Hey there, PoI readers! 💫

It's your favorite tech-savvy treat, Mochi, serving up another delicious platter of digital drama! From SEC showdowns and stablecoin surprises to cybersecurity shake-ups and social media shenanigans, we've got a feast for your curious minds. Today's menu features Elon's $150M Twitter tango, USDC's spectacular comeback, UK's cyber-defense masterplan, and Meta's fact-checking fiasco! So grab your favorite beverage and let's dive into this week's juiciest tech tales!

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INTEL BRIEF

🟧 SEC files lawsuit against Elon Musk over alleged delayed disclosure of Twitter stock ownership in 2022, claiming he underpaid investors by $150 million.

🟧 Circle's USDC stablecoin achieved remarkable 78% growth in 2024, outpacing all competitors including Tether's USDT, marking a strong recovery from its 2023 SVB-related decline.

🟧 UK government proposes ban on ransomware payments for critical infrastructure operators and public sector bodies to combat rising cyber threats.

🟧 Meta clarifies its fact-checking removal only applies to US platforms for now, drawing sharp criticism from Brazil's government over potential misinformation concerns.

Musk Faces SEC Heat Over Secret 150M Dollar Twitter Stock Play

According to the SEC's January 14 filing, Musk allegedly missed the 10-day deadline to report owning more than 5% of Twitter's stock, instead filing 11 days after the due date on April 4, 2022. This tardiness is believed to have allowed him to continue shopping for shares at bargain-basement prices, allegedly resulting in about $150 million in savings that could have gone to other Twitter investors. That's enough money to buy several lifetime supplies of premium bird food for Twitter's former mascot!

The plot thickens with some interesting timing - the lawsuit arrives just before an SEC leadership change, with Chair Gary Gensler preparing to step down on January 20. Meanwhile, Musk isn't taking this lying down. In his characteristic style, he fired back on X (formerly Twitter), calling the SEC a "totally broken organization" focused on the wrong priorities. His lawyer, Alex Spiro, dismissed the case as a "ticky tak complaint" and part of what he claims is the SEC's "multi-year campaign of harassment."

For those keeping score at home, this drama preceded Musk's eventual $44 billion Twitter acquisition in April 2022, after which he transformed it into X, showed half the staff the door, and gave its content policies a rather dramatic makeover. The SEC is now gunning for a jury trial and wants Musk to return his alleged "unjust enrichment" plus a civil penalty - talk about an expensive game of administrative hot potato!

SEC claims Musk failed to timely disclose his 5%+ Twitter stake in 2022, allegedly saving $150M in purchase costs

Lawsuit filed just before SEC leadership change, with Musk and his lawyer dismissing it as harassment

SEC seeks jury trial and wants Musk to pay back gains plus penalties

USDC Leaves Tether In The Dust With Record Breaking 2024 Growth

USDC kicked off 2024 at a modest $24.4 billion market cap and skyrocketed to $43.9 billion by year's end. Meanwhile, the reigning champ Tether (USDT) grew by about 50%, reaching $137.5 billion. Not too shabby, but USDC clearly had its protein shake that morning!

What's behind this stellar performance? Circle is pointing to three secret ingredients: regulatory clarity (boring but important), scalable blockchain infrastructure (techie stuff), and their obsession with trust and transparency (always a crowd-pleaser). They're particularly proud of becoming the first MiCA-licensed stablecoin issuer in Europe – talk about overachieving!

But here's the plot twist: despite this impressive growth spurt, USDC is still 22% shy of its all-time high of $55.9 billion from June 2022. It's like when you're trying to reach the top shelf at the grocery store – almost there, but not quite!

Looking ahead to 2025, Circle's got its eyes on some fresh territory, with regulatory developments cooking in the UK, Brazil, Singapore, and Japan. They're already serving up USDC in more than 180 countries, aiming to help 1.5 billion unbanked folks globally. Now that's what I call a mission worth stabilizing for!

USDC achieved 78% growth in 2024, outpacing all other stablecoins including USDT's 50% growth

Circle credits regulatory clarity, blockchain infrastructure, and transparency for USDC's comeback

Despite impressive growth, USDC remains 22% below its all-time high, while USDT hit new records

UK Drops Nuclear Option On Cyber Criminals With Complete Ransom Ban

The UK government is taking a rather spicy stance against cybercriminals with a new proposal to ban ransomware payments for critical infrastructure operators and public sector bodies. Think of it as a national "we don't negotiate with cyber terrorists" policy, but with a British accent!

The Home Office dropped this bombshell on January 14, suggesting a "targeted ban" that would cover everything from energy providers to health services and local councils. It's like telling the cyber bad guys, "Sorry mate, the ATM is closed!" The proposal expands on an existing ban that already applies to government departments, making it a proper family affair.

And they're not just throwing this idea out there for fun - the stats are scarier than a corrupted hard drive! The National Cyber Security Centre handled 430 cyber incidents in the year ending August 2024, with 13 "nationally significant" incidents that were about as welcome as a virus in your email inbox. We're talking about attacks that hit everything from a London hospital supplier to the Royal Mail, causing more disruption than a cat walking across your keyboard.

Security Minister Dan Jarvis says this move aims to protect national security by cutting off the criminals' financial pipeline. The proposal also includes a fancy "ransomware payment prevention regime" (try saying that five times fast) and mandatory reporting requirements, because if you're going to get cyber-bullied, at least tell someone about it!

The consultation period runs until April 8, giving everyone plenty of time to share their thoughts on this digital showdown. Meanwhile, Australia and the US have been eyeing similar bans, making this an international game of cyber-security hot potato!

UK proposes ban on ransomware payments for critical infrastructure and public sector organizations

National Cyber Security Centre reported 430 cyber incidents in 2024, including 13 major attacks

Proposal includes payment prevention regime and mandatory reporting requirements, with consultation running until April 8

Brazil Slams Meta As Fact Check Removal Creates Global Drama

Meta has confirmed that its fact-checking feature will only be removed in the United States (for now), following a rather stern "explain yourself" letter from Brazil's government.

The social media giant dropped this clarification bomb in a January 13 letter to Brazil's Attorney General of the Union (AGU), after Brazil gave them a 72-hour deadline to explain themselves). This all started when Meta announced their plans to ditch fact-checking in favor of more "freedom of expression" on January 7 – because apparently, fact-checking and freedom of expression are like oil and water in Meta's cookbook!

Instead of traditional fact-checking, Meta plans to roll out a community notes feature in the US (sound familiar, X users?). They're calling it a better balance between freedom and security, kind of like trying to eat ice cream while doing yoga – tricky but possible!

But here's where it gets spicy: Brazil's Attorney-General Jorge Messias isn't having any of it. In fact, he's made it crystal clear that Brazil won't let its digital space turn into what he colorfully described as "digital carnage or barbarity." That's some strong language that would make even a spellchecker blush!

Meanwhile, Meta's head honcho Mark Zuckerberg is reportedly planning to cozy up with the incoming Trump administration to push back against foreign governments trying to enforce more censorship on US companies.

Meta confirms fact-checking removal only applies to US platforms, will test community notes feature first

Brazil's government strongly opposes the change, demanding protection against "digital carnage"

Meta plans to work with incoming Trump administration on resisting foreign censorship pressure

And there you have it, wonderful PoI fam! 🎯 Another week of tech turbulence wrapped up with a bow (and hopefully a few chuckles). From courtroom drama to crypto climbs, ransomware resistance to social media sovereignty, we've covered it all! Remember to keep your digital wits sharp and your crypto wallet sharper!

P.S. Don't forget to share your thoughts, questions, and favorite crypto puns with us. very voice matters in the PoI community!

🍨📰 Catch you in the next issue! 📰🍨