatory framework that allows businesses to hold digital assets just like traditional ones. He also wants the government to address the nation's tech skills shortage, which has hindered the growth of digital asset startups in recent years.

Charlton pointed to Singapore, Europe, Hong Kong, the UAE, and the UK as examples of countries leading the charge in implementing new legislation to drive digital asset innovation across financial services. It's time for Australia to step up and join the blockchain party!

Australian MP Andrew Charlton believes blockchain could add $60 billion to the economy and reverse stagnating productivity growth

Charlton advocates for increased blockchain adoption in various industries and the development of a regulatory framework

Australia has yet to pass crypto-specific laws, and Charlton wants the government to address the country's tech skills shortage

Singapore Sounds the Alarm: Beware of Bitcoin-Hungry Akira Ransomware

Akira ransomware has set its sights on businesses in Singapore! This nasty little bugger has already stolen a jaw-dropping $42 million from over 250 organizations across North America, Europe, and Australia within a year. Now, Singaporean authorities are sounding the alarm after receiving several complaints from victims of the cyberattack.

The Cyber Security Agency of Singapore, the Singapore Police Force, and the Personal Data Protection Commission have teamed up to issue a joint advisory, warning local businesses about the rising threat of an Akira ransomware variant. They've also provided some handy tips on how to detect, deter, and neutralize these pesky attacks.

Now, here's the kicker: if your business has been compromised, the authorities strongly advise against paying the ransom to the attackers, even if they demand payment in cryptocurrencies like Bitcoin. Why? Well, as they put it:

"Paying the ransom does not guarantee that the data will be decrypted or that threat actors will not publish your data."

Plus, those malicious entities might just come back for seconds, hoping to squeeze even more ransom out of you. The FBI has also found that Akira never contacts the victims first, instead expecting them to reach out. Talk about playing hard to get!

To help businesses fight back against these ransomware rascals, the authorities have recommended some threat mitigation techniques. These include implementing a recovery plan and multifactor authentication, filtering network traffic, disabling unused ports and hyperlinks, and using system-wide encryption.

In other cybersecurity news, Kaspersky recently discovered that North Korean hackers were targeting South Korean crypto businesses using Durian malware, which boasts "comprehensive backdoor functionality."

They also noted a possible connection between the Kimsuky hacking group and the infamous Lazarus Group.

Akira ransomware, which has stolen millions worldwide, is now targeting businesses in Singapore

Singapore authorities advise against paying ransom to attackers, even if demanded in cryptocurrencies like Bitcoin

Authorities provide threat mitigation techniques to help businesses protect themselves from ransomware attacks

Ethereum's Identity Crisis: Capitalism or Socialism? Wintermute CEO Weighs In

Seems like the Ethereum community is facing a bit of an identity crisis, and Wintermute CEO Evgeny Gaevoy isn't afraid to call them out on it! In a recent X post, Gaevoy declared that Ethereum leaders must choose between supporting a capitalist or socialist economic system, but they can't have their cake and eat it too.

"You are either building capitalism or planned socialism. I'm sorry, you really can't have both," Gaevoy stated, pointing the finger at Ethereum co-founder Vitalik Buterin, Uniswap founder Hayden Adams, and the wider Ethereum community.

According to Gaevoy, the "ETH elite" is stuck in a "massive contradiction" by claiming to want to build products that bring positive change to society while simultaneously trying to solve maximum extractable value (MEV). He argues that blockchain technology itself is "conductive to create purely capitalist incentive-based systems."

This heated debate comes on the heels of Buterin's recent comments on celebrity memecoins, where he expressed his dissatisfaction with the current cycle's experimentation. Buterin believes that a project's goal should be to leave participants feeling satisfied and happy, even if the tokens eventually become worthless. He also argued that financialization is only justified if it serves a purpose that brings value to society.

Meanwhile, Adams claimed to have "no issues" with celebrity memecoins but criticized rapper Iggy Azalea for her condescending remarks toward Buterin, whom he described as the "best builder in the space."

Speaking of Iggy Azalea, her Mother Iggy (MOTHER) token has been defying the failure trend seen in other celebrity memecoins. At the time of publication, MOTHER is trading at a new all-time high of $0.1522, according to CoinGecko data.

So, what's it going to be, Ethereum? Capitalism or socialism? What do you think? Let us know your thoughts.

Wintermute CEO Evgeny Gaevoy believes Ethereum leaders must choose between supporting capitalism or socialism

Gaevoy argues that the "ETH elite" is stuck in a contradiction by trying to build products for positive change while solving MEV

The debate follows recent comments by Vitalik Buterin and Hayden Adams on celebrity memecoins and their value to society

So, my brilliant PoI readers, that's a wrap for our 90th newsletter!
I hope this edition has left you feeling smarter, sassier, and maybe even a little bit hungry for some delicious ice cream in this hot summer♨️ As always, remember to stay curious, stay informed, and keep spreading the crypto love. Until next time, this is Mochi, signing off with a virtual fist bump and a sprinkle of powdered sugar! 👊👊

P.S. Don't be shy—share your thoughts, questions, and favorite blockchain puns with us. Now, go forth and share this newsletter like it's the last scoop of ice cream on a hot summer day! 🌞🍦

🍨📰 Catch you in the next issue! 📰🍨